It also expects the talent situation to stabilize by the second half of 2023.ĭuring the earnings call on 21st April, C Vijayakumar, chief executive of HCL Tech, stated that the company is also looking to tap the US and Asia Pacific for talents apart from India. Research article indicated the industry-wise proportionate voluntary staff turnover of employees working in different sectors across the country. With the beginning of current pandemic in India, the IT companies are now. Attrition means the departure of the employees from the company for any reason like resignation, death, retirement, termination etc. The Indian IT industry recorded 25.2 per cent employee attrition in FY22 and that pain will continue as it loses talent to other industries, said a report by TeamLease. Tech talent in non-tech companies will see 3X growth in the coming years. In case of HCL Tech, apart from increasing the fresher employees to 45,000 in 2023, the company is also tapping into talents in other regions. Attrition in IT sector is leading in a high rate now in India and many big IT firms are facing problems in taking forward the projects. Non-technology lapping up as employees seek work flexibility and opportunities for career development. In 2023, these companies will be hiring 1.35 lakh students from campuses, and this number may also rise. Employees with high experience could be hired on requirement and positioned to projects with least training. For example, TCS and Infosys hired 100,000 and 85,000 respectively whereas their initial estimates were 40,000 and 26,000 at the beginning of the fiscal year.įor HCL Tech, the 23,000 freshers the firm hired was a huge increase from the 12,000 freshers hired in the year before. Keywords: - Employee, Attrition, Retention, IT Industry Introduction BVR Mohan Reddy, vice-chairman of NAASCOM explained thatIT companies seem to be dropping bench strengths, which might go losing around 1-2 per cent of last fiscal year. The top three IT firms consistently increased their fresher supply from their initial estimates. TCS, Infosys and HCL Tech employed 103546, 5430 new people the last fiscal, respectively. Talent is resulting in IT firms hiring more freshers in 2022, a trend that is likely to continue in 2023.
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