Cognizant plans 1 lakh lateral hiring
Cognizant has a total headcount of 301,200. Apart from attrition, the improved revenue guidance too has supported the hiring plans
Chennai: US-based Cognizant, which has two-thirds of its emp-loyees in India, plans to make lateral hiring of one lakh persons in 2021 to offset the high attrition levels.
"We now expect to hire approximately 100,000 laterals in 2021 and to train close to 100,000 associates. In addition, we expect to onboard approximately 30,000 new graduates in 2021 and make 45,000 offers to new graduates in India for 2022 on-boarding," Cognizant CEO Brian Humphries said in a post-earnings analyst call
The firm’s attrition went up to a historic high of 31 per cent in the June quarter and of this 29 per cent was voluntary attrition. In the year-ago quarter, voluntary attrition was 11 per cent. Cognizant has a total headcount of 301,200.
Apart from attrition, the improved revenue guidance too has supported the hiring plans. The firm’s June quarter revenue grew 14.6 per cent to $4.6 billion. It has raised its 2021 revenue growth guidance to 10.2-11.2 per cent. Full year 2021 revenue is expected to be $18.4-$18.5 billion.