Cognizant plans employee sops to arrest highest attrition rate among peers

Chennai: Cognizant reported the highest attrition of 33% among IT services majors, prompting CEO Brian Humphries to allocate higher bonuses to retain employees amid the war for talent across the tech industry.

In comparison, attrition stood close to 20% for Infosys, Wipro and Tech Mahindra while TCS and HCL reported 11.9% and 15.7%, respectively, in the quarter to September.

Humphries told analysts that Cognizant is creating 2020 bonuses at higher levels than 2019 and will also implement targeted merit increases and promotions in the fourth quarter.