The top four Indian IT firms \u2013 TCS, Infosys, HCL and Wipro \u2013 plan to hire more than 1 lakh freshers this fiscal. Cognizant said in July it planned to hire 30,000 freshers, as well as 100,000 laterals this year. The latter translates to onboarding nearly 300 experienced professionals every day.<\/p>\n
\u201cIntent to hire and able to hire are two different things. To onboard about 400 laterals a day, you need to make offers to about 700 people a day, as most IT services enterprises have a drop out ratio of more than 40%,\u201d said Kamal Karanth, co-founder of specialist staffing firm Xpheno.<\/p>\n
IT companies have robust hiring processes and large talent acquisition teams. \u201cBut even with that capability, this is a challenging year to hire laterals for sure. If the mix is 75:25 between freshers and laterals, then it’s feasible,\u201d Karanth said.<\/p>\n
Offer acceptance rates have fallen dramatically, especially for skills with severe shortages. Xpheno data shows the offer acceptance rate at IT services companies for roles like full-stack engineer, data engineer, data scientist, DevOps engineers has dropped to about 45%, from over 80%.<\/p>\n
Saravanan Balasundaram, CEO of talent consultancy firm Han Digital, said onboarding as a proportion of total offers has dropped to less than 50% for IT services firms as employees are sitting on multiple offers. He said companies are taking exceptional approvals to make higher salary offers quickly so that candidates get less time to shop for other offers. \u201cSome IT firms are willing to offer bonuses for early joining and are locking-in candidates at mid-level roles,\u201d he added.<\/p>\n
Sriram Rajagopal, managing partner of talent solutions firm Diamondpick, said there has been an increase of 100% in salaries for critical roles in cloud, cloud native, mean stack developers (JavaScript-based framework for developing web applications). \u201cAmong our recent recruits, about 100 didn’t accept the offer and when we ran a survey, data showed that these specialized roles got a 94% increase in salaries from their current compensation. There are outliers who could get more,\u201d he said.<\/p>\n
Rajagopal said those with Salesforce, S4 Hana and Snowflake certifications command very good premiums. Even good Java developers with in-demand microservices skillsets are in great demand. \u201cWe have seen Java developers with five years\u2019 experience move from Rs 7.5 lakh to nearly Rs 14 lakh,\u201d he said.<\/p>\n
All of this will make it extremely challenging for IT services companies to hire. But Siva Prasad Nanduri, VP and business head of IT staffing at TeamLease Digital, said firms should be able to do it through a combination of campus and off-campus hiring, including recruiting people with even one year experience on a hire-and-deploy model. \u201cCompanies are partnering with multiple boutique training organisations, and are even considering contractual workforces,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
The top four Indian IT firms \u2013 TCS, Infosys, HCL and Wipro \u2013 plan to hire more than 1 lakh freshers this fiscal. Cognizant said in July it planned to hire 30,000 freshers, as well as 100,000 laterals this year. The latter translates to onboarding nearly 300 experienced professionals every day. \u201cIntent to hire and able to hire are two different things. To onboard about 400 laterals a day, you need to make offers to about 700 people a day, as most IT services enterprises have a drop out ratio of more than 40%,\u201d said Kamal Karanth, co-founder of specialist […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-798969","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=798969"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798969\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=798969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=798969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=798969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}