It is no secret that the Indian IT sector led the recovery in the job market following a year-long hiring freeze due to the COVID pandemic. And it seems the buoyancy is going to continue in the second half of this financial year. With a jump in demand for talent in the corporate sector, big IT companies such as TCS, Infosys, Wipro, and many others have doubled up their hiring activities.
According to market intelligence firm UnearthInsight, the IT sector in India will witness a gross addition of over 4.5 lakh jobs in the second half of the 2022 financial year. In comparison to the first half of the year, these these additions reflect a growth of 12 percent.
With higher attrition of around 7-19% in the second half of FY22, the tech sector is expected to have a net employee addition of 1.75 lakh in the period, the report showed. As per the report, about 2,50,000 freshers are likely to be added in 2022 fiscal by more than 30 domestic and multinational IT firms in the country.
The report also stated that focus on campus and fresher hiring will help the IT companies to control the overall attrition rate. However, fresher hiring this fiscal is expected to be dominated by the top-five IT companies in India.
IT major Tata Consultancy Services (TCS) has already revealed plans to hire 77,000 fresh graduates, followed by Cognizant and Infosys 45,000 each, while HCL and Tech Mahindra are targeting 22,000 and 15000 hirings respectively.