Advertisement

Cognizant makes 28,000 campus offers for 2021

Amid rising attrition rates of 21 per cent, the highest attrition in the industry for the January-March quarter, the International IT Player hopes to increase its workforce with fresh talent

?

Cognizant has made campus offers to recruit 28,000 freshers in 2021 for its Indian team. Last year, the American IT services company hired 17,000 to offset the voluntary attrition in the first quarter. Presently, the workforce of Cognizant is 2,96,500, of which over two lakh employees are based in India.

The IT major witnessed an attrition rate of 21 per cent, which translated into 15,600 employees leaving the firm in the January-March quarter. Its voluntary attrition rate stood at 18 per cent.

The company hopes to increase the strength of its workforce with new talent and is also wary that the recovery would be slow. They have factored in the attrition numbers for the second quarter into their model and added that there will be “further sequential increases in attrition” in the second quarter.

The multinational is reported to have forgone opportunities due to the lack of talent, thereby impacting its revenue. Increased demand and a highly competitive market for talent is only a part of their woes. The company is also said to be facing salary pressure due to lateral and contingent hiring.

To offset the rising attrition rates the company has moved to a quarterly promotion cycle for billable associates, increased job rotations, and added salary raises and promotions for in-demand skills and positions. It has also been reported that they would be focusing on encouraging internal participation and engagement.




 


Tags assigned to this article:
Campus Placements attrition rate cognizant

Advertisement

Around The World