Indian IT Firms Will Hire Record 3.6 Lakh Freshers In Next 12 Months; But 24% Employees Will Resign!
Indian IT companies will hire 3.6 lakh freshers during the current financial year.
A TeamLease survey reports that more than 47% of companies intend to hire freshers in the current half year.
Attrition Set To Improve From 2023
This comes on the back of an uptrend in attrition with 22.3% in the third quarter, up from 19.5% in the second quarter.
Things could improve from the financial year 2023 onwards and the attrition could reduce to 16-18%.
Despite the nationwide pandemic wave recently, the growth outlook of the IT industry remains intact.
Record Growth Year
This financial year it is likely to achieve its best ever revenue growth and will continue to add workforce as per the estimates.
The industry revenue will grow 19-21% in the current fiscal which will be the highest ever for the sector.
They will ride this momentum into the next financial year and FY 2024.
Cloud and product and platform businesses have been seeing excellent growth whereas penetration of low-code and no-code platforms is gaining significant momentum.
Top domains for hiring remains:
- Data analytics
- Investment banking
- Content writing
Top Roles For Freshers
- Digital marketing
- AI engineer
- Technical writer
- Full stack developer
- Supply chain analyst
Cities Favored By Freshers
As per the report, Bengaluru is the most favored city by freshers with 59% of companies keen on ramping up hiring.
Mumbai with 43% and Delhi with 39% are the next top cities for freshers
Cities like Pune, Gurgaon, Chandigarh, Nagpur, Indore and Coimbatore saw a dip in intent to hire freshers this period.