Cognizant Technology Solutions, a US-based software giant plans to hire 50,000 freshers in India this year. When the need arises, it will also hire experienced laterals.
Cognizant employs over 75% of its workforce in India. In the first quarter, the company hired around 9,800 people. Cognizant reported a 10% increase in revenue to $4.8 billion in its financial results. This expansion can be linked to greater digitalization in businesses around the world.
For the fourth year in a row, Cognizant has achieved double-digit growth. Not surprisingly, the Company’s digital division accounted for half of its total sales. In addition to the demand for digitalisation, the Company has made significant investments in this area, with 50% of its personnel having digital technology skills.
Although attrition appears to have decreased marginally, it is impossible to predict whether this trend will continue. In the first quarter, attrition was 26%, down from 31% in the December quarter and 33% in the September quarter.
The Company intends to keep attrition low by continuing to invest in learning, career path development, upskilling opportunities, and competitive pay packages. Promotions were also double in the previous year compared to the year before.
Around one lakh employees were trained in new digital skills in 2021. That means about 23 million hours of learning were spent on around 1,30,000 courses.