Infosys attrition at high of 15%; to hire 25,000 from campuses in FY22
India’s second largest IT services player, Infosys reported attrition rate of 15.2 per cent for the quarter ended March 31, 2021. The company had seen such high numbers four quarter back. Meanwhile, at Tata Consultancy Services (TCS), the attrition level has hit an all time low of 7.2 per cent.
Voluntary attrition for the quarter ended December 31, 2020 was 10 per cent. U B Pravin Rao, COO, Infosys accepted that the attrition at Infosys has been in the range of 13-15 per cent, but the Q4 attrition figures were high.
“We have initiated several interventions to retain the best of our employees, including salary hikes,” said Rao. He also said that the company has announced salary hikes in a staggered manner.
“The first salary hike was effective January 1, 2021 and the second will be in July. We have always given hikes in a staggered manner. In the interim we have also said that if there ar any interventions required to keep talent in the company, we will do it,” said Rao.
Infosys also said that for FY22 it will be onboarding close to 25,000 freshers from campuses. This will be across India and overseas. For FY21 the company had hired 21,000 freshers, of which 19,000 were from Indian campuses and 2,000 from overseas campus.
For FY22 the company will give offer letter to around 24,000 freshers and 1,000 will be hired through overseas campuses.
The company had a total of 259,619 employees at the end of FY2021 and a utilisation rate of 87.7 per cent for the quarter.
TCS, which announced its results earlier this week said that it would be hiring close to 40,000 people this year, adding to the 40,000 it had hired last year.
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