Infosys looks to turn the tide on record staff attrition numbers
Infosys, the Bangalore-headquartered multinational outsourcing business, hired an additional 7,400 workers in the second quarter of this year, slightly reducing its overall employee attrition level for September. In total, the company’s attrition was down by almost 2% to 21.7% in the second quarter, having fallen from 23.4% in the previous quarter. Drilling down into the figures, U B Pravin Rao, the company’s COO, said attrition on the tech front had fallen 19.4% from 21.5% in the previous quarter, while voluntary attrition was at 18%.
Over the last few quarters, the firm recorded the highest attrition numbers in the industry, obliging it to introduce a range of measures designed to boost staff retention, including milestone-based payments for workers who had completed two years at the firm. According to Rao, the company also focused on manager enablement by rewarding them and investing in a wider range of training initiatives. In an additional move, the company introduced several bridge programs designed to help workers shift to higher-skills jobs, reduced staff loss at junior levels and provided young workers with an enhanced range of career choices. It also introduced a second tranche of wage rises for all employees, with the exception of VPs, SVPs and EVPs.