New Delhi: Tata Consultancy Services (TCS) and Infosys are facing high attrition rates, hinting at supply-side challenges, as IT firms are competing among themselves for a limited talent pool. In the current financial year, TCS is planning to recruit 40,000 employees, while IT major Infosys is looking to hire upwards of 50,000. In the March 2022 quarter, Infosys’ attrition rate rose to 27.7% from 25.5 per cent in the previous quarter. However, Nilanjan Roy, chief financial officer at Infosys, opined that Attrition for the quarter has come down by close to 5% both in percentage and absolute headcount. Echoing similar remarks, second IT largest Infosys management also asserted that the attrition rate was down in the last quarter. “Good news is we have seen stability and of course the intervention we are looking at like the April 1 hike plan, we should continue to see some improvement in them,” said Nilanjan Roy, chief financial officer at Infosys.Also Read – Work-From-Anywhere: This Company to Now Let Employees Work, Live in 170 Countries. Details Here
In terms of hiring freshers by the IT giants, the companies (Infosys and TCS) in total made 61,000 campus hires in FY21, CNN-News 18 reported. In FY22, TCS and Infosys hired 100,000 and 85,000 freshers, respectively. In FY 2023, Infosys has planned to hire more than 50,000 freshers. Earlier this month, while announcing the company’s result, Nilanjan Roy, chief financial officer at Infosys said,”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 it just initial figures.” Also Read – Should Kids be Sent to School Amid Rising Cases of COVID in Delhi-NCR? Doctors Speak
Similarly, Tata Consultancy Services (TCS) has stated that its hiring momentum will be similar to the last fiscal. TCS Chief Operating Officer NG Subramaniam has said that the company has set a hiring target of 40,000 and will expedite it (if needed) during the year. Also Read – 4th Wave Of Covid-19 Unlikely To Impact Economic Growth Of India In Near-Term : Report
Work From Home to Continue
Tata Consultancy Services (TCS) remains committed to adopting the ’25X25′ model and introducing hot desks. The 25X25 model aims to bring people back to the office and gradually transition into the hybrid work model. Under the model, by 2025, no more than 25 per cent of the company’s employees will need to work from the office at any given point, and an employee will not need to spend more than 25 per cent of their time in the office.
HCL reportedly said that it will continue to operate in hybrid mode as employees’ safety and well-being are the company’s top priorities. “One of our top priorities is the safety and well-being of our employees and their families. We also remain deeply committed to maintaining our business normalcy, thereby ensuring uninterrupted services to our clients. Currently, we are monitoring the situation and continue to operate in a hybrid model”, a portal quoted the IT major as saying.
Similarly, IT major Infosys has also planned to return office in a ‘phased manner’. News 18 reported that the company is planning to adopt hybrid mode of working in long term.
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