Infosys has promoted another 4,000 people taking the total number of promotions this year to 20,000, effective July 1, 2012. This is about over 13% of the company's total strength of 1,51,151 as on June 30."We have done the promotions and progressions as we talked last time, we have done 20,000 across the corporations," Infosys CEO S D Shibulal said.
The company had earlier said it would review the wage hike decision depending on the company performance. However, with lower-than-expected earnings and forecast, in dollar term, the company will not lift its freeze on salary hike any time soon.
Infosys and its subsidiaries added 9,236 (gross) people in the first quarter of FY'13, while the net addition during the period stood at 1,157 employees. The rate of attrition during the quarter was marginally higher at 14.9% against 14.7% in the January-March quarter of 2011-12.
"Typically, attrition in the first quarter (of a fiscal) goes up because people tend to go for higher studies. About 30% of our attrition was due to this reason," Shibulal said.
Meanwhile the country's lead tech player Tata Consultancy Services has continued to hire to support business growth. With campus trainees joining the company from the beginning of July-September quarter, lateral hiring accounted for 75% of total hiring in Q1. There was a total gross addition of 13,831 people (net addition of 4,962), taking the total employee strength of 243,545 on a consolidated basis.
The utilization rate (excluding trainees) was at 81.3% and that including trainees was 72.3%. The attrition rate (last twelve months-LTM) was 12.0%.
"We have been able to effectively increase our retention rate in the first quarter to over 88% and increase our utilization rates further. The on-boarding of current year's trainees has begun," said Ajoy Mukherjee, executive vice-president and global head, human resources.
TCS has a target to hire 50,000 people this year while Infosys will hire 35,000 people, which includes 13,000 jobs for its BPO operations.
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