The COO of the company, Pravin Rao said as the demand for digital talent explodes, rising attrition in the industry poses a near-term challenge and they plan to meet this demand by expanding their hiring program of college graduates for FY 22 to 35,000.
He also said that 10,000 have already been recruited, while the rest of the hiring is expected in the next quarters.
The company also saw a rise in voluntary attrition in its IT services domain which shot up to 13.9 percent in June quarter compared to 10.9 percent in the previous one. When compared with the same quarter last year, it has reduced by 2 percent from 15.9 percent.
Rao said that voluntary attrition, in some sense, is an area of concern, but it also reflects the high demand environment along with the shortage of supply. He expected the situation to continue until the supply catches up.
In a bid to control attrition and retain the existing talent pool, Infosys has rolled out two salary hikes this year. The first one was effective January and the second was with effect from July.
Rao said that with opening up of markets and demand picking up, companies began to hire in large numbers, which led to higher attrition in FY21 compared to FY20.