Q1FY19: Infosys sees higher attrition at junior level
Infosys has said it witnesses 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 increase for 85 per cent 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 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 earning call with analysts.
Infosys added 17,709 professionals during the first quarter on the gross basis, he said adding at the end of first quarter it had 209,905 employees.
Executive Vice President and Chief Financial Officer of Infosys Ranganath Mavinakere said the IT firm gave 6 per cent to 8 per cent pay hike in India and 1 per cent to 2 per cent onsite.
"And there's no difference in terms of the impact. As you know for 85 per cent of the employees we have rolled out, effective April 1 and for the balance 15 per cent, we'll be rolling out from July," Mavinakere said replying to a query on wage hike.
On Standalone basis, the annualised attrition rate for fiscal 2018 stood at 16.4 per cent compared to 15 per cent for the previous year, Infosys said in this latest annual report.
As on March 31 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 over all 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 companys subsidiaries, the annual report said.