Veteran information and technology (IT) company Cognizant will give jobs to 1 lakh people this year. This is because a large number of its employees are leaving their jobs. The company has more than 3.01 lakh employees.
The company said that more than 31% of its employees have left the company. This has been the highest attrition rate ever in its history. 23,300 employees have left their jobs in the June quarter. This means 300-350 people are leaving the job every working day. Out of this, 29% of people have left the job of their own volition. The company will employ more people to deal with this problem.
The company will give jobs to 1 lakh people during this whole year. However, it will mostly be held by people who have experience. Along with this, the company will also provide training to its 1 lakh existing employees.
The American IT company said that more than two-thirds of its employees are in India. Most of its employees have left their jobs during the April-June quarter. During the January to March quarter, 21% of its employees had quit. During this period, Cognizant has been at the top in terms of leaving jobs among all IT companies. Cognizant's HR team is striving to reduce the impact of job loss. This includes rapid recruitment and training programs.
Its CEO Brian Humphries said that 30 thousand new graduates will be given jobs this year. By 2022, more than 45 thousand new graduates will be given jobs.
The company's total revenue in the second quarter was $4.6 billion. After the second-quarter results, the company said that its growth rate can be more than 10% this year. The company said that there is strong demand, but it is worried about the people leaving the job.
The dropout rate in the June quarter has been the same for Accenture followed by Cognizant. 17% of the people left the job in this company. The rate has been 8.6% in Tata Consultancy Services, 13.9 in Infosys, 11.8 in HCL and 15.5% in Wipro. Last year 15,540 employees left their jobs. The number of layoffs compared to its total workforce was 21%. That is, about a quarter of the employees had left the job.
In the January-March quarter, the company recruited 7,000 people. Cognizant is more worried than those who leave their jobs. Its impact was also visible on its March quarter revenue. In the March quarter, the management had said that it was facing the problem of lack of talent. Quite a few good people are leaving their jobs. The company said that it lost a lot of deals in the January-March quarter because it did not have the employees to complete it.
According to the company, it is now preparing to stop those who leave the job. For this, it will focus on methods like training programmes, quarterly promotions and job rotation to provide maximum opportunities for growth. The country's largest company TCS i.e. Tata Consultancy Services has a total of more than 5 lakh employees. Out of this, 8,795 employees had left their jobs last year. In Infosys, 9,865 employees quit last year, while 5,980 in Wipro left. A total of 4,182 employees of HCL had quit last year.
Like and Follow us on :
