Cognizant, an American multinational information technology services company, is not currently mandating its employees to return to the office.
During an earnings call on Thursday, Cognizant CEO Ravi Kumar S stated that they consider social capital important, especially for freshers who may require guidance. While managers’ presence at work is deemed impactful, they plan to have a more natural progression of return to work.
Ravi Kumar S also mentioned that their flexible return-to-work approach has had a positive impact, encouraging more women to join the workforce without adversely affecting them.
Cognizant has maintained its commercial momentum with strong bookings growth of 17% year over year, including a significant portion from large deals. Additionally, the initial investment in the Cognizant Neuro AI platform has resulted in over 100 early engagements as clients embrace generative AI.
The company has seen a reduction in voluntary attrition, improved employee engagement, and higher customer satisfaction scores, reflecting the positive correlation between client and employee experiences.
As of the end of the second quarter, Cognizant’s total headcount was 345,600, a decrease of 5,900 from Q1 2023 and an increase of 4,300 from Q2 2022.
While other tech giants like TCS, Accenture, IBM, Google, and Infosys are calling their employees back to the office, Cognizant has chosen to continue its flexible return-to-work approach.
Recent policies implemented by other companies include Google mandating employees to be in the office for at least three days a week, and Infosys opening new state-of-the-art facilities to promote hybrid work and provide greater flexibility.
The Return to Office initiative is gaining momentum, with TCS having 55% of its workforce already working in the office three times a week.
Rishad Premji, Chairman of Wipro, expressed his desire to see employees return to workplaces and transition from the work-from-home mindset, emphasizing that hybrid work is likely to be the future for most workplaces.
Accenture has instructed its Team Leaders and Managers to ensure their team members are working from their base locations by August 31, 2023.
IBM CEO Arvind Krishna warned employees that not returning to the office could hinder their career opportunities, especially for managerial roles, as remote work may make it tougher to observe and assess their performance in different contexts.
Persistent Systems has also opened smaller offices in Pune and Bengaluru to lure employees back to the office culture, reducing travel time and providing more convenience