IT job seekers can rejoice as there’s a massive opportunity headed their way. The news related to Jobs at Infosys – one of the top IT services companies in India – can never be as exciting as this.
According to the latest media report, the Bengaluru-based IT major Infosys has announced it will hire a whopping 26,000 people in India and overseas for the financial year 2022.
UB Pravin Rao, COO, Infosys, in a statement about the same, mentioned that 92.3% or 24,000 out of 26,000 candidates will be selected from within the country, and the rest will be hired from overseas.
In FY21, ending March 2021, Infosys hired a whopping 21,000 individuals from campuses, wherein 19,000 were from India and the rest overseas. At the end of the year, the Indian IT giant’s total employee account stood at 2,59,619 with a net addition of 17,248 individuals last fiscal.
After making it through the business slowdown that the pandemic-induced 2020 brought, the company rolled out a much-needed wage hike in January 2021. And quite recently, they also announced a second compensation review for their existing employees in July 2021.
But despite these efforts, Infosys is observing a 15 per cent attrition rate, a 5 point increase than 10 per cent as recorded in the previous quarter. Rao said that the company’s current utilisation rate is 86.3 per cent, which is high. Thus the IT giant wants to bring it down immediately.
Infosys’s utilisation rate for the quarter ended March stood at 87.7 per cent, and it continues to remain on the higher side Salil Parekh, CEO, Infosys, said that the primary goal of the company to hire in large numbers both campuses and laterally is to ensure they are able to practice seamless execution.
A recent report released by HAN Digital was able to predict the increase in attrition rate in 2021 rightly. The talent consulting company sourced data from over 100 companies between January-March and reported that a whopping 1 million employees will be resigning within the current year itself!
Nonetheless, Infosys is committed to containing the growing attrition rate by offering several perks such as wage hikes and promotion, hoping it would sway their employees to retain their jobs.
Note here that Infosys is not the only company offering salary hikes. Another recently released report highlighted how 59 per cent of Indian companies are planning to do the same.
And now, when it comes to its peer Tata Consultancy Services aka TCS, the company announced the addition of 40,000 employees in FY21. Furthermore, similar to Infosys, TCS has also declared wage hikes for its employees effective from April 1, 2021.
Thus, all in all, it is well understood that as the after-effects of the pandemic’s first wave are being wiped off slowly, the IT sector is speedily recovering. And that translates into the availability of more employment opportunities for job seekers in the information technology space.
We will keep you updated on all future developments. Until then, stay tuned.