Starting February 15, the Indian team of Teaneck, New Jersey headquartered IT giant Cognizant Technology Solutions shall see a nine-hour work day. Along with this, the company has also decided to increase the number of paid leaves in a year.
This move, which is a part of some tactical alterations being brought about within the organisation, shall reduce the utilization by a point or two.
Align Staff Policies With Market Trends:
Almost three-lakh strong workforce, which is almost 75 per cent of the Company’s global workforce works in India. In order to gain competitiveness, Cognizant aims to align staff policies with market standards
Instead of earlier 26, in order to improve the work-life balance of employees, the number of annual paid leaves has been increased to 36.
With respect to the competition, these positive changes are expected to help the Company gain an edge. The expectations of the clients shall be served by the agility and development.
High Attrition & Low Offshore Utilization:
In the December quarter 2020, the attrition rate of Cognizant was 19 per cent, which is highest when it comes to Indian IT giants.
As a result of pandemic induced slump in the job market, many Indian IT companies experienced double-digit attrition.
In the December quarter of 2020, the offshore utilization of IT giant went up to 87 per cent, without taking into account trainees. In the September quarter it was 85 percent whereas in the June it was 80. The onsite utilisation, having crossed 90 percent, is pretty high.