GOOD NEWS! 3 TOP INDIAN IT COMPANIES PLAN TO HIRE FRESHERS THAN LATERALS - REPORT 

As 2020 entered, people lost their jobs due to pandemic and also faced severe economic crisis. Amid all the job loss and salary cut, freshers will have a better shot of getting hired at top three big-wig Indian IT companies in the second half of the year. 

The top IT companies who are offering the best options for freshers are Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro and Tech Mahindra. They are currently witnessing some of the lowest attrition rates the company has ever seen.

“A large amount of lateral hiring happens because of attrition replacement. If I’m losing 20 people, I have to hire 20 people. To that extent, lateral hiring will come,” HCL Tech CHRO Apparao VV told Business Insider.

Looking into details, the company’s attrition rate was 12.2 percent this quarter, while the lowest has been in at least the last two years.

Highlighting about the Indian IT companies, who are on the hunt for freshers:

- HCL Tech is all set to onboard another 9,000 freshers before March 31, which will bring the total of new hires to 12,000 in the current fiscal year.  “We have not yet finalised. We’re doing a bottom-up exercise where we ask each of the businesses, what is the growth they see. Part of it will be based on form booking and a part of it will be based on anticipation — past number. But it won’t be less than 10,000,” said HCL Tech CHRO Apparao. 

- Infosys: Earlier this year, Infosys has already onboarded close to 16,000 freshers and is also currently planning on recruiting another 15,000 for the next year.

- Meanwhile, with an attrition at an all-time low of 8.9 percent, even TCS too has been focused on onboarding freshers in July. “We started onboarding freshers and increased our recruitment globally in Q2 in anticipation of the growth trajectory,” said TCS CHRO, Milind Lakkad, during the second -quarter earnings call as per Business Insider. 

With this hiring process, the company is also looking to onboard 10,000 employees over the next year in the US amid H-1B visa regulations. So far, TCS has hired around 21,500 employees in the country in its efforts to localise in the US.

- Wipro also has ‘robust’ hiring plans for the second half of the current fiscal. “Very robust hiring this quarter, both laterally and campuses. We continue to see the same momentum going forward,” said the company’s CHRO Saurabh Govil during the second-quarter earnings call.

He further added that given the company’s current growth momentum, hiring laterally and via campuses is an important decision of managing that growth. 

Amid this pandemic, India’s IT sector is among the first to recover from the economic impact, after which hiring freshers, rather than laterally, allows companies to pick up talent that’s relatively cheaper.