Indian Workforce Gets Software Update! IT Big 4s So Far Increase Staffing By 1 Lakh In FY 22
Indian Workforce Gets Software Update! IT Big 4s Increase Staff By 1 Lakh So Far | Photo credit: Thinkstock
- TCS, Infosys, Wipro, HCL hired over 1 lakh of new employees in the first 6 months of FY22
- All companies revised their hiring projections for FY22 upward due to strong software demand and high attrition
- TCS, Infosys, Wipro and HCL Technologies together employ more than 25% of India’s 4.6 million technicians.
India’s four largest IT services companies, TCS, Infosys, Wipro and HCL Technologies, collectively hired more than 1 lakh of people in the first six months of fiscal year 2021-22 (FY22). This is double the number of new employees these companies onboarded in pre-pandemic 2019-20 (FY20) and 13 times in 2020-21 (FY21), according to a TOI report.
The Big Four in India’s IT industry increased their workforce by 102,234, compared to 53,780 net worker additions in FY20 and 7,932 in FY21.
The new hiring activity is an indication of the skyrocketing demand for IT services with an increased focus on digital transformation. In addition, the increased demand for talent has led to more attrition of companies to hire more than before.
TCS, which has 5.2 lakh of employees worldwide, led the hiring momentum with 40,029 new employees in the first half of the year. The company’s attrition rate fell from 8.6% in the first quarter to 11.6% in the quarter ended September 30.
Infosys has hired 19,998 new workers so far in FY22, compared to 8,142 in FY20. The company reduced its workforce by 2,163 in FY21, affected by the pandemic.
Shiv Nadar’s HCL Technologies hired an additional 18,657 professionals in FY22, compared to 9,158 in FY20 and 2,662 in FY21.
In the first 6 months of FY22, Wipro added 23,650 new members to its overall membership, compared to 10,027 in FY20 and 2,357 in FY21.
The biggest of the lot in terms of revenue and market capitalization, TCS, plans to hire an additional 75,000 people in the coming year, a new record for the company led by Rajesh Gopinathan, who is the crown jewel of the crown of the Tata group. In an interview with TOI, Gopinathan recalled that this was the last time in 2011-12 that the company was so bullish on hiring activity.
In its results released last week, Infosys raised its revenue forecast for the second time this fiscal year. It increased its hiring projections for the entire year from 35,000 to 45,000 in fiscal year 22.
“The type of demand we’re seeing is unusually high. The last time we saw this type of request was around 2010, ”said UB Pravin Rao, COO, Infosys.
Wipro, which hired 11,745 employees in the quarter, of whom 8,000 were freshers, aims to hire 16,000-17,000 freshers in the current fiscal year. It aims to hire 25,000 to 30,000 freshers next year, according to general manager Thierry Delaporte.
The Big Four plan to hire more than 160,000 new employees in the coming year, according to new estimates. These 4 companies together employ more than 25% of India’s 4.6 million technicians.