Top Indian IT companies hire at a record; added 4.3 percent to the employee base.

The Indian IT sector has seen a record hiring this quarter done by top Indian IT companies while meeting the surge in demand for digital skills, rising attrition rate, and lowering reliance on laterals and subcontractors. 

To sustain the war for talent, the top Indian IT companies believed that hiring laterals could affect company margins, leading to increased hiring of new graduates and freshers. 

Top Indian IT companies hiring. 

Indian IT major Infosys announced the hiring of 35000 freshers in the financial year 2022, which is 10000 higher than the previous target of 25000. In addition, TCS also hired at record numbers for the second straight quarter. 

The five top Indian IT companies, together, added 4.3 percent to their employee base. However, the rising attrition was the main factor driving record hiring in the IT sector. 

Recently, TCS management stated that the company had seen attrition levels of 11 to 12 percent in the past, even in high-demand scenarios. 

Infosys said it is taking several measures to control the attrition rate, such as increased compensation, including specific bonuses for digital skills and employee engagement, emphasizing the career path.

Tech Mahindra, who has recorded the highest attrition of 17 percent in June, told a media agency that the company would offer their employees a second pay hike this year as per the requirement of market conditions.

Top Indian IT companies attrition for June quarter FY22

  • Tata Consultancy Services posted attrition of 8.6 percent in the first quarter of FY22.
  • Infosys saw attrition of 13.9 percent in the quarter. 
  • Wipro saw a rise in attrition at 15.5 percent.
  • HCL Technologies’ attrition rate is at 11.8 percent in the first quarter of FY 2022.
  • Tech Mahindra recorded attrition at 17 percent. 

Due to the accelerated spending on digitalization, cloud adoption, and business transformation, the IT sector expects this IT hiring boom to continue.