The company had hired around 21,000 individuals from campuses in India and abroad during the previous financial year, Infosys said in a virtual press meet today.
The company reported an attrition rate of 15.2 per cent at the end of the March quarter, a sharp spike from 10 per cent in the previous quarter. This despite the company undertaking a pay hike in January.
The company net hired 10,309 individuals in the March quarter and 17,248 in the previous financial year.
“Attrition has picked up, largely reflecting a strong demand environment, but we remain confident of our employee engagement initiatives, vast talent pool and training capabilities to ensure seamless execution,” said Chief Operating Officer Pravin Rao.
The company’s Chief Executive Officer Salil Parekh in a recent analysts conference had alluded to a brewing talent war in the sector due to high demand for work and constrained supply for skilled workers.
Infosys guided for consolidate operating margin of 22-24 per cent indicating that it expects some pressure on profitability due to higher spend on talent retention and pay hikes. In 2020-21, the company reported consolidated operating margin of 24.5 per cent.
