IT firms to resume hiring as technology demand improves – The Economic Times

Clipped from: https://economictimes.indiatimes.com/jobs/it-firms-to-resume-hiring-as-technology-demand-improves/articleshow/78735347.cms

SynopsisIndia’s top four IT services providers – Tata Consultancy Services (TCS), Infosys, Wipro and HCL Technologies have stepped up recruitment in the second quarter, adding more than 17,000 employees including freshers and lateral hires, as they signed more deals.

India’s top four IT services providers – Tata Consultancy Services (TCS), InfosysWipro and HCL Technologies have stepped up recruitment in the second quarter, adding more than 17,000 employees including freshers and lateral hires, as they signed more deals. They reported a net reduction of more than 9,000 employees in the first quarter, which included performance-based exits as well as voluntary attrition.

TCS, India’s largest technology services exporter, said it had hired 9,864 people in the quarter ended September 30. “We started onboarding freshers, and increased our recruitment globally in Q2, in anticipation of the growth trajectory we see ahead,” said Milind Lakkad, Global Head, Human Resources, TCS. The company has hired more than 21,500 employees in the past five years in the United States. TCS said it expects to recruit 10,000 people in the US by 2022, as a result of increased in demand for its services.

“TCS has been among the top two US recruiters of IT services. With technology emerging as central to US enterprises’ ability to respond and recover from the (Covid-19) pandemic, TCS has seen a surge in demand for its services,” it said. The four IT companies, however, cumulatively added nearly double the number in the September quarter last year, with net addition at 31,380 in the quarter.

Bengaluru-headquartered Infosys added only 975 people in the September quarter this year, compared to 7,457 in the corresponding period last year. Increased intake will depend on improved revenue growth in the coming quarters, said Pravin Rao, Chief Operating Officer of Infosys.

“The number of hiring was on the lower side this quarter. Hiring in subsequent quarter, quarter four will obviously be dependent on growth. In terms of freshers in India, this year, we expect to onboard about 16,500 people. And next year, we are planning to add another 15,000 people, mainly freshers in India,” Rao told analysts at an post-earnings conference call. Cross-town rival Wipro, which hired 3,439 employees in the second quarter, indicated that although demand environment and the pace of decision making had improved, it intends to roll out further wage hikes only from the third quarter.

“The increments which we will give would be what we gave last year pre-Covid-19 – 8-10% offshore and 4-5% onsite. Second, we will also take care of the freshers and their increments. All our high performers, we will make sure they are taken care of,” said Saurabh Govil, Chief Human Resources Officer of Wipro responding to an analyst’s question on wage increases. HCL Technologies added 2,798 employees in the quarter. HCL chief executive C Vijayakumar said the company would hire 12,000 freshers in total this year, including those already hired.

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