Cognizant, the US-headquartered IT services firm, has announced that nearly 13,000 former employees have rejoined the company.
This resurgence comes as Cognizant recovers from previous challenges and returns to stability and renewed growth.
Cognizant Strategic Growth and Hiring Plans
In a media briefing following the release of the company’s Q3 FY24 results, Cognizant CEO Ravi Kumar expressed his enthusiasm about the return of these employees.
“The buzz around us is high… you can also see the LinkedIn traffic that is talking about the company. The mojo of the company is back,” Ravi Kumar said.
He added that these employees had previously left the company but chose to return due to the positive changes and growth.
Cognizant’s headcount increased by 3,800 employees in the third quarter, a trend mirrored by its industry peers.
Despite this recent hiring, the company’s overall headcount is still down by 6,500 year-on-year.
However, Ravi emphasized that the company plans to continue hiring in line with its positive growth trajectory.
“If we are generating incremental revenue every quarter, then we need to reach out and hire the top talent from the market,” he stated.
Impact of AI on Business Process Management
CEO Ravi Kumar also highlighted the impact of artificial intelligence (AI) on Cognizant’s business process management (BPM) business.
He noted that AI is a unique technology that will disrupt knowledge workers across various sectors.
“There have always been technologies that have disrupted tasks at the bottom of the pyramid. In some way, that is where BPO (business process outsourcing) too is,” Ravi explained.
He added that Cognizant uses AI algorithms and platforms to generate a staggering 2 million lines of code annually, showcasing the increasing role of AI in software development.
Cognizant Future Prospects and Campus Hiring
Looking ahead, Cognizant plans to ramp up its campus hiring efforts starting next year.
Ravi mentioned that the company is excited about the buzz around it and the positive sentiment on platforms like LinkedIn.
“We are also going to campuses, starting next year, in a big way,” he said. This move is expected to further bolster the company’s talent pool and support its growth plans.
The return of 13,000 employees to Cognizant is a testament to the company’s resilience and ability to adapt to changing market conditions.
With a renewed focus on growth, stability, and innovation, Cognizant is well-positioned to continue its success in the IT services industry.
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