IT Hiring in India: Indian IT companies are on a spree to declare the reports of their earnings during the quarter ended March 31, 2022. IT giant TCS and software major Infosys have already declared their Q4 earnings where the company reported profits of Rs 9,926 crore and Rs 5,686 crore respectively. Both the companies, while declaring their Q4 earnings, have also shared insights on their hiring numbers and have also given estimates on how many employees they are going to hire in the current financial year.
India’s largest IT services company, Tata Consultancy Services or TCS, said while declaring its results that the organisation had recruited 35,209 employees on a net basis in the quarter ended March 31 this year, the highest ever net addition in a quarter. Employee headcount stood at 592,195, a net addition of 103,546 during the year, another all-time high. The company added one lakh freshers from campuses in FY22 against the stated target of 40,000. TCS further informed that it has set a similar target of 40,000 for FY23 as well. The company’s chief operating officer N G Subramaniam, addressing a press conference after the results said it will take a call dynamically on overshooting the number as per the business environment.
During the press conference, TCS CEO and MD Rajesh Gopinathan told reporters the the IT giant has asked its senior associates to come back to their deputed locations. Initially, only these senior associates will start going to office for three days in a week beginning in April. “We are starting with our senior associates, the top 50,000 employees, who will start coming to the office, starting three days a week from this month itself. And then we will continuously increase the coverage of associates who will start coming back. So, sometime during the middle of the year, we should be somewhere in the well on the way to the 80:20,” Gopinathan said.
Software major Infosys, during a press conference after declaring its Q4 earnings on Thursday, informed reporters that it had hired hired 85,000 freshes — both off campus and on campus — in the financial year ended March 31, 2022 amid a rise in attrition rates. The company hired as many as 54,396 employees for the year. Infosys hiring is expected to continue at a similar pace with the company aiming to hire over 50,000 freshers this year.
“In the last year, we have hired 85,000 freshers across India and globally. We are planning to hire upwards of at least 50,000 (this year) and will see how this plays out but that it just initial figures,” Infosys’ chief financial officer Nilanjan Roy told journalists at a press conference after declaring the results of the fourth quarter.
The IT major said that it had furthered its fresher hiring programme to 85,000 for the year from the 55,000 it had shared earlier in order to meet strong demand of its services. This comes at a time when attrition has spiked for Infosys, amid a surprising new war for tech talent in the country. The attrition stood at 27.7 per cent, Infosys CEO Salil Parekh said.