Can Infosys' Hiring Drive In US Check Attrition?
India’s second-largest software services firm Infosys plans is reportedly hiring over 2,100 people in the US over the next few months to expand capabilities across domains, including digital, big data, analytics and cloud. The hiring drive by CEO Vishal Sikka is not only an attempt to expand further into the global market, but also a bid to fight attrition.
For most Indian IT services firms, the US accounts for the largest chunk of revenues. The major recruitment drive in the US will support the growth of Infosys’s business and enhance its capabilities, the company said in a statement. With this program, Infosys will bolster its expertise in client relationship management, consulting and technical delivery. The addition of these employees will help Infosys provide its clients local market insights, industry-leading technology expertise, and timely responsiveness to critical issues.
According to the company, 1,500 professionals will be hired for consulting, sales and delivery during the current financial year, close to 600 Bachelors and Masters graduates will be roped in from US Universities over the next 12 months.
For Infosys’ consulting practice in the US, 180 graduates will be recruited and they will join existing teams advising clients on business and technology transformation strategies. The company says it will also recruit up to 300 management and technology graduates from US universities, who will work across multiple technology domains, including digital, big data, analytics and cloud.
The recruitment drive will leverage a wide range of relationships between Infosys and academic institutions across the US, cultivated through programs like InStep Internship Program and the recently announced collaboration with the Institute for Computational & Mathematical Engineering at Stanford University.
“We are particularly looking forward to bringing a large group of graduates into Infosys in the U.S. This is a terrific time for young, smart and talented leaders to be graduating from the best American schools and choosing a career in the technology industry,” Infosys Executive Vice President and Head of Infosys Americas, Sandeep Dadlani said.
As per the company’s statement, annualized attrition at Infosys rose to a record 20.1 percent in the September quarter, but the company is taking many steps to fight the surge in attrition.
In October, Vishal Sikka announced 100 percent bonus for employees, for the first time in 16 quarters. The company also promoted around 12,000 employees between July and September, the highest in any single quarter in its history.
Chief operating officer UB Pravin Rao assured that attrition would come down in the next couple of quarters to close to 15 percent, which is the industry average - and that indicates that the company has to be on a hiring spree.
According to a report by Angel Broking, in Q2, Infosys added a total of 14,255, of which 4,774 were lateral hires. But after taking into account the number of employees who left the company, the net addition of employees during the quarter stood at 4,127.
Infosys has been ailing since past few years. TCS and Cognizant have been giving them tough competition and are slowly increasing their market share. Sikka, the first non-founding CEO has been given the responsibility to bring back the company to its original growth track. Needless to say, the CEO is prioritizing talent development while focusing on newer skills such as artificial intelligence (AI) automation and robotics in the coming months.
- India Inc's Progress on Gender Diversity: Good, Bad or Ugly?
- Digital Disruption Boosts Business Growth, Revenue: Study
- Why Companies Need To Invest In Chief AI Officer
- Hiring To Pick Up In Next 6 Months: Report
- Infosys To Hire 6K Techies Over The Next Two Years
- Weekly Rewind: Top 10 Stories On CXOToday (Aug 21-25)
- Can Nandan Nilekani Bring Infosys Back On Track?
- Infosys Saga: Nandan Nilekani Appointed Chairman
- Infosys Saga: Leadership Lessons For Founder-CEOs
- Infosys Crisis: Can Founders Ever Walk Away From Their Companies?