03-12-2010, 02:03 PM
[size="6"]4,000 employees quit Infosys in Feb? [/size]
NEW DELHI: Brokerage firm CLSA said over 4,000 employees may have resigned from Infosys in February alone, largely driven by an uptick in business
environment that has created a huge demand for talent, after a lull.
The normal attrition numbers in Indiaââ¬â¢s second-largest software exporter is around 1,200 employees a month.
ââ¬ÅThere is quite a bit of industry chatter that 4,000-4,200 employees have resigned at Infosys in February. This is not officially confirmed by the management, but multiple sources are claiming the same number, including industry blogs,ââ¬Â CLSA said in a note to its clients. However, Infosys group HR head said it was not true.
ââ¬ÅThe information is grossly incorrect. Attrition has been increasing in the past three months and this is largely because after two years, jobs are picking up. But the 4,000 number is not true,ââ¬Â he said.
The note further said that the number is important as 4,000 in a month is a big number compared with the normal attrition levels, which would be around 1,200 employees a month, on a total headcount of 1,10,000.
ââ¬ÅWith business coming back strongly, hiring has picked up on a war footing. TCS and Infosys have the industryââ¬â¢s best training programmes, and the relatively dissatisfied category of employees here are the prime targets for poaching,ââ¬Â the note said.
But CLSA said the spike in attrition was no cause for concern as such spurts of hiring and resignations are normal in the IT industry, at the start of an upturn. Besides, Infosysââ¬â¢ is best placed to rapidly deploy programmers in case of such exits, as it has nearly 20,000 free resources right now, possibly the largest bench strength in the industry.
ââ¬ÅInfosys is still best placed to face the hiring storm, pays the highest salaries among like-sized peers and has the largest unused bench of programmers,ââ¬Â CLSA said. But it was cautious on Wipro, which has too few extra resources.
http://infotech.indiatimes.com/news/soft...674643.cms
NEW DELHI: Brokerage firm CLSA said over 4,000 employees may have resigned from Infosys in February alone, largely driven by an uptick in business
environment that has created a huge demand for talent, after a lull.
The normal attrition numbers in Indiaââ¬â¢s second-largest software exporter is around 1,200 employees a month.
ââ¬ÅThere is quite a bit of industry chatter that 4,000-4,200 employees have resigned at Infosys in February. This is not officially confirmed by the management, but multiple sources are claiming the same number, including industry blogs,ââ¬Â CLSA said in a note to its clients. However, Infosys group HR head said it was not true.
ââ¬ÅThe information is grossly incorrect. Attrition has been increasing in the past three months and this is largely because after two years, jobs are picking up. But the 4,000 number is not true,ââ¬Â he said.
The note further said that the number is important as 4,000 in a month is a big number compared with the normal attrition levels, which would be around 1,200 employees a month, on a total headcount of 1,10,000.
ââ¬ÅWith business coming back strongly, hiring has picked up on a war footing. TCS and Infosys have the industryââ¬â¢s best training programmes, and the relatively dissatisfied category of employees here are the prime targets for poaching,ââ¬Â the note said.
But CLSA said the spike in attrition was no cause for concern as such spurts of hiring and resignations are normal in the IT industry, at the start of an upturn. Besides, Infosysââ¬â¢ is best placed to rapidly deploy programmers in case of such exits, as it has nearly 20,000 free resources right now, possibly the largest bench strength in the industry.
ââ¬ÅInfosys is still best placed to face the hiring storm, pays the highest salaries among like-sized peers and has the largest unused bench of programmers,ââ¬Â CLSA said. But it was cautious on Wipro, which has too few extra resources.
http://infotech.indiatimes.com/news/soft...674643.cms