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Infosys to hike headcount by 30k this fiscal

Infosys to hike headcount by 30k this fiscal
PTI
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First Published: Tue, Apr 13 2010. 07 25 PM IST
Updated: Tue, Apr 13 2010. 07 25 PM IST
Bangalore: Infosys, India’s second largest software exporter, on Tuesday said it was looking at recruiting nearly 30,000 persons for this fiscal year including over 2000 from overseas.
In India it had already made 19,000 campus offers, TV Mohandas Pai, Member of the Board and Head-HRD and Education and Research told reporters in Bangalore.
The company was planning to induct 5,500-6,500 laterals, he said while talking about Infosys’ hiring plans.
It was planning to recruit 1000 each for its China and US office and around 400 in Manila.
Infosys also saw one of the largest wage hike.
“There has been a large wage increase for middle and junior level employees. In senior level there has been a 10% increase in wages.”
Overall the average wage hike has been around 14-17%, he said.
The company has made a $134 million compensation payout, the largest in the IT industry’s history in India.
Nearly 7500 persons were promoted, out of which 2500 included those who had been impacted by the company’s new employee restructuring programme - called I-Race.
As per the restructuring activity, which aimed at fitting employees into roles they were prepared for, nearly 4500 employees had been fitted in role lower than what they were currently fitted into. Out of these 4500, 2500 would be promoted and another 2000 would be possibly promoted in October.
The restructuring exercise which saw some of the employees going down in the hierarchy rank, with their salaries still intact had raised a hue and cry and a lot of flak from employees, with several voicing their anger on blogs and other social networking sites.
Replying to a query on the outcry over the restructuring, Pai said that “Some were unhappy.” A committee had been set up to get the feedback and to take some steps in this direction.
The employees had also made various recommendations, which were being looked into, he said.
The company saw a gross addition of 9,313 employees and a net addition of 3,914 employees for March 2010 quarter. As of 31 March 2010, Infosys and its subsidiaries had a headcount of 1,13,796 employees as against 1,09,882 on December 31,2009
On attrition rate, he said attrition in the March-ended quarter was 13.4% as against 11.6% for the December 2009 quarter. “The market is pretty hot now,” he said explaining increase in attrition.
Out of the 3500 that left nearly 500 persons were involuntary attrition as they had failed to clear the qualify examination for trainees, Pai said.
However, Infosys expected the overall attrition to come down in the second quarter of the fiscal. In the first quarter, he said many often left as it was the time when many sign up for higher studies. The company was also comfortable with the current utilization, which stood at 77.1% for March ending quarter, which excluded trainees.
To a question on increase in wages for those working overseas, he said the increase would be around two to 3%.
The increment was effective from April for others and for senior managers from July.
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First Published: Tue, Apr 13 2010. 07 25 PM IST
More Topics: Infosys | Hiring | Employees | Staff | Software |