Tech Mahindra to double hiring in current fiscal

IT giant Tech Mahindra is planning to double its hiring in this fiscal as compared to the previous quarter. This comes on the back of increasing attrition rates which has spiked by 21% for the quarter ending September 30. In an exclusive interview with Business Standard, Global Chief People Officer, Harshvendra Soni said that the company has created a talent war chest and is looking at targeted retention, instead of giving wages across the board. He also added that on a quarterly annualised basis, the attrition has come down by 10 basis points for this quarter.

He also said that the company will be offering a hike of up to 20% in salary for those who are able to upskill themselves in niche skills.

Acquisition to be part of the company’s strategy

The company is increasing engagement activities by looking at both short-term and long-term incentives, he said. In terms of hiring, he said that Tech Mahindra has hired significantly higher numbers at the bottom of the pyramid. This was almost double of that in the first quarter and would continue to do that and upskill them to take on higher roles, he added.

Soni further said that the joining rate has doubled in the second quarter as compared to the first quarter. Even in the south, the offers doubled which was significant.

The Chief People Officer said that acquisition will be part of their strategy, going forward, as the company focuses on new tech deals. He said that the company is committed to bringing some of the acquired company leadership into the main management team. Hence the acquisitions are for capability, management bandwidth, and for augmenting delivery capability, he added.