Over half of Infosys’s newly hired employees are being employed off campus as part of a major shift in the company’s hiring practices.
The company’s goal for hiring students on campuses during the 2025 fiscal year is still up in the air.
More Than Half of Employees At Infosys Hired Off Campus
For at least the final three quarters of the fiscal year 2024, hiring on campus was not done.
As per reports, Infosys hired over 51,000 freshers in the fiscal year 2023. These specifics were disclosed by the company’s chief financial officer, Jayesh Sanghrajka, at the Infosys fourth-quarter earnings announcement in Bengaluru.
Sanghrajka said, “We have changed our hiring model significantly. We no more hire all the freshers from campus. We hire less than half of them from campus and more than half of them off campus.”
“At this time, we have 82 percent utilisation rate, we still have headroom to grow; and attrition levels are also very low. We have not yet decided on the campus hiring numbers at this point.”
With its present utilization rate of 82%, Infosys hopes to reach a healthy 84–85% percent growth rate. Additionally, Infosys has extremely low attrition rates.
Infosys Announced Decrease in Full Year Headcount
Infosys announced a decrease in full-year headcount addition in fiscal year 2024—the first in at least 23 years. In fiscal year 2024, the company’s overall personnel fell by 25,994. For the seventh straight quarter, Infosys’ headcount decreased on a quarterly basis.
Infosys decreased their Q4 hiring by 5,423 people in a row. Over the course of the fiscal year, the company’s utilization rate increased from 77% to 82%.
There was a realignment of components at the beginning of the year due to a new growth environment. The attrition rate at Infosys has also dramatically dropped. For the fourth quarter that concluded on March 31, Infosys posted a net profit of Rs 7,969 crore, above marketplace predictions.
The fourth quarter’s revenue was Rs 37,923 crore. Due to erratic demand, the company cut its revenue growth projection for FY25 from 4–7% to 1-3 percent. An operating margin range of 20–22 percent has been projected for FY25.
