Noida-based IT Services firm HCL Technologies will double its fresher hiring in FY23 as the demand for technology services continues to outstrip supply, and rising attrition.
The company will hire 20,000-22,000 freshers in FY22. So far 17,500 freshers have been on-boarded and the rest will join the company in the fourth quarter. The firm employs about 1.97 lakh employees.
Between January and December 2021, the company hired 38,095 people, of which 10,143 were added in the October to December quarter alone.
At 19.8 percent attrition is a huge concern for the firm. HCL Tech reported 15.7 percent in Q2 FY22, from 11.8 percent in the last quarter. During the earnings call on January 14, VV Apparao, Chief Human Resources officer, HCL Tech, said that while the overall attrition is high, it is 12.3 percent at the junior and senior leadership level.
To contain attrition, the company is taking several measures to address the issue. Last quarter, it announced stock options for senior hires, in addition to the salary hikes effective July 1, and 100 percent quarterly bonus for junior management. This is in a bid to address rising attrition and build the supply chain, even as the demand remains robust.
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