Hiring in the Information technology sector which witnessed a slowdown for the last 6-8 quarters is again gaining pace. For the last quarter ended June of the ongoing financial year 2019-20, top Indian IT companies including Infosys, TCS, Wipro, HCL Tech, Tech Mahindra have on a combined basis hired 57% more employees in comparison to the corresponding period a year ago.
For the June quarter, the net employee increase by these IT services firm had been over 27,300 in comparison to just 17,383 in Q1FY19.
TCS was the top recruiter and hired the maximum number of people in 5 years time at 12,356 in Q1. At the same time, Infosys hired just 906 people. Further in accordance with the business daily report, Wipro onboarded more people during the period under review in comparison to what it did in the whole of last year.
Anticipating an increase in demand from global clients for digital services, these IT companies are looking at establishing a bench and thus have provided more campus placements this year.
It is to be noted that for some six-eight quarters, the leading IT services exporters which contribute to a major chunk of revenue for the Indian software industry were experiencing slowdown as they shifted their focus to digital services from conventional services. And thus the emergence of digital technologies such as AI, automation involved more of technology deployment for business problem solving, which lessened the requirement of more and more of software professionals.
"The disturbing phase of the IT sector is behind us. Essentially, they have chalked out the future now and the hiring numbers are a reflection," the business daily quoted as saying Rituparna Chakraborty, cofounder, Teamlease Services and president, Indian Staffing Federation. The hiring numbers will not be as exponential as in the early days, "but we can anticipate net growth quarter on quarter and that should not be a surprise anymore," she said.