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Tech Mahindra is doubling its talent supply in digital technologies not just by cross-skilling, upskilling and hiring from the existing talent pool in the industry but also by looking for fresh talent in nine Tier-2 cities including Bhubaneshwar, Nagpur, Chandigarh, Thiruvananthapuram and Kolkata. The company is also skilling and hiring employees through centres of excellence in its overseas markets.
The IT major’s attrition rate for the quarter ended September stood at 21 per cent, up from 17 per cent in the previous quarter. Total headcount post the quarter was 1,41,193 after adding 14,930 employees in Q2.
CP Gurnani, Managing Director and CEO, Tech Mahindra, told BusinessLine, “When we were budgeting, we had accounted for 15–18 per cent attrition. 21 per cent hurts, but we have been doubling our supply of talent by upskilling and cross-skilling, hiring for the future and going where the talent is. We are looking at Tier-2 cities. So, today I am augmenting my capacity in Kolkata, Bhubaneshwar, Nagpur, Chandigarh, Thiruvananthapuram. We are also looking at overseas markets. We now have four development centres in Mexico.”
New acquisitions
Tech Mahindra also acquired two firms for strengthening capabilities in digital engineering and experience design. California-based digital engineering firm Lodestone came with around 300 employees which helped with adding talent with niche expertise.
Also see: Tech Mahindra records new highs on strong Q2 earnings
Vivek Agarwal, President — BFSI, HLS and Corporate Development for Tech Mahindra, told BusinessLine , “The new acquisition we announced has a big development centre in Ahmedabad.”
“In senior management cadre, we have been hiring for the past six quarters. And we have been able to hire the best talent from within the industry and beyond. We are hiring to increase the tech quotient of the firm and are now adding more native digital people. That’s where the market is focussed and where we are heading,” Gurnani added.
“We have been focusing on sustainable profitable growth. We have seen a significant acceleration in growth led by 5G. All our key growth verticals — BFSI, HLS and high tech — continue to grow at a good pace. We have seen an overall increase in technology spending,” said Gurnani.
Growth in 5G
Within 5G, the company sees opportunities in the telecom sector and in providing advanced IoT solutions for running properties like smart factories, airports and hospitals using the campus-based network for 5G.
Gurnani said, “We are looking at two ways for growth in 5G. We will be working with telcos getting a 5G licence and campus-based network for 5G. It is all about accelerating a smart factory, airport, hospital. Wherever there is a foundation for better connectivity and/or a requirement for advanced IoT solutions, that’s where we work very well.”
Also see: IT firms poaching talents to meet 5G service demand
“Our expertise is in areas of software defined network, particularly radio networks. We want to play a dominant role in the software defined network space, whether as a system integrator or a managed network service provider,” he said.
“The strategy is very clear: provide digital connectivity with 5G to make organisations efficient,” he added.
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