Indian IT seems to be shrugging off its pandemic blues. Recent announcements by software service majors indicates ha hiring boom for fiscal 2022 as the $150-billion industry races to meet the exponential demand for technology services and offshoring.
While the country’s big four software exporters — Tata Consultancy Services, Infosys, HCL Technologies and Wipro collectively announced plans to hire over 120,000 freshers. Here is a summary of recent announcements:
- Infosys to hire 25,000 from campus in FY22; attrition high at 15% – The company announced plans to hire over 25,000 people from campus this year, even as it reported higher than normal attrition at 15% for the fiscal year. The article in ET quoted CEO Salil Parekh saying “We have tremendous capability and we are making sure that we have huge levels of recruitment from colleges in and outside India and also laterally.” In addition, Infosys announced plans to increase U.S. Hiring Commitment to 25,000 by 2022. The announcement adds its commitment add 12,000 new American jobs in the next two years.
- As attrition rises, Wipro to hit campuses to hire record 30,000 freshers – Business Standard reports that the IT major will be making the offers at campuses in FY22, of which 22,000 will join the company in FY23. The company further said it will be recruiting 30,000 freshers from campuses, of whom 22,000 will join the company in FY23. Wipro officials said this is highest number of jobs the company has offered during campus placements in a single fiscal year.
- TCS to hire 40,000 freshers from campuses in FY22 – TCS, the largest employer in the private sector with a base of more than 500,000 employees, had hired 40,000 graduates from campuses in 2020. It plans to outdo that number this fiscal year, the company’s chief of global human resources Milind Lakkad said while speaking to reporters. “From the campus in India, we hired 40,000 last year. We will continue to hire and hire 40,000 or more this year in India,” Lakkad said, adding that lateral hiring will also be “robust” this season.
- HCL Tech to hire over 20,000 freshers in FY22, roll out salary increments effective July 1 – HCL Technologies will hire 20,000-22,000 freshers in FY22, up 50 percent from what the company hired last fiscal. During the earnings call on July 19, VV Apparao, chief human resources officer, said, “Last year we on-boarded globally 14,600 freshers and this year we are targeting anywhere between 20,000 to 22,000 freshers. I will not be surprised if we even cross that number.”
While the top four service firms plan to hire over 120,000 freshers from Indian campuses, other mid-sized IT firms like Mindtree have also announced ambitions hiring targets. Industry leaders expect the collective hiring by Indian IT to be upwards of 160,000 fresh graduates.