The IT sector is facing unprecedented talent crunch as the attrition rate has become one of the biggest concerns for companies.
And New Jersey-based IT firm Cognizant Technology Solutions has been the worst hit. The software services exporter, which employs over 3 lakh people globally, witnessed the highest attrition rate in the industry. On a trailing 12-month basis, Cognizant clocked an attrition rate of 33% during the September quarter this year.
To put this into context, India's largest software exporter, Tata Consultancy Services (TCS) recorded the lowest attrition rate of 11.9% in quarter, while Infosys recorded 20.1%, Wipro 20.5%, and HCL Technologies saw the number at 15.7%.
And to deal with this attrition problem, Cognizant is now focusing on retention and recruitment, said CEO Brian J. Humphries during the Q3 Earnings Call announcement.
Despite elevated attrition, Cognizant increased its net headcount in Q3 by over 17,000 sequentially. The company is also planning to hire as many as 45,000 new graduates in India by 2022.
On the other side, Cognizant is also planning to hire approximately one lakh lateral employees during the current fiscal year.
The Cognizant CEO also said that the IT firm is committed to supporting employees' career growth and engagement through a range of initiatives, and annual increments in the fourth quarter.
A leading news agency of India tried to analyze data from five different sources to find that there has been significant growth in jobs over the last few years under the PM Modi government. The data derived from Periodic Labour Force Survey (PLFS), EPFO, RBI, National Career Services or NCS portal and various job-intensive schemes, reveals that India has witnessed a growth in jobs and a decline in the unemployment rate over the last few years.
The nation is witnessing a huge number of job scam cases with the majority being from fake job ads. As newspaper remains the traditional and popular way to find job ads, the press council has taken cognizance of the matter.
Are you on the lookout for exciting career opportunities in the public sector? Look no further, as a host of government organizations have recently released notifications for various job vacancies.Irrespective of whether you are an experienced professional or a fresh graduate, there are plenty of openings to explore.
The Central Warehousing Corporation has invited online applications for 154 vacancies in various positions such as Junior Technical Assistant, Assistant Engineer, and Superintendent. Those who are interested and fulfill the eligibility can apply on the CWC's official website, www dot c e w a c o r dot nic dot in, before the deadline of September 24.
A leading news agency of India tried to analyze data from five different sources to find that there has been significant growth in jobs over the last few years under the PM Modi government. The data derived from Periodic Labour Force Survey (PLFS), EPFO, RBI, National Career Services or NCS portal and various job-intensive schemes, reveals that India has witnessed a growth in jobs and a decline in the unemployment rate over the last few years.
The nation is witnessing a huge number of job scam cases with the majority being from fake job ads. As newspaper remains the traditional and popular way to find job ads, the press council has taken cognizance of the matter.
Copyright © 2024 - Odisha Television Limited All Rights Reserved.