Debasis Mohapatra
Bengaluru, 20 July 2024
Indian IT services companies are ramping up the campus placement process after halting the process for a full year.
The top four Indian IT services firms- Tata Consultancy Services, Infosys, HCLTech & Wipro are planning to recruit around 70,000 freshers through campus placement in the current financial year.
Analysts are of the opinion that high employee utilization levels with reduction of bench strength (number of reserved employees, who are not deployed in any project) are the reasons behind large IT firms’ plans to ramp up fresher hiring after nearly one and half years.
“If you see, the bench strength of most IT firms has reduced in recent quarters. So, the current hiring process should be seen in that context,” Aditya Narayan Mishra, CEO of CIEL HR Services told the Data Biz Times.
During the recently concluded first quarter results, TCS management indicated that the company would be giving offer letters to around 40,000 freshers through the campus placement process in FY25.
“We have already onboarded around 11,000 freshers in the first quarter. While it is difficult to say how many freshers will be hired, but it should be around 40,000 like previous years,” Milind Lakkad, Chief HR Officer of TCS has said in the post-results press conference.
Similarly, India’s second-largest IT services provider- Infosys also plans to hire around 15,000-20,000 freshers this year. Given less scope to improve its employee utilization further, the company is trying to ramp up its supply base to meet the upcoming demand.
“As our utilization level has touched around 85%, there is less scope for more improvement. We will start headcount addition from this quarter. We will go to campuses as we plan to hire 15,000-20,000 freshers this fiscal year,” Jayesh Sanghrajka, CFO at Infosys has said in the post-results press conference.
Similarly, Wipro management said they would look at the supply base from here onwards given the depleted bench strength.
“As you have seen, we have been improving our employee utilization levels each quarter. Now is the time to look at the supply side. We plan to recruit around 10,000-12,000 freshers in the current year from campuses. We have already onboarded around 2,000 freshers in the first quarter,” Chief HR officer of Wipro, Saurabh Govil has said.
Earlier, HCLTech has said that it would hire around 10,000 freshers in the current financial year.
