Indian software services firms have made ambitious hiring plans for 2021-22 on the back of a healthy deal pipeline and rising demand for digital transformation and cloud technology as the world recovers from the Covid-19 pandemic.
The top four firms – Tata Consultancy Services, Infosys, HCL Technologies and Wipro – collectively plan to recruit 91,000 employees from campuses this year, Times of India reports. Tata Consultancy Services will be hiring around 40,000 freshers, almost the same as last year, and Infosys plans to recruit 24,000, up from the 15,000 it had planned earlier.
During the October-December quarter, the four firms inducted 36,000 employees, up from 10,820 in the same quarter last year. This is also around double the employees hired during the preceding July-September quarter (17,918). Tata Consultancy Services hired a record 15,721 people in the December quarter.
The recent bagging of big-ticket deals by software firms has boosted their hiring appetite. Infosys won its largest-ever deal from German auto major Daimler and its total deal value during the December quarter was US$ 7.13 billion. The company management expects to register a double-digit growth next year owing to these deals.
Tata Consultancy Services bagged a large deal from Prudential Financial and its total contract value for the December quarter was $6.8 billion. Wipro closed a $700-million deal with German retail firm Metro AG in the same quarter.
With more clients migrating toward cloud and stepping up investments in digital technology, there is a big demand for jobs in these two domains. Indian firms are finding it difficult to fulfill it internally and are trying to fill the shortfall through campus as well as lateral hiring.
Job market uncertainty caused by the economic slowdown had forced many employees to stay in their current jobs, driving down the overall attrition rate in most companies. But with the economy opening up, companies are expecting a rise in attrition levels and hence increased hiring.