Clearly, TechMahindra is prepping for the future, and is ensuring that its employees are an integral part of its endeavours to be future ready. Realising the need to invest in cybersecurity, quantum computing and artificial intelligence (AI) to be able to offer ground-breaking solutions and services to its valuable customers, the company is training 8,000 of its employees in these technologies.
Foreseeing the demand for and the need to embrace and take advantage of generative AI and quantum computing solutions, the firm has decided to invest in the learning and development of its employees, so that they are upskilled and reskilled.
Tech Mahindra is looking at focusing on sectors such as healthcare, manufacturing, retail and banking, financial services and insurance (BFSI), especially in the US. It also realises how important AI is in making growth happen. This makes it essential for it to create an internal pool of talent that not only possesses the required skills but also the much-needed resilience to survive and excel amidst advancing technologies.
In the June quarter, Tech Mahindra reportedly saw a 38 per cent dip in net profit compared to last year. The company had recently said it would delay increments for some of its senior employees by a quarter as its profits and EBIT margins had dipped. The EBIT margins had apparently fallen 1.3 per cent because the firm had granted pay hikes to most of its workforce in the first quarter that ended 30 June 2023.