It seems like India’s top IT companies are on a hiring spree as per the report, the top five IT services firms including Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro and Tech Mahindra added over 64,332 employees in the six months to September 2019.
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How Did This Happen?
Which is almost 18% more than what they hired in the same period last year.
These IT companies recruited 54,642 people in the corresponding period last year.
As we the recent trend, the top Indian IT services firms have increased their hiring at the entry-level and they continue to get rid of employees in the mid-level (having 10-15 years of experience), having experience in traditional services.
Who Are In Demand?
As per the trend, these companies are recruiting from college campuses and rivals as they shore up their workforce to execute projects in newer digital deals, which are growing in double digits.
While the digital business contributes to over a third of revenue for most IT companies.
According to Sangeeta Gupta “If you look at the potential demand, the absolute revenues are growing in the range of 6-8%, and the industry is hiring to meet that demand,”. (Reference)
She is the chief strategy officer at industry lobby group National Association of Software and Services Companies (Nasscom).
According to her, the overall hiring outlook for the IT industry remains positive. “The industry will be a net hirer. The hiring will be similar to last year’s, which was a good year for hiring,” Gupta said.
What About The Campus Hiring?
To meet the growing demand for talent, Indian firms are also hiring thousands of people from college campuses.
While traditional companies watching their business disrupted by startups are adopting technology to remain competitive.
This year, TCS has made 30,000 offers to hire from campuses. While Infosys hired around 18,000, on the other hand, Wipro plans to hire 20,000 fresh graduates, the business daily mentioned.
What About Digital Business And Application Development?
While talking about the latest earnings release for the September quarter, TCS said “Hiring continues to be very strong to fulfill the order book. Net addition in Q2 was 14,097, the highest-ever number of employees to be onboarded in a quarter,” TCS said in its.
They also informed that the digital business is growing at a faster rate for Indian firms, they are also witnessing no growth or drop in traditional services such as application development and maintenance.
Traditional services contribute over two-thirds to their revenues and the slow growth is impacting mid-level jobs.
Almost 60-65% of the current IT jobs are likely to undergo huge changes over the next five years, making reskilling and upskilling significant as the industry’s focus has shifted towards new technologies such as artificial intelligence and machine learning, according to Nasscom.