The Nasdaq-listed firm expects to hire more than 23,000 fresh graduates in the country this year.
“India has always been and will continue to be a very important part of what we do in Cognizant. At nearly 204,500, our India headcount at the end of 2020 was Cognizant’s highest ever in the country,” Rajesh Nambiar, chairman and managing director at Cognizant India, told the Press Trust of India. “We continue to be one of the top recruiters of high-quality engineering, science, management and other talent in India.”
The company hired more than 17,000 fresh graduates from campuses in 2020 and expects to hire over 23,000 fresh graduates in 2021—indicating a 35% increase year-on-year.
“Our campus commitment is all about us skilling up and these campus hires will complement our lateral hires. In fact, we’re on track to bring in more new hires in Q1 of 2021 than ever before as we ramp our hiring capacity to accommodate our growth plans for 2021 and beyond,” Nambiar said. “India will continue to be one of our key hubs for talent acquisition.”
The company continues to heavily reskill and upskill its employees.
“We reskilled more than 1.3 lakh employees in digital skills in the last 18 months alone. In addition, we have also been running one of the industry’s most scalable internship programs. Last year, we got 5,000 for internship within Cognizant,” he said.
This year, the programme is being expanded to accommodate 10,000 interns, he added.
There are reports that the company has set up a $30-million “retention fund” to hold back top performers and digitally-skilled employees. While Nambiar did not comment on the development, he said the market for skilled digital talent is intensely competitive, creating demand-supply imbalances for certain skills.
“In key digital areas, there are more open positions than qualified persons to fill those positions. We are therefore heavily focused on maintaining a competitive and appealing employee environment where every person is inspired to achieve, driven to perform, and rewarded for their contributions,” he said.
Cognizant’s revenue fell 2.3% year-on-year to $4.18 billion in the December quarter of 2020. At $16.65 billion, the topline for the full year was marginally lower compared to the previous year. The company, however, is confident about growth in 2021 on the back of a strengthening demand environment.