CHENNAI/BENGALURU: For the second time in six months, Cognizant CEO Brian Humphries known as out how Cognizant needed to let go of enterprise, or couldn’t fulfil demand, due to expertise associated issues. The corporate’s attrition is at an all-time excessive at 33%.
In an interview with TOI, Rajesh Nambiar, chairman & MD of Cognizant India, and president of its digital enterprise & expertise, spoke about how Cognizant is making an attempt to take care of this, and the way digital is a key development driver. Excerpts:
Your income development is 11.8% within the quarter, a little bit higher than HCL, however approach beneath that of TCS, Infosys and Wipro. How do you see your self stacked up in opposition to them?
Our natural development is pretty much as good as our friends. We grew 18% in digital, however we’re conservative in how we report these numbers. The expansion is broad-based. We’ve got 4 digital battlegrounds inside our portfolio – digital engineering, cloud, knowledge, and IoT.
Our skill to stroll our purchasers by means of the digital transformation journeys is phenomenal, and our acquisitions add to the capabilities they drive.
Your worker power went up by 17,000, however CEO Brian Humphries stated on the investor name that “the truth is we do not have sufficient headcount to fulfil our potential.” How do you see the expertise crunch?
I don’t know whether or not he stated the precise phrases, however the {industry} goes by means of increased attrition and we’re not distinctive. There may be unprecedented demand for expertise and everybody within the {industry} is impacted.
As we speak, our hiring engine is performing nicely. Our bookings have seen a 24% development year-on-year. If attrition comes down, it is going to assist us develop much more.
Whereas we’re endeavor a whole lot of interventions for the proper set of hiring, we’ve been capable of ship all our commitments to our purchasers. The entire {industry} is ready for some stability.
Cognizant’s attrition is at an all-time excessive at 33%, in comparison with 11% in the identical interval final yr. Together with involuntary attrition, it’s 37%. That is regardless of a number of measures you’ve got taken to retain expertise…
Attrition is an industry-wide concern. We had our personal share of attrition and I’m not denying it. I imagine we’ve a a lot stronger model than ever earlier than. If we don’t have a powerful model, we gained’t have the ability to rent the 100,000 folks that we’re hiring at this time.
We’re the #1 model at this time on campus. We’ve got employed 30,000 individuals and we’ve given gives for 45,000 for subsequent yr. The actions we’ve taken are bearing fruit. Attrition comparisons are additionally not apple to apple. These are unprecedented instances.
Our complete headcount is the best worker rely ever. We’ve got turned a nook and executed nicely.
Involuntary attrition was 4%, in comparison with 1% within the quarter earlier than…
We don’t wish to get into the specifics. It’s necessary to know that managing a workforce of over 300,000 is an artwork. There are areas the place we’ve important alternatives to develop.
There are a lot of points of how we handle the broader expertise pool. We’ve got grow to be a fertile floor for digital expertise.
We don’t have employment bonds and we don’t preserve individuals artificially tied as much as sure service agreements. Others have these bonds. It’s simple for employers to poach from us.
We’re a extremely caring employer for our associates. However we want to have a lot decrease attrition.
In an interview with TOI, Rajesh Nambiar, chairman & MD of Cognizant India, and president of its digital enterprise & expertise, spoke about how Cognizant is making an attempt to take care of this, and the way digital is a key development driver. Excerpts:
Your income development is 11.8% within the quarter, a little bit higher than HCL, however approach beneath that of TCS, Infosys and Wipro. How do you see your self stacked up in opposition to them?
Our natural development is pretty much as good as our friends. We grew 18% in digital, however we’re conservative in how we report these numbers. The expansion is broad-based. We’ve got 4 digital battlegrounds inside our portfolio – digital engineering, cloud, knowledge, and IoT.
Our skill to stroll our purchasers by means of the digital transformation journeys is phenomenal, and our acquisitions add to the capabilities they drive.
Your worker power went up by 17,000, however CEO Brian Humphries stated on the investor name that “the truth is we do not have sufficient headcount to fulfil our potential.” How do you see the expertise crunch?
I don’t know whether or not he stated the precise phrases, however the {industry} goes by means of increased attrition and we’re not distinctive. There may be unprecedented demand for expertise and everybody within the {industry} is impacted.
As we speak, our hiring engine is performing nicely. Our bookings have seen a 24% development year-on-year. If attrition comes down, it is going to assist us develop much more.
Whereas we’re endeavor a whole lot of interventions for the proper set of hiring, we’ve been capable of ship all our commitments to our purchasers. The entire {industry} is ready for some stability.
Cognizant’s attrition is at an all-time excessive at 33%, in comparison with 11% in the identical interval final yr. Together with involuntary attrition, it’s 37%. That is regardless of a number of measures you’ve got taken to retain expertise…
Attrition is an industry-wide concern. We had our personal share of attrition and I’m not denying it. I imagine we’ve a a lot stronger model than ever earlier than. If we don’t have a powerful model, we gained’t have the ability to rent the 100,000 folks that we’re hiring at this time.
We’re the #1 model at this time on campus. We’ve got employed 30,000 individuals and we’ve given gives for 45,000 for subsequent yr. The actions we’ve taken are bearing fruit. Attrition comparisons are additionally not apple to apple. These are unprecedented instances.
Our complete headcount is the best worker rely ever. We’ve got turned a nook and executed nicely.
Involuntary attrition was 4%, in comparison with 1% within the quarter earlier than…
We don’t wish to get into the specifics. It’s necessary to know that managing a workforce of over 300,000 is an artwork. There are areas the place we’ve important alternatives to develop.
There are a lot of points of how we handle the broader expertise pool. We’ve got grow to be a fertile floor for digital expertise.
We don’t have employment bonds and we don’t preserve individuals artificially tied as much as sure service agreements. Others have these bonds. It’s simple for employers to poach from us.
We’re a extremely caring employer for our associates. However we want to have a lot decrease attrition.
Supply: Times of India