The demand for digital skills and talent shot up amid the pandemic. On the back of strong performance, IT companies like TCS and Infosys are planning to hire close to 90,000 people in this current financial year. While TCS is planning to hire 40,000 employees, Infosys is looking to hire upwards of 50,000.
As for attrition rate, Infosys' rose to 27.7 percent in the March 2022 quarter, up from 25.5 percent in the December 2021 quarter, whereas, TCS' attrition was at 17.4 percent for the fourth quarter of 2021-22, compared with 7.3 percent in the related quarter a year ago.
Both TCS and Infosys have maintained that though the numbers are high based on the last twelve-month (LTM) basis, they are gradually coming down.
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Infosys has, on the other hand, also said that it is looking to provide 50,000 more jobs in the financial year 2022-23. Infosys Chief Financial Officer Nilanjan Roy was quoted as saying, "In the last year, we have hired 85,000 freshers across India and globally. We are planning to hire upwards of at least 50,000 (this year) and will see how this plays out but that is just initial figures."
Meanwhile, TCS Chief Operating Officer N G Subramaniam has also said that the company has started this year with a target of hiring 40,000 candidates and will step that up as the year progresses.
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IT companies and work from home
The work from home (WFH) model has been successful, so far, for the IT sector and the companies are now looking forward to execute the hybrid work model.
TCS also said the company remains committed to adopting its futuristic and path-breaking 25X25 model. Infosys is also planning a 'phased return to office', motivating its employees to just attend office in person for a day or two per week. In the long term, Infosys too is adapting the hybrid model of working.
