According to a Business Standard report, Apparao V V, CHRO, HCL Technologies said in an interview with media that no matter what anyone does but attrition that we’re witnessing in the Indian IT industry will not come down because of demand-supply mismatch is very high.
Explaining why are IT companies focusing on high numbers from campus drive Apparao said, “Every company is sitting on deals that are three times what they see. Besides, the war of talent is for the people in the range of three-four years of experience, and again, that pool of people is finite. The only segment the numbers are infinite is in the 0-3 years experience. So everyone is ramping up recruitment from campus hiring,”
HCL Technologies has also announced to hire 20,000-22,000 people from campuses for FY22. This is the highest ever hiring from campus that we’re doing. Apparao said earlier 5 years back, the company was hiring only 4,000-5,000 people on an average of from campuses.
Recently, on July 19, HCL has reported an Attrition Rate at 11.8% in Q1 FY’22 (down from 14.6% last year and but higher from the previous quarter 9.9%). HCL Technologies is also working on a plan to give Mercedes-Benz to Top performers as an activity to boost the employee retention of HiPos.
Apparao said, “Our retention measures are more focused towards top talent. And there the attrition is in single digits.”
“Though we have announced salary hikes across the company as a part of bringing down attrition, it will vary according to the potential and talent of the individual,” he added.
To deal with the Attrition issue, IT Companies are offering cool perks and cash-based incentives to retain their employees as the replacement cost may come at 15-20% higher.
Speaking on the employee vaccination part and back to office, Apparao said that getting vaccines was not an issue for the company. Almost 74% of employees are vaccinated with at least one dose and by the end of this quarter the company will be able to vaccinate all its employees.”
“From the point of view of returning to workplace, we have mapped which segment of people are not required to come to office and who are required to be in office” he added.
“The company is looking at a September time frame to get back a percentage of people back,” he said.
However, a lot will also depend on clients. Even they are yet to make their minds up on whether they want people to come back to office or whether they prefer the WFH model,” said Apparao.
