IT firm Tech Mahindra added 5,200 employees in the June quarter and will triple its fresher intake this year as it is confident about a double-digit growth trajectory in FY22.
During the earnings call on July 29, CP Gurnani, CEO & MD, said, “We will increase the fresher intake by 3X this year.” However, he did not quantify the intake. The company will also hire in focused verticals such as AI, IoT, deep tech, space tech and strengthen its leadership as it sees increased traction in the technology sector, where it counts unicorns and major tech companies as its clients.
To cater to this, the company is also looking to integrate freshers with VC and private equity firms to work better with its clients. While the hiring will be global, the majority of it will be in India. Tech Mahindra is also expecting more hiring to take place in tier 2 cities like Trivandrum, Nagpur, Bhubaneswar and Vizag.
At 17.2 percent, attrition is a concern as well. However, Gurnani said that business plans are done for 16-18 percent attrition, and it has planned for higher attrition if required. “Talent acquisition across the globe has been factored in and the strategy both across the globe, tier-2 cities and major hubs of India, we expect to have good talent to meet our business goals,” Gurnani said.
Even as 80 percent of its employees are vaccinated, the company has not legislated return to office for employees. “From 6-7 percent, we now have 20 percent of employees working from offices and that is voluntary. We have requested that those coming to office are doubly vaccinated, for theirs and safety of other employees and families,” Gurnani said.
Some of the managers and processes are meeting twice a week face to face. Clients are also not insisting on coming back to offices. “Guidance has been given that till December 2021, everything will be voluntary,” he added.Tech Mahindra registered $1383.6 million in revenues, up 14.6 percent, for the quarter ending June 2021. The total headcount stood at 1.26 lakh for the quarter. Its net new deals stood at $815 million.