New Delhi: Good news for freshers seeking jobs opportunities. The top 4 Indian IT companies, namely, TCS, Infosys, Wipro, and HCL Tech, are going to double their hiring target in 2021-22 to 1.6 lakh freshers. Significantly, this is happening due to rapid digital transformation, increased supply, and rising attrition rates during the Covid-19 pandemic.
Top 4 IT companies hired 82,000 freshers in the fiscal year 2021 and employed 53,964 employees in the quarter ended September 2021, up from 17,076 recruitments in this period last year.
There are many reasons for recruitments happening on a large scale. The digital transformation around the world has flourished because of the Covid-19 pandemic. Technology is no longer just about driving cost-efficiency, but also about driving business.
For instance, aviation and hospitality are the two sectors that bore the worst brunt of the pandemic. Since restrictions have now been lifted, investments are expected to increase in these sectors as well. Today, enterprises in every sector are focusing on digital means.
Attrition Rate
The attrition rate in TCS has increased from 8.6% to 11.9% in the first quarter. Wipro and Infosys reported over 20% attrition and HCL Tech 15.7%. The attrition rate for these three IT companies stood at 10-15% for the previous quarter.
Top IT Companies Raise Hiring Target
TCS plans to sign up 78,000 freshers this year, instead of 40,000, it had planned initially. It has already taken on-board 43,000 freshers. Wipro and Infosys have revised their hiring targets for FY22 to 17,000 and 45,000 respectively. HCL Tech plans to hire 22,000 freshers and made a record addition of 11,135 employees in the second quarter.
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