Posted by - Tata Consultancy Services (TCS), HCL Technologies, and other Indian IT behemoths plan to onboard more freshers than lateral hires over the next six months.
- With attrition rates at an all-time low, there is less need to replace the loss of workforce, explained HCL Technologies’ CHRO VV Apparao.
- TCS is looking beyond India’s border and plans to hire another 10,000 employees in the US amid H-1B visa ban issues.
Freshers have a better shot at getting hired at one of the big-wig Indian IT companies in the second half of the year than those looking for a job change. The churn of employees at Indian IT companies is settling down as the likes of Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro, and Tech Mahindra are witnessing some of the lowest attrition rates that they’ve seen in a while.
“A large amount of lateral hiring happens because of attrition replacement. If I’m losing 20 people, I have to hire 20 people. To that extent, lateral hiring will come down,” HCL Tech CHRO Apparao VV told Business Insider. The company’s attrition rate was 12.2% this quarter — the lowest it has been in at least the last two years.
Indian IT companies are on the hunt for freshers
HCL Tech plans to onboard another 9,000 freshers before March 31, bringing the total of new hires to 12,000 in the current fiscal year. But, it is yet to make up its mind about the coming year.
We have not yet finalised. We’re doing a bottom-up exercise where we ask each of the businesses, what is the growth they see. Part of it will be based on form booking and a part of it will be based on anticipation — past number. But it won’t be less than 10,000,” said Apparao.
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