12/25/2023 0 Comments Attrition rates in it companies![]() ![]() Gurnani expects the attrition rate to come down to 17~18 per cent in the next two quarters.īesides Tech Mahindra, other IT players, including Mindtree, Infosys, TCS, and Wipro, are also aggressively hiring talent and setting up bases from the Tier-II and Tier-III markets. He believes that the attrition rates in those cities would be lesser. Tech Mahindra chief CP Gurnani said that the supply bases they have added in Tier-2 cities like Nagpur, Chandigarh, and Coimbatore are now coming up to speed. In terms of freshers hiring, Tech Mahindra added about 10K freshers last year and looks to add a similar number in the current fiscal year (FY-23) as well. In FY-22 Q4, it had added about 6,106 new hires and 5,209 employees in the same quarter last year. ![]() In the first quarter of FY-23, the company added 6,862 new hires, taking its headcount to 1,58,035 employees. We will continue to add that sequentially over the next two quarters”, shared Anand at the earnings call held last month. As we move forward, we get more streamlined on that model. Tech Mahindra chief Rohit Anand said they had hired significant freshers in the last couple of quarters, where they have helped them build, train, and deploy. Thanks to some of the initiatives that the company took over the last few quarters, they are now witnessing a decline in the numbers. So then the question is would the attrition rate start to decline in the near future? However, their attrition rate is still higher compared to FY-22 Q1, which was 17 per cent. Tech Mahindra is one of the few IT companies to have witnessed a decline in attrition, noting a 2 per cent drop compared to the previous quarter. Tech Mahindra sees a decline in attrition ![]() On average, the Indian IT’s attrition rate stands at 24 per cent, as per AIM estimates.Īs shown below, Cognizant has the highest attrition rate at 31 per cent (FY-22 Q2), followed by Infosys, Happiest Minds, HCL Technology, Wipro and others for the first quarter of FY-23. Despite several initiatives, including a record number of freshers hiring, bonuses, ESOPs, leveraging tech, and salary hikes, employee churn is refusing to come under control. The Indian IT industry has been reeling under high attrition for quite some time. ![]()
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