TCS, Infosys, TechM, HCL, Wipro Will Hire Record 1.8 Lakh Indians In 2022: Skills In Demand?

TCS, Infosys, HCL Tech, Wipro and Tech Mahindra are all set to hire a record 1.8 lakh freshers this fiscal with growing digital transformation all over the world.

These firms hired over 80,000 freshers in the same period last year, a momentum they seek to continue in the next year as well.

These companies are increasing their hiring also to offset losses caused by attrition due to demand for a limited talent pool available in the market.

Implications 

Over 2 lakh people were hired by these 5 between January and December 2021 which validates the ongoing war for IT talent in the industry.

This is a multifold increase from the 35,000 net employee addition in FY21.

The surge in demand for talent shows no signs of abating.

Companies are continuing to sign deals despite the absence of mega deals (over $500 million in value).

This gives them the confidence to end the year on double-digit growth.

Double Digit Growth Expectations

Infosys raised its revenue guidance for the third time to 19.5-20%.

It had started the year with 12-14%.

TCS and HCL Tech have not shared their figures but are expecting double-digit growth as well.

Wipro is expected to end the year with a 27-28% growth on a year-on-year basis.

Attrition

TCS and HCL Tech reported attrition rates of 15.3% and 19.8% respectively for the quarter ended December.

Infosys, Wipro and Tech Mahindra are dealing with attrition rates of 25.5%, 22.7% and 24%, respectively.

This is pushing them to expand their fresher hiring programs.

Wipro CEO Thierry Delaporte said that despite a lower than expected attrition rate of 22.7%, they have increased their numbers for fresher hiring.

It plans to hire 30,000 freshers in FY23.

Companies’ Response

Tech Mahindra CEO and MD CP Gurnani said that it is trying to curb attrition through better employee engagement.

It is also setting up broad-based delivery centres in India and overseas.

He said that the company has “added more manpower in areas such as Vizag, Kolkata, Chandigarh, Bhubaneshwar and Nagpur, thanks to the technology, and work from anywhere.” 

It is also increasing its campus hiring to 15,000 in FY23 from 10,000 this fiscal.

TCS has promoted 1.1 lakh people so far this year.

It plans to promote 40,000 more in Q4 FY22.

Infosys is also improving its employee engagement to retain talent.