The attrition at Infosys is worse than that at Wipro, Salil Parekh has increased hiring plan by 10,000
- Infosys’ attrition rate increased to 25.5% in the December quarter of 2021.
- It now plans to hire additional 10,000 employees to make up for this increased attrition rate.
- Roy further added that the company already has a pipeline of potential candidates
AdvertisementIT giant Infosys plans to increase its hiring plan to over 55,000 individuals by March 2022 as the attrition rate in the company has crossed 25% compared to 20.1% three months earlier. In comparison, the attrition rate at Wipro was 22.7% in the three months ending December.
Attrition is used to describe the rate at which employees are leaving the company. “We continue to prioritize investments in talent acquisition and development and have further increased our global graduate hiring program to over 55,000 for FY22 to support our growth ambitions," Nilanjan Roy, chief financial officer at Infosys said.
The company had earlier planned to hire 45,000 employees by the end of 2021.
Roy further added that the company already has a pipeline of potential candidates from multiple verticals including cloud, internet of things, cyber security and more.
Roy explained that the company had a three-pronged strategy to stop people from leaving the company. These included higher rewards and compensation, upskilling and reskilling opportunities, and talent retention programmes.
“We are also looking at differentiated talent this year when our campus hires digital specialists, who are different skill sets coming into the company. Certainly across reskilling, which continues to be a core to our fundamental business model and how we digitally scale employees, give them incentives to get reskilling in new technologies,” Roy added, explaining how they plan to increase their retention rate.
Wipro increases hiring plan to 30,000 as attrition hits a new high
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