Wipro Will Hire 17,000 More Freshers From Indian Colleges; TCS Hiring 77,000 Freshers In Next 12 Months
Wipro has announced that it will hire 17,000 freshers from campus this year.
Its earlier target was 12,000 but this had to increase due to rising demand for IT engineers.
Hiring Increases But So Does Attrition
The company hired a record number of 8,100 freshers in the June-September quarter.
It is positioned to hire 25,000 people in the next financial year.
It also saw a spike in attrition rate In the second quarter at 20.5% up from 15.5% in the last quarter.
Saurabh Govil, Global HR Head, said that the firm plans to hire 30,000 freshers from the campus for the next financial year 2022-23.
How Rivals Fare
The 17,000 hiring target is 33% more than last year.
The quicker pace of its hiring is part of a concerted effort to tackle rising attrition and build the supply chain.
Rivals TCS and Infosys also plan to hire 77,000 and 45,000 college graduates this fiscal respectively.
Hiring Target Increased
Both companies have increased their hiring target.
Infosys had earlier planned to hire 35,000 freshers which has now gone up by 10,000.
Similarly, TCS had initially planned to hire 40,000 freshers but has increased it to 77,000.
Cognizant has recorded the industry’s worst attrition rate of 33% during the September quarter.
In comparison, TCS recorded the lowest attrition rate of 11.9%, HCL Technologies at 15.7%, Infosys 20.1% and Wipro 20.5%.
CEO Brian J. Humphries said during the Q3 Earnings Call that it is focusing on retaining talent and recruitment.
It will boost employee engagement through initiatives supporting their career growth and annual increments in the fourth quarter.
It will hire as many as 45,000 new graduates by 2022 and one lakh lateral hires during the current fiscal year.