Infosys, TCS to go on hiring spree
With improving business sentiment and revival in IT spends, hiring seems to be back in full swing at software firms like Infosys and TCS.
New Delhi: With improving business sentiment and revival in IT spends, hiring seems to be back in full swing at software firms like Infosys and TCS.
While the country`s largest IT firm, Tata Consultancy Services (TCS) has made gross additions of over 21,000 people till the third quarter of financial year 2009-10, Infosys plans to hire 24,000 in financial year 2010-11.
"We have made gross additions of over 21,000 people, including subsidiaries till Q3. With utilizations at optimum levels (81.1 percent, excluding trainees), we will look at aggressive hiring in the current quarter to match our talent needs with the business demand," TCS Vice-President and Head (Global HR) Ajoy Mukherjee told.
In the third quarter, TCS had made 7,692 net additions, compared with a net addition of 320 in the previous quarter.
"Hiring has gained momentum as forecasted. Within Monster, in December 2009, we saw 33 percent growth in job postings over November and 90 percent compared to May in the software, hardware and EDP category," Monster.com India Manging Director (Middle East and South East Asia) Sanjay Modi said.
With the market sentiments improving and enhanced focus on domestic market, IT firms have got back to the hiring spree.
"Infosys will be hiring 6,000 people in the fourth quarter of financial; year 2010. Of these, 1,500-2,000 will be lateral hires. With this, the total gross hiring in financial year 10 will be 24,000 (gross)," an Infosys spokesperson said.
The company plans to make 15,000 offers at campuses for the fiscal 2011, of which, 9,000 offers have already been made, the spokesperson added.
Apart from new openings, companies are also offering incentives and promotions, which was frozen during the economic slowdown.
"We gave a mid-year wage hike in October 2009 as there were signs of the environment improving, this was an average of 8 percent for offsite and 2 percent for onsite employees," Infosys spokesperson said.
The IT bellweather has also announced 100 percent payment of the variable component of salaries and would consider wage hikes and promotions for the fiscal year 2011.
TCS, on the other hand, has not hiked wages in the current fiscal, but employees have received 150 per cent VA payouts in two consecutive quarters ? Q2 and Q3 of FY`10.
"We will review salary increments for the next fiscal towards the end of the current quarter,"