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Cisco adds 129 crorepatis in a year to retain talent

The number of crorepatis at Cisco India shot up to 132 in 2014 from just three in the previous year, a development that comes at a time when the USbased network equipment maker is gearing up to cash in on Prime Minister Narendra Modi’s ‘Digital India’ initiative. With a fresh investment of $1.7 billion, the company is offering huge salary hikes to retain employees, even as it looks to hire the best engineering and sales talent from local as well as international markets.

“Cisco faced high attrition in the middle and top management in 2012-13 and, thus, it was important for them to do everything they could to retain their top talent,” said Sanchit Gogia, chief analyst at Greyhound Research. “The company is betting big on Modi’s ‘Digital India’ campaign and is improving its engineering skills in India to build better solutions. Therefore, apart from top engineers, the company has also hired many highly paid sales executives.” In August 2013, Cisco announced a global plan to lay off 4,000 employees.

To read the Full Article, click here: The Economic Times