Source | The Huffington Post
Among a slew of measures to stop people from quitting, technology services company Infosys is now using an algorithm to identify employees who may be likely to quit, according to an Economic Times report.
The company has developed a software program that can help the company control its attrition rate, the rate of people leaving, Infosys EVP Krishnamurthy Shankar, told ET.
“We’ve developed a predictive analytics tool or rather an algorithm which identifies who are the people who are at risk of leaving,” said Shankar.
Infosys has been trying to stem its high attrition rate, which stood at about 21 per cent for the April to June quarter. The company has also seen a string of senior departures in recent months. Last month, Samson David, Infosys’ head of cloud, infrastructure and security business, and head of its artificial intelligence platform Mana, resigned to join Hewlett Packard.
Last month, the company said it would bring back employee stock options, which can turn into ownership shares in the company.
The company has also introduced new leadership programmes to groom potential leaders, said Shankar.
This year, Infosys has also given wage hikes of about 6-12 per cent to its employees in India and about two per cent to onsite workers, apart from offering equity as an incentive to top performers.
Infosys is in the middle of a major turnaround strategy under its chief executive Vishal Sikka.