43% Indian IT Firms Will Give 1-Month Salary As Bonus; 53% IT Firms Will Hire In 2021

Indian IT companies blooming as they post high revenues, increased margin, increased investments in technology and robust hirings

Indian IT companies have negated the naysayers and that is reflected from the fact that TCS has trumped Accenture to become world’s most valuable IT Company. Robust hirings, encouraging quarterly results and a rising stock market value is a testimony to it.

Last year due to pandemic, the hirings were on a decline. According to Michael Page India, a professional recruitment services firm, in 2021, 53 per cent of companies say they are planning to increase their headcounts.

Bonuses & Robust Hirings:-

With 60 percent employers intending to increase salaries of employees to 55 percent employers planning to give bonuses to employees to 43 per cent getting more than a one month’s worth of bonus, the overall outlook has been optimistic for India IT.

There has been increased in demand for professionals in spaces like artificial learning, machine learning software-as-a-service (SaaS), health-tech & edutech. Many Indians returned to their homeland due to corona and many companies have capitalized this opportunity.

Under the hybrid work model, corporates plan to give flexibility to the right candidate and are open to remote talent as option as 74 percent of these companies plan to increase a headcount by 14 per cent.

The top four Indian IT firms, namely, TCS, HCL, Infosys and Wipro plan to collectively hire almost 91,000 from campuses as a plan of robust hirings as there has been a sharp increase in demand.

Uptick In Hardware And Software:-

There has been an uptick in hiring for hardware and software professionals, as increasingly businesses are going virtual. According to a report of Naukri.com, Globally, IT has been one of the least impacted sectors as far as hiring is concerned.

On Naukri.com, for both hardware as well as software, there is been an upward trend in month-over-month recovery for job listings.

The earnings of Indian IT giants has trumped the estimated earnings for two quarters straight, as operations returned to normalcy. In the financial year 2022, TCS as well as Infosys have guided double-digit growth.

A sequential revenue growth has been reported by these top 4 IT companies. All have made higher investments in cloud computing, artificial intelligence and internet of things, and new deals. Infosys, followed by TCS, Wipro and HCL Tech, has posted highest 5.5 % growth in the top line.

Lower travel expenses as well as work from home, has helped these firms to increase margin for second quarter in a row. Wipro saw the biggest jump in 3 months, while TCS posted the highest margin.

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