Infosys to hire 45000 freshers in FY22 amid a 20.1% attrition rate.
Infosys, which reported a sharp increase in attrition for the second quarter ended September 30, 2021, stated that organisations have never seen such a talent battle.
“Even in my over three decades of work, we have not witnessed such a scale of the talent war, which is pushing every firm rush to universities to hire more freshers,” said Pravin Rao, COO, Infosys, in response to the analyst call following results.
The company, which had previously declared that it would hire 35,000 freshers in FY22, has increased that number to 45,000 due to increased demand. In the second quarter, the corporation recorded a 20.1 per cent attrition rate, up from 13.9 per cent the prior quarter.
Rao also stated that attrition is highest at the junior level, where the potential for employees to move is most significant. Despite compensation increases and promotions, the corporation admits that the numbers are rising. “We don’t break down the percentages or quantities of promotions, but they were more than in previous quarters,” Rao noted.
The corporation is not planning to use its hybrid work approach in India because 86% of its employees have received at least one dose of vaccine.
“We’ve given people the tools they need to be productive, securely online, keep connected, and preserve a work-life balance.” He went on to say, “Our talent strategy also considers extended recruiting pools, which include new communities and work locations.”
Rao also stated that all senior leaders would be required to leave the workplace at least once a week beginning in October. “We also want them to have several employee interventions at least once a month so that a bigger number of people come to work.” We’ll fine-tune the procedure based on the feedback and results,” Rao added.
There is no one-size-fits-all solution, according to Rao. “We’re working on a model that gives employees flexibility while also allowing us to react quickly to what’s going on in the business environment,” Rao said.