Indian IT pioneer, Infosys is bullish about its hiring plan. The company has decided to onboard 20,000 freshers in FY21 as the Covid-19 freeze lifts.
The second-largest IT firm in the country has already hired more than 4,000 lateral hires and 18,000 freshers in the quarter that ended in April 2020. According to UB Pravin Rao, the company is in a process of coming out the Covid hiring freeze. Infosys had temporarily suspended lateral hiring in April citing Covid-19 pandemic.
After announcing June quarter results, Rao said, “In terms of lateral hiring, in April there was a general freeze. However, we will continue to look for talent in niche areas. In Q1, there was 4,000 plus lateral hiring. The trend will continue going forward and based on the needs we will look at it.”
Even the rival IT service firms including TCS and Wipro have also opened up hiring. Wipro has on-boarded over 7,000 lateral hires for the quarter that ended in June.
Infosys had also suspended hikes and promotions in March quarter. It has increased the variable pay for employees as a reward. The company is focusing on reskilling existing workforce on new-age technologies to meet the growing demand for services like digital transformation, cloud computing etc.
The company has also achieved a lower attrition rate. The voluntary attrition rate has come down to 11.7% from 15.3% in the March quarter. The total headcount is down by 3138 employees in this quarter.
Infosys has decided to continue the work from home model for employees. It has found out that remote working is more productive than work from office. Even other IT service firms have decided to adopt WFH as the new normal. source