CIOInsider India Magazine
Hiring in India's Tech Companies to Soar High this Year
There still remains an unimaginable amount of unemployed individuals across India awaiting employment. However, that waiting line is soon about to get shorter or better yet it’s believed to vanish. Undoubtedly, the coronavirus continues to be an obstacle against employment opportunities in the country with a lot of companies fearing its spread.
However, tech-companies and non-tech companies, have been breaking sweat towards not only creating a comfortable and safe working environment for their working companions, but have scaled their business or organizations as well. Since a lot of them have been adopting technologies and technological products and solutions that levelled up their game, but now those companies are in need of many hands to steer or get that ship sailing.
These accounts to how technological evolution, including massive automation, is transforming the very nature of conventional technological jobs, thereby opening newer job opportunities.
In fact it falls true to the country’s IT industry, as Nasscom (National Association of Software and Services Company), implies that “more than 250,000 people are being upskilled in digital skills, and more than 40,000 new digitally trained talent are being hired, demonstrating the industry's dedication and investment in rapidly improving workforce capabilities”.
As lockdowns mellow down, many inborn IT firms are on a hunt for digital talent. Major names in the IT industry such as TCS, Infosys, Wipro, and HCL Technologies have set the recruiting mark at 91,000 for this year, which is said to be little less than that of last year.
The rise of recruitment among tech companies is mainly due to India’s crippling economy which still suffers from the hit of the pandemic, as it has been a grim reaper to many and this has subsequently led to loss in businesses.
TCS (Tata Consultancy Services) Plans for Over 40,000 Campus Recruitments
The IT behemoth which boasts over 500,000 employees has plans of hiring more people in FY22 compared to its last fiscal year. Even during the pandemic's restriction on travelling, it’s said that the company has been increasing its local employees in major markets over the last five years. Its business was unaffected nonetheless.
The company seems confident over its structure growth, and this mostly entails to its services business that’s closely interwoven with people will boost the growth into adjacent areas such as products.
Fortunately, non-tech companies like fertiliser manufacturers and pharmaceutical companies, that wish to make their operations more digital, account for a large portion of the demand for IT products and services
Likewise, it’s also said to double the number of trainees employed from American universities last year.
Then there’s Infosys, the second largest IT conglomerate in the country, plans to hire 24,000 freshers in the coming fiscal year, which is a stunning 60 percent more than this year's campus hirings of 15,000 people. Due to major acquisitions and demand for digital, the management expects the company to grow by double digits next year. In FY22, the management expects double-digit growth as a result of significant acquisitions and high demand digital.
Wipro, on the other hand, is eager to witness a talent war erupt this year in the country’s IT industry, given how companies have been hiring a lot of individuals for the last two quarters. According to the company's CEO Thierry Delaporte, the company will onboard 33 percent more freshers in FY22. The company has stated that it plans to onboard over 6,000 freshers in the July-September quarter, which will be the most it has ever done.
This year, HCL Technologies expects to hire 20,000-22,000 freshers. The company is claimed to have hired 6,000 new employees in the first quarter alone. According to the corporation, these new hires would mostly be situated in India.
HCL added 7,522 new employees, with 11.8 percent attrition in IT services.
Companies like Capgemini and Genpact are allegedly looking to hire more people. Capgemini's CEO, Ashwin Yardi, stated earlier this year that the business plans to hire 30,000 workers in India by 2021, with a 50:50 mix of lateral hires and fresh graduates.
IT Sector Improved More Over the Pandemic
To stay afloat and solve economic obstacles, Indian companies have relied extensively on digitization. According to research from Naukri, hiring activity in the industry increased by 52 percent last month compared to June 2019. (before the pandemic broke out in India). Last month, the industry reported a five percent increase from May 2021. Notably, the Covid-19 pandemics had little effect on hiring activities in the business.
Last year, the industry faced certain challenges as a result of nationwide lockdowns. However, the sector's comeback has been swift, with hiring up 163 percent in the last year. Many IT companies in cities like Bangalore, Pune, and Hyderabad have seen a double-digit increase in hiring activity, indicating a widespread resurgence of job opportunities in the sector. With a constant demand for experienced individuals, the IT sector continues to see an increase in employment activity.
Pandemic Sparks Rise to Recruitment and Salary Hike?
Despite the fact that many employees in the tech industry fell ill, a lot of them have returned to work over the unlocking of lockdowns, and their employers are moving forward with their expansion plans. Due to the extreme increased demand for tech talent, salaries have risen by as much as 50 percent in certain cases, and employers are scrambling to make counter offers to keep their employees.
The rise of recruitment among tech companies is mainly due to India’s crippling economy which still suffers from the hit of the pandemic, as it has been a grim reaper to many and this has subsequently led to loss in businesses.
MSMEs to Bounce Back in Hiring
Although businesses appear to suffer lesser consumer spending, economic slowdown and uncertainty sprung from the pandemic’s reign, India’s e-commerce market is projected to grow $ 200 billion by 2026 according to IBEF (India Brand Equity Foundation) website.
This however, led to a lot of e-commerce firms not only adopting technological products and solutions, but also led to hiring and training individuals to operate those technologies.
It surely gave a chance at life to the many surviving MSMEs (Micro, Small and Medium Enterprises) to go digital to best cope with the pandemic. IBEF enlightens that the growth in employment will increase revenues from export, increase tax collection by ex-chequers, and provide better products and services to customers in the long-term. Rise in smartphone usage is expected to rise 84% to reach 859 million by 2022.
