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Indian IT giants Infosys, TCS, HCL Tech, and Wipro have announced plans to hire over 70,000 freshers in the upcoming fiscal year. Infosys, the second-largest software services exporter, plans to hire over 20,000 freshers, citing strong hiring momentum and a stable attrition rate of 13.7%. TCS, with the largest workforce of 612,724 employees, aims to add 40,000 new employees in the current fiscal year, maintaining a diverse and low-attrition workforce.
HCL Tech added 2,134 employees in the third quarter, bringing its total headcount to 220,755. Wipro, on the other hand, plans to hire around 10,000 freshers in the current fiscal year, with a focus on reducing attrition and increasing hiring in the next fiscal year.
The hiring surge is driven by the growing demand for IT services, with the Indian IT sector witnessing a significant increase in hiring. The companies are exploring innovative ways to attract and retain talent, including campus hiring, lateral hiring, and strategic partnerships.
Infosys CEO Salil Parekh noted that the company’s headcount has grown sequentially by approximately 5,600, making it the second consecutive quarter of headcount addition. The company’s attrition rate remains stable at 13.7%, which is one of the lower rates in the industry.
TCS CHRO Milind Lakkad highlighted that the company’s strong talent base and increased learning intensity prepares it well for complex technology transformations, and it expects to add 40,000 new employees during the current fiscal year.
Wipro CEO Srini Pallia stated that the company plans to hire around 10,000 freshers in the current fiscal and will look at their supply chain in terms of utilization demand, attrition, and hiring. He also noted that the company expects attrition to come down in the coming quarters.
Overall, the Indian IT sector is witnessing a significant surge in hiring, driven by the growing demand for IT services. The major players in the sector are exploring innovative ways to attract and retain talent, and it remains to be seen how the trend will unfold in the coming quarters.