Hexaware Technologies has set its sights on recruiting 5,000-6,000 experienced professionals in the current year, with a particular emphasis on individuals skilled in data, followed by digital engineering, application development, cloud infrastructure, and Java full-stack.
Although the market remains unpredictable, a representative from Hexaware noted that compensation expectations have not returned to pre-pandemic levels, although they have decreased compared to the significant rise observed last year. Additionally, the ratio of successful joinings has shown improvement.
Insights in Shifting Dynamics in Employee Onboarding
According to Senthil Nayagam K, EVP of Global Revenue Assurance and Chief Learning Officer at Hexaware Technologies, the scenario has changed regarding new employees being more likely to not show up for their job. Previously, it was a random chance if candidates explored multiple job opportunities. However, Nayagam suggests that this has now improved.
Nayagam indicates that employers now have better negotiation power due to recent developments in the job market, which may lead to a softening of candidate expectations over the next 4-6 months.
He further explains that amidst the market volatility and limited hiring by most companies, Hexaware stands out by continuing to hire in substantial numbers. The company’s strong brand recognition motivates candidates to accept the job offers and join the organization. Nayagam adds that the ratio of job offers to actual joinings has improved compared to pre-pandemic levels.
Hexaware’s Workforce & Retention Strategies
Hexaware expanded its workforce significantly in 2022, hiring approximately 4,500 new employees and reaching a total headcount of over 28,000. While the employee retention rate improved from 68 percent in 2021 to 73 percent in 2022, it remained lower than the rate of 80 percent observed in 2020.
By the end of December 31, 2022, the attrition rate at Hexaware had slightly decreased by 1 percent compared to the previous year, standing at 21.9 percent. The company acknowledged the industry-wide trend of increased attrition but expressed confidence in its ability to stabilize the situation through various human resources initiatives.
In terms of office arrangements, Hexaware has adopted a hybrid work environment, offering flexibility to its employees with no mandatory requirement to work from the office.
