TCS, Wipro, Infosys Stops Hiring Experienced Staff; 40,000 Freshers To Be Hired: But Why?
A piece of good news for the freshers as now they have a better shot at getting hired in one of the well known Indian IT companies in the second half of the year.
Lower Attrition Rate
Reportedly, Indian IT companies such as Tata Consultancy Services (TCS), Infosys, Wipro, HCL Technologies and Tech Mahindra are witnessing the lowest of the attrition rates that they’ve seen in a while.
This is definitely affecting lateral hiring as mentioned by Apparao VV, the Chief Human Resources Officer at HCL Tech.
He said, “A large amount of lateral hiring happens because of attrition replacement. If I’m losing 20 people, I have to hire 20 people. To that extent, lateral hiring will come down,”.
Increase In Fresher Recruitment In Indian IT companies
Now IT companies are looking to hire fresher talent.
In the same line, HCL Tech is planning to onboard another 9,000 freshers before March 31, bringing the total of new hires to 12,000 in the current fiscal year.
Apparao mentioned “We have not yet finalized. We’re doing a bottom-up exercise where we ask each of the businesses, what is the growth they see. Part of it will be based on form booking and a part of it will be based on anticipation — past number. But it won’t be less than 10,000,”.
Infosys, which already onboarded close to 16,000 freshers this year, is planning on recruiting another 15,000 for the next year.
Wipro And TCS Hiring
Apart from HCL Tech and Infosys, India’s biggest IT firm TCS is also looking for onboarding freshers since July.
Milind Lakkad, the CHRO TCS said, “We started onboarding freshers and increased our recruitment globally in Q2 in anticipation of the growth trajectory,”.
Further, they are planning to recruit over 10,000 employees till next year in the US due to the uncertainty around H-1B visa regulations.
As part of the efforts to localize, they have hired around 21,500 employees in the country over the last five years.
In the case of Wipro, so far they did not disclose any exact numbers but they do have ‘robust’ hiring plans for the second half of this fiscal year.
During the second-quarter earnings call, the company’s CHRO, Saurabh Govil said, “Very robust hiring this quarter, both laterally and on campus. We continue to see the same momentum going forward,”.
It seems that India’s IT sector is among the first to recover from the economic impact of the coronavirus pandemic.