Infy manages to reduce attrition rate, adds 7,400
Bengaluru: Infosys managed to bring down its high employee attrition level a little in the September quarter, and made a net addition of 7,400 people. It hired nearly 800 employees outside India.
Attrition dropped almost 2 percentage points to 21.7% in the second quarter from 23.4% in the preceding one. “On the tech front, attrition was 19.4% compared to 21.5% in the previous quarter. Voluntary attrition was 18%,” said Infosys COO U B Pravin Rao.
Infosys has been battling one of the highest attrition numbers in the industry in the last few quarters. Rao said the company has undertaken many interventions, including milestone-based payments for those employees who complete two years in the firm. “We are also focusing on manager enablement by rewarding them and investing in training people. The new employee proposition is to engage in a meaningful way,” Rao said.
Infosys launched a series of bridge programmes to help staff to shift from their existing job to one that demands higher skills. The company expects this will also reduce attrition at junior levels and give young employees more career options. Revenue per employee rose to $54,400 in the September quarter, from $54,100 in the June quarter.
The company has also rolled out the second leg of compensation increase, thereby covering the entire employee base barring associate VPs, SVPs and EVPs. The firm had 971 such title holders in the 2018-19 financial year.