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| Tech Mahindra CEO and MD, CP Gurnani support side gigs during moonlighting. |
Tech Mahindra CEO & MD, CP Gurnani support second jobs for employees in free time.
Tech Mahindra CEO and MD, Mr. CP Gurnani said We can allow second part time jobs, during moonlighting discussion. He says, employee can earn through side gigs but with transparancy. CP Gurbani also said moonlighting is not illegal if employee will discuss with us.
Tech Mahindra (TechM) is the largest tech company in india. TechM is a digital company and focus only on digital evolution. CP Gurnani said “Between legacy and digital, we are a digital company. But of course our, intent is always with boundaries and that does not change."
The management said that Tech Mahindra as a employer, We are happy, if any employee wants to do second job, but employee should be productive and completing all the assigned task in Tech Mahindra. Only employee has to take permission on what type of second job he is doing.
CEO and MD of Tech Mahindra, CP Gurnani says that employees should not hide such activity, however if employees found into moonlighting without the our approval then a ‘no tolerance’ policy will be followed. Employee can decide other job in his or her free time, but they needs to discuss this with us, then post discussion employee can join any part time jobs.
The attrition rate declined in last quarter for Tech Mahindra. Earlier it was more than 21% but in September quarter attrition was only 20 percent. During discussion Company said the TechM has hired more than 5000 new Techmighty in the last quarter, But it was more hired candidates in 1st quarter this year. Currently the active headcount is 163,912 employees in Tech Mahindra.
Some IT giant companies like Wipro, TCS, etc not accepting moonlighting by their employees in free time. Wipro had fired 300 employees for moonlighting and CEO Mr. Rishad Premji says, "This is cheating." TCS COO Mr. N Ganapathy also pointed moonlighting as ethical issue. They are strictly pointing moonlighting as illegal activity for employees.
Tech Mahindra operating profit increased by 17.6% year on year basis during fiscal years, but the this profit has a little declined in current financial year FY22. It was 18.01 % in FY21, but it has come down to 17.9% in FY22. Depreciation cost increased by 4.3% and financial cost decreased by 6.6% year on year basis.
Tech Mahindra is the 5th largest IT service provider in India. It is completely a digital firm with transparancy. The net profit continuously growing year on year. The net profit margin increased to 12.6% from 11.5% in the current financial year FY22. Last financial year it was 11.5% net profit margin.
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