Tech Mahindra hired 6,862 freshers in Q1, attrition rate declined

In terms of freshers hiring, Tech Mahindra had added around 10,000 freshers in FY22 and targets to add a similar number in FY23.

‘The supply bases we have added in Tier-2 cities like Chandigarh, Nagpur and Coimbatore are now coming up to speed. I think the attrition rates in those cities will be lesser. Delta’s overall impact will be lesser," CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra said.

He added, "In general when an industry goes through a rapid surge, there is shock with attrition rate running at 23-24%, I think that shock stage is now coming down. Earlier we used to plan our business at 17-18% attrition, which I estimate it to be in the next two quarters.”

The company is also actively creating campuses and hiring talent from the Tier-II and Tier-III markets. In an earlier interview with Moneycontrol, Gurnani shared that he won’t be surprised if 20 percent of the company’s talent came from Tier-2 and Tier-3 cities in less than two years.

Commenting on the company’s performance in Q1, Gurnani said, “We are starting this fiscal with a renewed commitment towards delivering consistent organic growth. We remain resilient and watchful given the dynamic global macro-economic environment and will continue investing in new technologies to deliver differentiated offerings. Our winning strategy rests on the pillars — ‘Purpose, People and Performance’ which is aiding us to capitalize on the strong demand environment in the market responsibly.”