Attrition at HCL Tech continues downward trend

The attrition rate has come down to 19.5% from 21.7% in the last quarter


Having onboarded 4,480 freshers in the March quarter, HCL Technologies now has a total workforce strength of over 2.25 lakh. The attrition rate has gone down to 19.5 per cent compared to 21.7 per cent in the previous quarter.

About 2.11 lakh employees in the workforce belong to the technical category, while over 14,000 belong to the sales and support division.

In the September quarter, the workforce strength stood at 2,19,325, while in the December quarter it stood at 2,22,270. That means, a net addition of about 2,945 employees was made. In the fourth quarter of FY23, the consolidated net profit of the tech major was about Rs 3.9 crore. In the previous year, the profit was Rs 3,953 crore. That means, there was a growth of 10.85 per cent.

The demand from customers remains strong and healthy, which is reflected in the high pipeline. Therefore, the company expects to see a revenue growth of at least six per cent, with operating margins of at least 18 per cent.

The Indian tech multinational’s Value Creation Portal allows staff to create value for clients by giving their suggestions and ideas. Over 4,300 ideas have been generated on the portal and more than 2,300 have been implemented, resulting in the delivery of customer value worth over $430 million+ in Q4.

In the financial year 2023 itself, customer value worth about $1.4 billion has been delivered, and more than 10,000 unique employees were able to access the Value Creation Portal. These employees manage to generate about 15,400 ideas and over seven thousand implementations.

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