Top four IT firms raise fresher hiring target for FY22 amid record attrition levels
The top four IT services companies are planning to hire more number of fresh engineering graduates this fiscal year than planned earlier.
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Bengaluru, 16 October The top four IT services companies are planning to hire more number of fresh engineering graduates this fiscal year than planned earlier.
Tata Consultancy Services (TCS), Infosys, HCL Technologies, & Wipro are likely to add around 160,000 graduates from campuses this fiscal year. This is more than the earlier projection of around 120,000 for FY22.
Market leader TCS said during the second quarter results announcement that it was increasing its projections for fresher hiring for FY22 to 78,000 from 43,000 earlier.
Similarly, Infosys plans to take on 45,000 freshers, up from the 35,000 projected, to meet rising demand. Wipro will take on 17,000 freshers, up from 12,000, as attrition for both the companies touched 20 per cent.
Pravin Rao, Chief Operating Officer of Infosys said during the analyst call said, "Even my over three decades of work, we have not seen such a scale of war of talent, which is making every company rush to campuses to hire more freshers."
He also said that the attrition levels is the highest in its junior level where the potential of people moving is the highest. The company also acknowledged that the numbers are going up despite salary hikes and promotions.
"We brought on board a record number of 43,000 fresh graduates in the last six months...investing ahead of time in building our own pipeline of talent has helped us overcome supply-side challenges and meet the execution timelines of our customers' growth and transformation programs," said Milind Lakkad, chief HR officer of TCS.
