Infosys Skips Campus Hiring for the Second Quarter in a Row, whereas TCS to Start from FY25. In a sign of the times, India’s IT giants are taking diverging approaches to campus hiring. Infosys, the country’s second-largest IT services company, has announced that it has no immediate plans to recruit from campuses, while rival Tata Consultancy Services (TCS) has already begun its hiring process for the next fiscal year.
Infosys Focuses on Flexi Hiring
Infosys’ outgoing Chief Financial Officer, Nilanjan Roy, said that the company is continuing to monitor its utilization and flexi hiring model, and at present, there is no need for immediate campus recruitment. However, he added that Infosys has a strong off-campus program in place if there is an uptick in demand.
This is the second consecutive quarter that Infosys has skipped campus hiring. In October, the company had announced that it would be evaluating its hiring plans each quarter based on demand. The Bengaluru-based company’s headcount has been shrinking for the past four quarters, ending December 31 with 322,663 employees.
TCS Committed to Campus Hiring
TCS, on the other hand, is taking a different approach. The Mumbai-headquartered firm has said that it is committed to hiring from college campuses and growing its talent organically.
“We have commenced our campus hiring process for the next year and see tremendous excitement among freshers to join TCS,” said Milind Lakkad, Chief HR Officer, TCS. Lakkad added that it would be difficult to specify the number of hires but it would be “a big number.” For FY2023-24, TCS has a target of hiring 40,000 freshers.
Lakkad also said that TCS’ attrition rate has further dropped to 13.3 percent in the December quarter, down from 14.9 percent in the previous quarter.
What Does This Mean for the Job Market?
The contrasting approaches of Infosys and TCS reflect the current state of the IT job market in India. Infosys is being cautious due to the uncertain economic climate, while TCS is looking to invest in its future workforce.
It is still too early to say which approach will be more successful, but it is clear that the IT job market in India is in a state of flux. For young graduates, this means that it is more important than ever to be adaptable and willing to consider different career paths.
Here are some additional insights:
- The IT job market in India is expected to grow at a healthy rate in the coming years, driven by factors such as the digitalization of the economy and the increasing demand for IT services from global companies.
- However, the job market is also becoming more competitive, and it is important for young graduates to have the right skills and experience to stand out from the crowd.
- Some of the most in-demand skills in the IT sector include artificial intelligence, cloud computing, and cybersecurity.
- Young graduates who are willing to learn new skills and adapt to change will be well-positioned to succeed in the IT job market.
I hope this article helps you to understand the current state of the IT job market in India.
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