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TCS (Tata Consultancy Services), Infosys, Wipro and HCL, India’s top IT companies, have recruited over a lakh in the first six months of the current financial year. This is an increase by more than 13 times as compared to the corresponding period of the previous year, after the pandemic had struck, according to a report in The Times of India. It is nearly twice to that of corresponding period of the pre-pandemic year of 2019-20. This is a clear indication of the demand pick up in the IT sector.
Around the world, companies are digitalising their operations with the pandemic highlighting its importance for sustainability. Due to their ability to scale IT operations up and down very quickly, there has been a huge shift to cloud. As a result, new opportunities are opening up in analytics, Artificial Intelligence (AI), and Internet of Things (IoT).
For cyber criminals, digital has proved to be a perfect hunting ground and that has led to a massive demand for cyber security.
High attrition led to an increase in hiring
With 5.2 lakh employees, TCS had led the hiring momentum. The company said that it plans to make offers to 75,000 freshers this year, which is a record for the company. The last time, the IT giant saw this kind of hiring was back in 2011-12, coming out of the financial crisis, it said.
Infosys had increased its fresher hiring target for this year from 35,000 (planned target three months ago) to 45,000. It had also raised its revenue guidance for the second time in the year, last week, which is an indication of how the demand is picking up at an increasing pace.
Some of the hiring in companies, comes on the back of high attrition rates. Infosys attrition rates jumped from 13.9% to 20.1%.
HCL technologies had the highest net hiring numbers in the last quarter at 11,153. Overall, the company has almost touched the 32,000 mark in the last three quarters.