More people left Infosys in FY17; attrition rate at 19%
Infosys attrition rate increased year-on-year (YoY) as a total of 37,915 people left the company in FY17 as compared to the year before.
Consolidated attrition rate from the company was at 19.2% for the year ended March 2017 as against 18.7% for the year ended March 2016.
The number of people who left the company in FY16 was 34,688.
Infosys that declared its Q4 results on Thursday reported net profit of Rs 3,562 crore on consolidated basis. This was a rise of 5.04% compared to Rs 3,391 crore in the corresponding period of the previous year.
“Unanticipated execution challenges and distractions in a seasonally soft quarter affected our overall performance,” Vishal Sikka, CEO Infosys said.
During the quarter the company’s fact sheet showed that 8,529 left as opposed to 8,373 in March 2016.
In the third quarter of FY17 attrition from Infosys was pegged at 9,186.
“…our employee engagement continued to drive down attrition, especially with top performers,” Sikka added.
“Attrition declined during the quarter reflecting our focus on better employee engagement. Utilization during Q4 reached 82% which is the highest in Q4 over the past several years”, said U. B. Pravin Rao, COO.
However, the company added fewer number of people in the last quarter of this financial year that FY16.
Net addition of employees during the quarter was 601, while in March 2016 it was 661.
Infosys added up to 6,320 people in FY17 as opposed to 17,857 in FY16.
Shares of the company fell as much as 2% during early trade on BSE Sensex.
They were trading at Rs 951.45 per share, down 1.79% at 0927 hours.