Infosys has announced Q2 results, attrition increased to 20 percent

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Infosys announces Q2 results, attrition increased to 20 percent
Though attrition levels also witnessed a spike. Infosys said that it plans to hire 45,000 college graduates this fiscal as compared to the earlier target of 35,000 in the previous quarter.

On October 13, India’s second-largest IT services company Infosys has announced its second-quarter of the financial year 2022 results.

The company reported an increased employee attrition rate at 20.1% on annualised basis as compared to year-earlier levels of 12.8%. Though attrition levels also witnessed a spike. Infosys said that it plans to hire 45,000 college graduates this fiscal as compared to the earlier target of 35,000 in the previous quarter.

Infosys had a headcount of 2,79,617 employees at the end of the September quarter. 

“In order to harness the full potential of the market opportunity, we are expanding our college graduates hiring program to 45,000 for the year,” said Pravin Rao, Chief Operating Officer.

He added, “Simultaneously, we continue to strengthen employee value proposition including health and wellness measures, reskilling programs, appropriate compensation interventions, and enhanced career growth opportunities.”

He further said that over 86% of employees in India have received at least one dose of Covid-19 Vaccine, it is now preparing to embrace the hybrid work model.

“We have equipped employees with the resources they need to be productive, cyber-secure, stay connected, and maintain a work-life balance. Our talent strategy also factors in expanded hiring pools that include new communities and work locations”, he added.

IT major said its consolidated net profit grew by 11.9 per cent to Rs 5,421 crore for the September 2021 quarter. In its earnings press conference, Infosys CEO Salil Parekh said that this will be the last full quarter before Pravin retires.

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