American multi-national Cognizant is gearing up to be on a hiring spree as they plan to hire up to 20,000 newly minted tech graduates, digitally skilled, in India during 2020. This news comes as a positive message after Cognizant went through some massive structural changes in their organisation. They have also announced that the average compensation of campus freshers will be increased to Rs 4,00,000 per annum which is an 18% surge from last year’s campus hiring.
Cognizant is reportedly also expanding its base in India as they have recently opened up a new facility in Mangaluru last week. Ramkumar Ramamoorthy, Chairman and Managing Director of Cognizant India said that the company has been greatly benefited from Mangaluru’s pool of talent as the destination serves as one of India’s most premier educational destinations for professional studies.
As of 2019, Cognizant was second to T.C.S. when it came to campus placements by hiring over 2,00,000 employees from India. A company spokesperson recently said that they will continue to be a net hirer of engineering, science and management students who are digitally skilled and able this year as well.
The Cheif Operating Officer of the American tech giant, Brian Humphries remarked that he’s very impressed with the acceptance rate of offers made to some of the most premier engineering colleges of India, standing at about 80% which further goes to confirm the increased confidence in their company.
This hiring spree of freshers who are digitally skilled is to ensure that Cognizant doesn’t lag behind whilst entering a new digital era of emerging technologies that are predicted to surely go mainstream in the coming years. The core areas in which they are looking forward to strengthening their grounds are – data, digital engineering, cloud, and internet of things (IoT). This strategic decision of Cognizant comes backed by the fact that their digital revenue seems to be increasing 20% year after another.
This news comes right after the fact that they have spent a massive chunk of their time in 2019 handing pink slips to about 10,000-12,000 employees to begin started restructuring and optimising their organisational efficiency and costs to advance the growth.
Trends On Freshers’ Hiring And Salary Trend 2020
Quite recently a report from TeamLease highlights that IT companies in India are gearing up to hire more freshers than mid-level employees. In fact, the increase in freshers salary in 2020 is expected to be more lucrative than those having 7 – 15 years of experience.
Cognizant is most certainly taking a step in the right direction by ensuring that they hire capable freshers who are well-equipped digitally to ensure that they not only survive but thrive whilst the world undergoes massive technological changes and improvements. It is certainly a challenge to keep up with the pace of these changing times and technologies for a global company such as that of Cognizant.
Freshers should most certainly ensure that they are well-informed and knowledgeable in the industry-standard digital skills that are being required by companies such as Cognizant to ensure that they are considered as a valued employee as well as an asset to the company.
Cognizant has also planned to re-skill or upskill their existing employees to ensure they can smoothly transition into supply-constrained areas of the business. They also claimed to have doubled their investment in the Cognizant Academy in 2020 for the same. The employees who refrain from acquiring new skills or are unable to do so are being asked to leave. Therefore upskilling activities are being run parallel to those of cutting jobs to make room for new freshers.