Cognizant stays bullish on freshers hiring, will hire 65% more than 2020
IT major Cognizant stays bullish on freshers hiring, will hire 65% more than last year in India. The company plans to hire 28,000 freshers in 2021 in India in comparison to the 17,000 hired in 2020.
One of the reasons for this robust hiring is a steep rise in voluntary attrition 21% compared to 19% in the last quarter Q1 of CY21.
Cognizant has headcount of 2,96,500, and more than two lakh employees are based in India.
The company is now putting in place measures that include training, quarterly promotions, and job rotations to provide more opportunities for growth and stanch attrition.
CEO’s Comment on Attrition
Brian Humphries, CEO of Cognizant told an earnings call that the company is doing the right thing to address attrition. “And of course, in the meantime, we’re working to manage the salary inflationary elements of this.”
Brian said the company will see sequential increases in attrition based on the resignations in the last few months because there was a two-month notice period in India. “So we have a strong understanding as to what attrition will be in Q2. But that’s been factored into our model and into our guidance. And in the meantime, we’ve been hiring at record pace given the extra recruiters we’ve put to work,” Brian said to the Finacial Express.
Hiring at Peer Companies
Other IT Companies TCS, Infosys, Wipro, HCL Tech to hire 1 lakh freshers in 2021.
For instance, TCS said that it is looking to bring 40000 freshers on board in FY22 to increase its employee count above 5 lakh. Similarly, Infosys and HCL Tech are planning to hire 26,000 and 12,000 freshers, respectively.
According to Wipro’s CHRO Saurabh Govil, the company will hire more freshers in FY22 than the previous year. to me In FY21, Wipro had hired around 9,000 freshers.