Cognizant Technology Solutions, the US-based software major, is gearing to hire about 50,000 freshers in India this year. It will also hire experienced laterals as and when the need arises.
About 75 per cent of Cognizant’s employees work out of India. The Company hired about 9,800 in the first quarter.
As per its financial results, Cognizant posted a 10 per cent increase in revenue to $4.8 billion. This growth is significantly attributed to increased digitisation across companies, globally. In fact, Cognizant has experienced double digit growth for the fourth year consecutively.
Not surprisingly, the Company’s revenue from digital business was a whopping 50 per cent of its revenue. In addition to the demand for digitisation, the Company had also invested heavily in this area and half of its workforce possesses skills in digital technology.
Attrition appears to have dropped slightly, but it cannot be said for sure whether the trend will continue. Attrition was 26 per cent in the first quarter, lower than the 31 per cent in the December quarter and 33 per cent in the September quarter.
With continued investment in learning, development of career path, upskilling opportunities and competitive pay packages, the Company hopes to ensure that attrition levels remain low. Promotions were also increased three fold last year, compared to the year before last.
In 2021, about one lakh employees were given training in new digital skills. That means, a total of about 1,30,000 courses were offered over almost 23 million hours of learning.