Young techies leaving Infosys in droves

Bangalore: Even Shibulal has expressed the desire to leave before superannuation in March 2015, when he turns 60, the age the company's board set for executives to retire.

Though the blue-chip company added 10,997 employees in the quarter under review (Q4) and 39,985 for the entire fiscal, exit of 8,996 in last three months and 36,268 in 12 months resulted in net addition of just 2,001 in Q4 and only 3,717 for the year.

The attrition rate in the third quarter (Oct-Dec) of the last fiscal (2013-14) was 18.1 percent and 16.3 percent year ago (previous fiscal 2012-13).

To halt more exits, the company gave a six-seven percent compensation hike for new new fiscal (2014-15) to offshore (domestic) employees and one-two percent hike to onshore (overseas) engineers, besides promotions and progressions.

“We also gave six-eight percent compensation hike for offshore employees and three percent for onsite employees in May and June last year. We are recruiting about 200 people for sales this fiscal (FY 2015) from the best of the global business schools, including Harvard, MIT and Stanford,” Shibulal said.