Tech Mahindra hinted at hiring around 4,000 freshers over the next three quarters in a recent investor call. The company said that it is focusing more on "demand-based" hiring instead of creating an inventory.
Already having hired about 1,800 fresh graduates in the first quarter of fiscal year 2018-19, Tech Mahindra Chief Financial Officer, Manoj Bhat in a recent investor call said, "I think over the next three quarters, I do not have a ready number, but our estimate would be about 4,000 people roughly, but it could vary a bit so do not take that as a number, but it is just an indicative view," PTI quoted.
The Mumbai-based IT major had a total headcount of 1.13 lakh people at the end of June 2018 quarter, which means 745 people were added to the workforce over the preceding quarter. The headcount was 72,462 people in software, 34,700 in BPO and 6,390 in sales and support function in the June-ended quarter.
Tech Mahindra CEO and MD, CP Gurnani said trends suggest that hiring is no longer linear to the growth of companies and fresher hiring is distributed and equally important across its centres worldwide. He further explained that the company's focus is on demand-based hiring instead of creating an inventory.
Talking about high attrition rates at the firm, Bhat said that the company's focus is on retaining key talent, and it wouldn't impact its ability to execute. "As of now it is still probably under control and we will continue to monitor it closely," he added.
The company reported attrition at 19 percent (last 12 month basis), and utilisation levels were at 81 percent (including trainees). Tech Mahindra COO, L Ravichandran added that the company is looking at different kinds of training and very specific online-based training, so that the trainees can become billable very quick.