Infosys sees higher attrition at junior level, says chief operating officer Pravin Rao
During FY 18, Infosys received 15.4 lakh applications for jobs and interviewed 1.44 lakh and extended offer letters to 53,943 applicants.
Hyderabad: Infosys has said it, witnesses the higher attrition rate among employees with two to four years experience.
Chief Operating Officer of the IT bellwether Pravin Rao said the company has done multiple things with regard to the employee engagement perspective, including compensation the increase of 85 percent of the workforce on time starting April this year.
"As I've explained earlier, the attrition (was) primarily with people with two to four-year experience. We're not seeing any of that same trends at senior level."
"The attrition is much lower and under control. We did have a couple of exits (at senior level) in the recent past. And as we've always maintained it's sad to see people leave who've been with us for a fair amount of time and contributed.
And people do get opportunities, and they want to pursue different things," Rao said in the recent earnings call with analysts.
Infosys added 17,709 professionals during the first quarter on the gross basis, he said adding at the end of the first quarter it had 209,905 employees.
Executive Vice President and Chief Financial Officer of Infosys Ranganath Mavinakere said the IT firm gave 6 percent to 8 percent pay hike in India and 1 percent to 2 percent onsite.
"And there's no difference in terms of the impact. As you know for 85 percent of the employees we have rolled out, effective April 1 and for the balance 15 percent, we'll be rolling out from July," Mavinakere said replying to a query on the wage hike.
On the Standalone basis, the annualised attrition rate for fiscal 2018 stood at 16.4 percent compared to 15 percent for the previous year, Infosys said in this latest annual report.
As on 31 March, 2018, the group employed 2,04,107 employees, of which 1,92,179 were professionals involved in service delivery to clients.
During the last fiscal, the company added 3,743 new staff to the overall headcount, the report said.
During FY 18, Infosys received 15,40,498 applications for jobs and interviewed 1,43,872 and extended offer letters to 53,943 applicants.
These figures do not include the company's subsidiaries, the annual report said.
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