Business

Tech Mahindra hints at hiring 4,000 freshers

The company is also concerned about attrition of key talent.

New Delhi: Tech Mahindra indicated at hiring around 4,000 freshers over the next three quarters as the IT services major focuses more on demand-based hiring instead of creating an inventory. The company has already hired about 1,800 fresh graduates in the first quarter of the ongoing fiscal, Tech Mahindra Chief Financial Officer Manoj Bhat said in a recent investor call.

“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,” he said.
Tech Mahindra CEO and MD CP Gurnani said trends suggest that hiring is no longer linear to the growth of companies. Also, fresher hiring is distributed ie a centre in Plano, Munich or the UK is just as important for hiring as the Indian market is. “…the focus is more on demand-based hiring instead of creating an inventory,” he explained.

Talking about high attrition rates at the firm, Bhat said the company is concerned about attrition of key talent, but is it something that 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.

Tech Mahindra reported attrition at 19% (last 12 month basis), while utilisation levels were at 81%.

Headcount:

1,13,552: people at the end of Q1

72,462: software headcount

34,700: employed in BPO

6,390: in sales and support function

Agreement on Blockchain Dist

  • The Telangana State Information Technology, Electronics and Communication department (ITE&C) has signed an MoU with Tech Mahindra to launch Indias first Blockchain district here.
  • Tech Mahindra as a founding member of the blockchain district will provide the platform and technology assistance to all the incubators in it.
  • It will provide an opportunity for the blockchain ecosystem to collaborate and work towards building a blockchain district in Telangana and transforming India as the blockchain capital.
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