Cognizant Hiring 2021: IT services major Cognizant is mulling hiring approximately 28,000 freshers throughout India in the current calendar year (CY 2021) in relation to 2020 where around 17,000 candidates were recruited by the Tech giant.
The plan to increase the hiring number comes amid a sharp increase in the voluntary attrition up to 18 per cent in quarter one (Q1) of CY21.
Confirming the same, Brian Humphries, CEO, Cognizant, during a conference call opined that the company was doing the right thing to address the issue of attrition and also working towards managing the salary inflationary elements of this.
The company will be witnessing a successive increase in attrition based on the resignations submitted in the last few months with a two-month notice period to be served by employees in India.
"So we have a strong understanding as to what attrition will be in Q2. But that's been factored into our model and into our guidance. And in the meantime, we've been hiring at record pace given the extra recruiters we've put to work," the CEO added.
On Cognizant's plans to address the issue of retention, Brian Humphries said, "The company has been executing a multi-part plan that includes stepping up internal engagement efforts and increasing investments in people through training and job rotations to provide opportunities for career growth, shifting to a quarterly promotion cycle for billable associates and implementing further salary increases and promotions for high-demand skills and critical positions," as reported in the Financial Express
The tech major has a headcount of 2,96,500 with more than two lakh employees based in India.