HCL Technologies to hire 22,000 freshers in FY22, Attrition 11.8% in Q1

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HCL Technologies to hire 22,000 freshers in FY22, Attrition 11.8% in Q1
The company has reported an Attrition Rate at 11.8% in Q1 FY'22 (down from 14.6% last year), reflective of the effectiveness of increased employee engagement initiatives and large-scale upskilling programs.

IT major, HCL Technologies has announced its Q1 results for the Financial Year 2021-22 on July 19, The company reported a 9.9 percent rise in consolidated net profit to Rs 3,214 crore for the quarter ended June 30, 2021. And 11.7% growth in revenue in constant currency in the first quarter.

However, the growth rates are little lower than peer companies; TCS, Infosys, and Wipro but in the corresponding quarter last year, at the peak of the pandemic, HCL had positive growth rates, compared to most of its peers.

The company has reported an Attrition Rate at 11.8% in Q1 FY’22 (down from 14.6% last year), reflective of the effectiveness of increased employee engagement initiatives and large-scale upskilling programs.

Responding to the queries of media, V V Apparao, Chief Human Resources Officer, HCL Technologies said, “We will hire 20,000-22,000 freshers in this fiscal year, last year the company on-boarded 14,600 freshers globally,”

“I will not be surprised if we even cross that number,” V V Apparao added.

Commenting on employee vaccination, he said, “About 70% of the company’s employees have been vaccinated and all are expected to get both the shots by the end of September,” The company may look to call employees back to the office by end of September this year.

The company added 7,522 people during the first quarter with a total headcount of 176,499.

HCL Technologies has also announced the Shiv Nadar has stepped down as Managing Director and Board Member of HCL Tech, effective from July 19. C. Vijayakumar takes the charge.

The company has elevated C. Vijayakumar as Managing Director & Chief Executive Officer of the company for five years with effect from July 20. Earlier who was working as President & CEO of the company.

Shiv Nadar, who has completed 76 years of age, will now take on the role of Chairman Emeritus and Strategic Advisor to the company’s board, according to a regulatory filing on Monday.

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