The IT sector in India is witnessing a yawning demand-supply mismatch in manpower. While the demand for tech professionals and software engineers is increasing, so is the attrition rate.
And, to cope with the attrition, many big IT companies like TCS, Infosys, Wipro, and others have nearly doubled their hiring activities. But it seems it’s not enough to bridge the gap, which is why companies are revising their hiring targets upwards.
India's third-largest IT firm Wipro, which reported over 20 percent attrition, had previously estimated to hire 12,000 freshers. But the Bangalore-based IT firm has revised its estimates and is now planning to hire announced nearly 17000 fresh graduates from the campuses.
According to Wipro’s Chief Financial Officer, Jatin Dalal, the IT giant had hired a record number of 8,100 freshers in the June-September quarter and the company will add more 25,000 people to the total workforce in the next financial year.
Highlighting the same, Saurabh Govil, Global HR Head at Wipro said that the IT firm will hire 30,000 freshers from the campus for the next financial year 2022-23.
In a bid to address the rising attrition rate, India's largest software exporter, Tata Consultancy Services (TCS) is planning to sign up almost 78,000 freshers this year, instead of the 40,000 planned initially.
On the other side, another Indian tech giant, Infosys is aiming to hire 45,000 college graduates from the campuses this fiscal.