India's leading IT companies including Infosys, TCS, Wipro, Tech Mahindra and HCL have increased their hiring and until the second half of the current fiscal year 2020 i.e. by September has hired a total of more than 64,332 employees to their workforce. This is an 18% surge in hiring in comparison to the same period a year ago. In the first half of FY19, as per an Economic Times report, these IT majors together added 54,642 people to their workforce.
While employees are being given jobs for entry level roles, there has been seen a retrenchment of those who are in the mid-level jobs i.e. with 10-15 years experience and who are into conventional roles.
The hiring is primarily from rival companies as well as from campus placements which aims to complete newer digital projects, which contribute to more than a third of revenue for these IT service providers.
"Hiring continues to be very strong to fulfil the order book. Net addition in Q2 was 14,097, the highest-ever number of employees to be onboarded in a quarter," TCS said in its release of the September results.
Digital business is growing in double digits but the traditional services provided by these companies such as those of application development and maintenance have stood steady, with no fall or growth.
In accordance with Nasscom, the trade association of Indian IT industry, almost 60-65% of the current IT roles will see substantial transformation over the next 5 years time.