IT-major Infosys' board is taking steps to stem attrition, especially at lower levels, reports The Economic Times.
The company reported an attrition of 23.4 percent for the June quarter, higher than the previous quarter’s number of 20 percent. The rate of employee exits at the company is usually between 13 percent and 15 percent.
Also read: TCS and Infosys Q1 results: A case of contrast in growth and attrition
“The board is trying to understand why this is happening and address it. They do not see it as alarming yet,” a source told the publication, adding that so far, the number of exits have not affected services offered to clients.
Moneycontrol could not independently verify the story.
“If there is attrition of critical talent, then there is an issue. But here we are looking at a higher attrition at lower levels. The (company) HR has some good approaches to stem the attrition even at the lower level and they will be monitoring the situation to see how effective those measures are,” the article quotes a source as saying.
Infosys, which has over 2.29 lakh employees, intends to hire 18,000 people from campuses in FY20. Tata Consultancy Services (TCS), Infosys’ biggest competitor, on the hand had a much lower attrition of 11.6 percent in the April-June quarter. The company hired 12,356 staff during the quarter, the highest in five years.
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