iGate aims to peg attrition at 14 per cent

IT services company iGate Global Solutions aims to bring down the attrition rate to 14 per cent over the next six quarters from the present 16.5 per cent by integrating all services under one roof and introducing a series of employee-friendly programmes.

Having already set in motion the integrated Technology and Operations (iTOPS) model, it has attracted the attention of both customers and employees.

Under the iTOPS model, customers will be offered IT services, software development and maintenance of IT operations. In the process, employees will be able to work on all aspects of the customer's project.

"Of the 6,300 staff employed across multiple centres, 4,900 have already been brought under the iTOPS model. The rest will be brought under iTOPS model in the next six quarters. In fact, the new approach has already paid results. During the last six months we have brought down the attrition rate from 24 per cent to 16.5 per cent which is lower than the industry average of 18 per cent," iGate Global Solutions Global Head (Human Resource) Srinivas Kandula, told Business Standard.

He pointed out that the employees have been voluntarily showing interest in working under the iTOPS model. "It will give them exposure to all kinds of activities within the company. They can acquire skills across all domains. They will not be relegated to one particular line of work. They even have the flexibility of seeking a change. This approach has not only increased their job satisfaction, but also helped the company in retaining the staff and improving productivity," he said.

The Rs 805 crore company has 30 active clients and most of them are getting their work done under the iTOPS model. Recently, the company signed a technology services agreement with the Union Bank of California.

"It gives us confidence that our iTOPS model is gaining more acceptance and momentum," said iGate Global Solutions CEO Phaneesh Murthy.

Apart from providing the employees an opportunity to work under the iTOPS model, the company offers other benefits like stock options, career plans, education plans, sabbatical and relocation.

"It is our aim to retain the employees for at least 7-10 years. Last year, the average hike in compensation of the employees across the board was 14 per cent," Kandula said.

Of the 6,300 employees, 2,900 are in Bangalore, 900 in Chennai, 700 in Noida, 600 in Hyderabad, 800 in North America and the rest spread across Singapore and Malaysia. The company plans to increase the staff strength to 6,700 by the end of this fiscal.