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    Mastek bets on strong deal momentum; says attrition a concern for industry

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    Mastek bets on strong deal momentum; says attrition a concern for industry

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    “Attrition in the market is definitely a concern for the industry as a whole,” said Hiral Chandrana, Global CEO at Mastek. The company was able to get three new fortune 500 clients in the past quarter and Chandrana is hopeful that the trend will continue. He believes there is a fairly changing trajectory in terms of integrated deals that are currently taking place in the industry.

    “Attrition in the market is definitely a concern for the industry as a whole,” said Hiral Chandrana, Global CEO at Mastek, in an interview with CNBC-TV18.
    The company had provided salary hikes to its employees in Q2FY22, effective from late July. He said, “Unfortunately, we announced it a little bit later in the quarter because we wanted to have a full comprehensive view of the various skills and roles, which are critical for our business going forward. We made it effective late July.”
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    “As far as attrition itself is concerned, our HR team is running about seven different initiatives, six of them will get executed in the current quarter; everything from learning and development, skill transformation as well as how do we improve the employee experience with Mastek, a couple of other strategic things that we are planning to do when it comes to talent, which hopefully will mitigate some of the attrition but it is still a big challenge in the industry and we will continue to focus both on training, reskilling as well as improving the employee experience,” Chandrana explained.
    In terms of pipeline and deal size in the market, there has been a solid momentum, he said.
    According to him, the industry as a whole in terms of customer base is going through a fairly big business model transformation post COVID.
    “The types of deals that we are seeing are now starting to be in the USD 5 million – USD 10 million range. Right now, we have got 25 deals which are greater than USD 5 million – we are not going to win all of them but we see a fairly changing trajectory in terms of integrated deals, in terms of much more holistic nature of our service offerings as well as diversity of our penetration into enterprise clients,” he said.
    The company was able to get three new fortune 500 clients in the past quarter. “We see that trend significantly improving for us,” he stated.
    “We are now, hopefully, going to be getting our first USD 10 million account in the US. This is going to be an important milestone for us,” Chandrana said.
    For the full interview, watch the accompanying video.
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