TCS, Infosys, Wipro, HCL Tech to hire over 1.1 lakh freshers this year
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Top Indian IT firms have stepped up fresher hiring for FY22 by an average 30 percent to a combined 1.1 lakh on the back of growing demand as businesses goes digital and increased attrition.
Infosys plans to hire 35,000 freshers, Wipro more than 12,000, HCL Tech 20,000-22,000 and TCS will hire 40,000 people from campuses this fiscal to meet demand and attrition soar
Infosys has said it will hire 35,000 freshers this year, up from 21,000 in FY21. Wipro will add over 12,000 campus hires this fiscal, 33 percent more than it did the previous year. HCL Tech is looking at a figure of 20,000-22,000, up 50 percent from 14,600 in FY21. TCS will offer jobs to 40,000 pass-outs, similar to what it hired in FY21.
The top four IT firms added 48,443 employees in the June quarter and are looking to add more in the coming quarters as well. The demand is growing following robust deal wins as enterprises move to digital and invest more in cloud and cybersecurity.
Robust demand, attrition
The June quarter was about big deals. TCS signed $8.1 billion worth of deals in the first quarter of FY22, Infosys $2.6 billion and Wipro $715 million. HCL Tech's new deal wins stood at $1.67 billion.
Wipro's attrition increased to 15.5 percent in Q1 FY22 from 12 percent in the previous quarter. For Infosys, it stood at 13.9 percent, up from 10.9 percent in the March quarter. HCL Tech's was up from 9.9 percent to 11.8 percent. While TCS' attrition continues to be at the lowest at 8.6 percent, the management has shared that the firm expects the number to go up.
This is where the challenge lies. Demand is far outstripping supply and companies are looking to bridge the gap by hiring more freshers.
