One of the biggest problems our country is facing due to the Covid-19 pandemic is the freeze in hiring and slowdown in terms of business, expansion and employment. Despite financial challenges and slowdown in the entire economy, software giant Infosys successfully hired 21,000 individuals from campuses globally in the last financial year. The company is now planning to take these numbers further up by planning to recruit 25,000 individuals this year.
The market and employers are now gearing up for a talent war in the coming year. With businesses going entirely online, and the current needs for a fresh and accustomed individual, Infosys is gearing up to accumulate the right talent pool to scale up performance. Apart from positive news on the front of hiring, Infosys has also announced hikes in salaries from July.
In a recent conference, the company reported an attrition rate of 15.2 per cent at the end of the March quarter and a sharp spike of about 10 per cent in the previous quarter. Despite salary hikes in January, the attrition rate has gone up.
In a recent analysts conference, CEO Salil Parekh hinted towards competition between employers in the IT/ITES industry due to the low availability of skilled individuals and high demand for work.
In 2020-21, Infosys reported a consolidated operating margin of 24.5 per cent. The company suggested that it expects some pressure on profitability, keeping in mind their higher spending on talent retention and pay hikes.
Even though the job market might be tense, but as hiring may pick up, employers need to elevate their policies and practices in order to acquire seasoned and skilled professionals.
