Record-Breaking Fresher Hirings by IT Giants including TCS, Infosys, Wipro, Cognizant
As many IT companies are willing to pay more for highly skilled skills, there seem to be plenty of opportunities for IT freshers. This has led to an increase in the average salary for freshers across all campuses.
TCS, Infosys, and Wipro have recruited more than 2.3 lakh graduates in the fiscal year 2022. This is an unprecedented number. The majors also shared their plans to expand the fresher hiring program for fiscal 2023.
TCS’ chief HR officer Milind Lakkad stated in an earnings call last month, that TCS had hired approximately 77,000 new employees in the first nine months of fiscal and “are planning on hiring more in Q4 (January-March 2022).
Cognizant, which follows Jan to December as a fiscal period, added a record of 33,000 college graduates in India. This is an increase of 17,000 from 2020. ToI quoted Brian Humphries, CEO of Cognizant as saying that “In 2022 we plan to increase approximately 50,000 in India.”
According to CEO Thierry Deporte, Wipro will be hiring 70% more campus talent in FY22 than the previous year.
According to a report from research firm UnearthInsight, the number of freshers who will land jobs in top IT service firms is expected to be between 3,50,000 and 3,60,000 by the end 2022 fiscal year.
“The IT industry growth outlook is intact, despite this pandemic, and this financial year,” Gaurav Vasu founder and CEO of UnearthInsight said.
In addition, attrition is a concern, which will drive fresher hires. Freshmen who go through intensive upskilling have lower dropout rates, according to analysts.
Sriram Rajagopal is the managing partner of talent sourcing firm Diamondpick. He said that engineering graduates will likely have multiple job options if they do their jobs well. He explained that for more complicated jobs they make it harder to screen candidates and pay them more.
Soft skills are becoming as important today as technical skills due to the shifting trends. “Companies are looking for freshers who can think analytically, manage stress, communicate well, have positive attitudes, and are able to handle pressure,” Neeti Sharma, cofounder of Teamlease Edtech, an HR company.
According to Kamal Karanth (co-founder of Xpheno), the best year for hiring freshers was 2010, with approximately 225k. In 2022, that number will almost double,” Kamal Karanth said.
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