The India team of Cognizant Technology Solutions will follow a nine-hour work day starting February 15. The number of paid leaves in a year has also been increased.
The move is part of some tactical alterations being brought about within the organisation. It will reduce utilisation in India by a point or two.
About 75 per cent of the Company’s almost three-lakh strong global workforce, operates in India. The Company wishes to align staff policies with market standards to gain competitiveness.
Employees will be eligible for 36 paid annual leaves instead of 26. This is expected to improve the work-life balance of employees.
These positive changes are expected to help the Company gain an edge with competition. The resulting agility and development will help it fulfil clients’ expectations better too.
The IT company’s yearly attrition rate in the December quarter was 19 per cent, probably the highest among the bigger IT companies. Most of the Indian IT companies experienced double-digit attrition as a result of the slump in the job market induced by the pandemic. primarily due to the weak job market created by the pandemic.
Cognizant’s offshore utilisation without taking into account trainees, went up to 87 per cent in the December quarter of 2020 quarter, whereas it was 85 per cent in the September quarter and 80 in June. The onsite utilisation managed to cross 90 per cent, which is high.