Posted on 19th April 2021 by Web Admin

Synopsis The Top 5 IT firms in India, including Tata Consultancy Services (TCS), Infosys, Wipro, HCL Technologies and Tech Mahindra, will hire over a lakh people this year to execute projects for clients looking at digital transformations.

IT services providers led by Tata Consultancy Services (TCS NSE -0.41 %), Infosys NSE 1.63 % and Wipro NSE 1.04 % are hiring in significant numbers to meet the growing demand for talent that can execute projects offshore for clients looking to digitally transform their businesses.

TCS plans to hire over 40,000 people from campuses this year, while Infosys is likely to recruit nearly 25,000 people from campuses. Wipro, which has not provided a hiring plan, said it will onboard more people than last year.

“…growth itself has picked up and on top of it, most of the growth volumes are happening in India, and consequently, there is tremendous demand for talent,” Infosys’ chief operating officer Pravin Rao told analysts last week.

Analysts tracking the sector say the top five companies including TCS, Wipro, Infosys, HCL Technologies (NSE 0.91 %) and Tech Mahindra (NSE -0.46 %) will hire more than 110,000 people this year, from a net addition of more than 90,000 jobs last year.

Both the Bengaluru-based companies confirmed that there would be a further increase in attrition and that they were undertaking measures to retain talent. “The attrition is likely to remain at this level for the next one or two quarters,” Rao of Infosys said. The near 15% attrition rate is at the high end of the company’s average and is higher than the previous quarter. “With compensation intervention, promotions and other initiatives we are confident of sustaining it at this level... This year (FY21) we added 21,000 employees from campuses globally and we plan to add 25,000 from campuses this year,” Rao said.

Source: Economic Times