Bengaluru: Cognizant said the quarterly annual friction surged to a 31% record in the second quarter, from 21% in sequence, because the company continued to struggle with the departure of thousands of employees at the junior and mid-senior level in India.
Attrition has surged among all IT service companies for the quarter that ended in June as a request for technical talent – and especially those armed with digital skills – looting to create demand and supply of imbalances.
War for talent is expected to continue for the rest of this year.
But cognizant numbers have surpassed all of his colleagues with various kinds.
“This macro demand backdrop has also created a demand inventory imbalance in the main skills and has been significantly increasing industrial friction.
As we noticed in the last quarter comment, we hope the friction rises sequentially in Q2, and that happens,” said Chief Executive Brian Humphries In conference calls with analysts.
Departure has become the worst in India, where almost two-thirds of employees based and Humphries companies call the country one of the “hottest market we have seen or our team has seen over the past 10 years.” The cognizant friction number has become a headwind, which continues to remain at increased levels – more than 20% – for the past two years under Humphries.
It was said in the first quarter, losing several agreements because there were no employees on the ship.
In comparison, friction on TCS, Infosys and Wipro, apart from spiking, remained at 8.6%, 13.9% and 15.5% on the basis of twelve months left behind.
Cognizant said it put steps to put friction.
“Annual achievement-based improvement has been announced here in the last few weeks.
They are effective October 1 1.
It is above the entire host of the ad hoc steps that we played over the past year: increased, promotion, retention dollars.
We have announced a shift in several The last month until the quarterly promotion cycle for resources that can be billed, “Humphries added.
To fight the impact, the company hopes to rent 100,000 lateral this year and train 100,000 other colleagues.
“We hope to onboard around 30,000 new graduates in 2021 and make 45,000 offers for new graduates in India for 2022 onboarding.”
Friction who realizes soaring to 31%, to rent 30,000 refreshments in India
