TCS, Wipro, Infosys, HCL Desperate For Talent: 1.6 Lakh New Employees To Be Hired This Year!
A few days ago we covered a story based on the great resignation. To put it in few words, it is the term that has been assigned to current high attrition rates being observed. Increased demand for digitization, shortage of skilled labor are some of the many factors that are causing this. IT companies are also making full effort to make sure that there is a required workforce at their stable. On similar lines, the top 4 IT services companies in India are on a hiring spree. They have announced cumulative hiring of more than 1.6 lakh freshers this year.
TCS, Infosys, Wipro, HCL will hire more than 1.6 lakh people this year
The big four IT services companies in India, Tata Consultancy Services, Infosys, Wipro, and HCL — have hiked their projections for the hiring of freshers from the first quarter and have cumulatively projected to add more than 160,000 people. It should be noted that these companies together employ over a fourth of India’s 4.6 million IT workforce.
In the first six months of the year, they added 1,02,517 people, both freshers as well as lateral hires.
IT companies are projecting better days on the horizon
Infosys has increased its revenue growth forecast for the fiscal year on broad-based demand across geographies and verticals in the first half of the year. This has resulted in an increase in demand for tech talent has risen. The company has rolled out another round of salary hikes and promotions, but attrition rates remain high. Similarly, Infosys plans to take on 45,000 freshers, up from the 35,000 projected, to meet rising demand and deal with increased attrition.
At the same time, Wipro added 11,475 employees during the quarter, including 8,000 freshers, its highest ever yet. According to reports, Wipro is expected to hire 16,000-17,000 freshers in the current fiscal year and is targeting to hire 25,000-30,000 freshers next year. To retain young talent for longer, Wipro has begun offering campus recruits not only details of their joining package but also a five-year plan of compensation growth. Wipro will take on 17,000 freshers, up from 12,000, as attrition for both the companies touched 20%.
TCS said that it was increasing its projections for fresher hiring during the ongoing financial year to 78,000 this fiscal year from 43,000 earlier.