Accenture, the global professional services company, which specialises in IT services and consulting, has promoted 60,000 employees in India. In total, about 1,57,000 promotions have taken place at Accenture, globally, in the financial year 2022, as per a report by Times Of India.
While, the TOI report is based on information from sources, Accenture has not officially revealed or confirmed an exact number of promotions in India. The Company hasn’t replied to queries by the publication either.
Of the total workforce strength of more than seven lakh, globally, three lakh employees of Accenture are based out of India. In the financial year of 2021, the Company promoted 80,000 employees and it was reported that half of them were Indians.
As per a release by Accenture, the Company has promoted 1,214 employees from its global workforce, to managing director level. Another 119 people have been elevated to senior managing-director level. With these promotions, the Company has improved its gender representation at the top, as well as the representation of different races and ethnicities in the UK, the US and South Africa.
About 454 women have been promoted, which makes 37 per cent of all promotions. Additionally, 33 women were appointed as senior managing directors, making up 28 per cent of those appointments, up from 24 per cent in 2021. The representation of women above managing director level, which includes managing directors, senior managing directors and members of the Global Management Committee, has increased from 27 per cent in 2021 to 29 per cent in 2022.
This will also help Accenture progress towards it global target of reaching 30 per cent representation of women above managing director level, by 2025.
As per the annual report by Accenture, due to an inflammatory environment, the compensation of employees has been on a rise in 2022. The promotions can also be the result of the fierce talent demand and skills in the market. Accenture’s median compensation for FY2021 was $18,821, resulting in a CEO to employee pay ratio of 1227:1.
Due to the excessive talent demand in the market, the attrition rate at Accenture stood at 19 per cent more than last year, up from 14 per cent the year before. This does not include involuntary terminations.
In the last financial year, Accenture invested $1.1 billion on the learning and development of employees. The digital learning platform delivered over 40 million training hours, 27 per cent more than in the fiscal year 2021. On an average, the digital platform delivered approximately 61 hours of learning per person.