India’s top four IT firms to hire over 1 lakh employees in FY22 despite raging pandemic
The demand for skills in cloud computing, data analytics, cyber security, DevOps, machine learning etc has also led to higher attritions for the fourth quarter of FY21.
Published: 03rd May 2021 09:22 PM | Last Updated: 03rd May 2021 10:43 PM | A+A A-
BENGALURU: Amidst a deadly pandemic, the IT sector of India is still committed to robust hirings with the top four IT service providers, TCS, Infosys, Wipro and HCL Tech likely to recruit over 1 lakh people in 2021 as markets in Europe, US and Middle-East have started re-opening.
The demand for skills in cloud computing, data analytics, cyber security, DevOps, machine learning etc has also led to higher attritions for the fourth quarter of FY21 as employees considered switching companies for better salary structures/ incentives.
Industry watchers told The New Indian Express that the onsite hiring by India’s tech companies in client geographies will also increase in coming months, especially since the pandemic has led many companies to opt for work from home until December, 2021.
Even for FY21, the net addition of employees increased to more than 73,000 from 49,000 in FY20, as per analysis of their Q4, reports.
U.B. Pravin Rao, Chief Operating Officer, Infosys said that the firm will recruit more than 26,000 people in India and outside, adding that a higher attrition rate of 15% during the fourth quarter will be tackled with dolling out skill based bonuses, promotion cycles and regular promotion cycles.
The Bengaluru headquartered firm’s attrition increased from 10% to 15% on QoQ basis in Q4, FY21.
“The company is continuing its employee engagement levels especially compensation cycles which will be effective July, 2021. During FY21, due to COVID uncertainties and as a part of the cost reduction process, the company had to delay the promotion/pay hike cycles,” he added.
TCS, which saw the highest ever addition of employees during the fourth quarter (19,388) will hire 40,000 people in FY22 chief Human Resources Officer, Milind Lakkad said that all the hiring commitments for the financial year were honoured.
He added that the company will continue to look actively for talent from the market in addition to hiring from the colleges.
For Wipro, which has seen a rejig at the management level following after Thierry Delaporte took over as the company CEO, the focus is on hiring more freshers (nearly 10,000) for the current financial year with skill based bonuses having been announced last month.
Noida-based HCL Tech which was outperformed by Wipro during the fourth quarter in terms of market capitalization said that it is looking to onboard 15,000 freshers this year.