Information technology major Cognizant Technology Solutions Corp will hire more technical graduates in India this year, as students become equipped with digital skills. “With more and more university students becoming digitally ready, we have decided a 30% increase in our hiring of engineering and science graduates for 2020. We plan to hire more than 20,000 students from campuses in India," Brian Humphries, CEO, Cognizant said.
The IT major has also increased campus salaries for engineering graduates by 18% to ₹400,000 per year.
“The acceptance rate for offers we have made in about 100 premier engineering campuses is more than 80%, reflecting increased confidence in Cognizant. This is much higher than recent years," Humphries said.
The increase in hiring in India comes at a time when Cognizant announced laying off 10,000-12,000 employees globally in the July-September quarter of 2019, as part of its cost optimisation programme to simplify its organisational structure.
Last year, Cognizant became the second IT company after Tata Consultancy Services (TCS) to employ over 2 lakh employees in India. TCS is India’s largest IT sector employer with a total headcount of about 4.4 lakh employees.
“India is a high-growth, attractive market for Cognizant," Humphries said.
Cognizant aims to leverage local talent and capabilities within India. “There is a palpable initiative among Indian enterprises to attain and in some cases even define global benchmarks in digital adoption. They are increasingly focusing on the imperative to ‘think fast’ and ‘think forward’ in order to strengthen their relevance for the future," Humphries said.
Last week, Cognizant expanded its presence in Karnataka with a new, 1,00,000 square feet facility in Mangaluru, which can accommodate more than 1,100 employees. Besides this, it has operations in Bengaluru and Mysuru with about 29,000 employees. The company’s majority of employees are based in Chennai.
Apart from India being its largest hub for employees, Cognizant also sees a commercial opportunity in the country.
“We have built a very strong position in India as a market with our digital solutions, as well as end-to-end transformational engagements in industry sectors such as financial services, insurance, retail, life sciences, manufacturing and education. We currently have approximately 80 clients in India across these industries," Humphries said.
India’s strength in digital capabilities is in tune with Cognizant’s global vision wherein it is focussing to extend its capabilities in four key areas – data, digital engineering, cloud, and internet of things (IoT). The company’s digital revenue continues to grow above 20% year-on-year and represented about 38% of the total revenue for the fourth quarter ended December.
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