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| Infosys, TCS to go on hiring spree in Q4 |
| Press Trust of India / New Delhi Feb 02, 2010, 17:52 IST |
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With improving business sentiment and revival in IT spends, hiring seems to be back in full swing at software firms like Infosys and Tata Consultancy Services (TCS).
While the country's largest IT firm, TCS, has made gross additions of over 21,000 people till the third quarter (Q3) of financial year 2009-10, Infosys expects the gross hiring to be 24,000 in 2009-10.
"We have made gross additions of over 21,000 people, including subsidiaries till Q3 FY10. With utilisations at optimum levels (81.1 per cent, excluding trainees), we will look at aggressive hiring in the current quarter to match our talent needs with the business demand," TCS Vice-President and Head (Global HR) Ajoy Mukherjee told PTI.
In Q3 of FY10, TCS had made 7,692 net additions, compared with a net addition of 320 in the previous quarter.
"Hiring has gained momentum as forecasted. Within Monster, in December 2009, we saw 33 per cent growth in job postings over November and 90 per cent compared to May in the software, hardware and EDP category," Monster.Com India Manging Director (Middle East and South East Asia) Sanjay Modi said.
With the market sentiments improving and enhanced focus on domestic market, IT firms have got back to the hiring spree.
"Infosys will be hiring 6,000 people in Q4 FY10. Of these, 1,500-2,000 will be lateral hires. With this, the total gross hiring in FY10 will be 24,000 (gross)," an Infosys spokesperson said.
The company plans to make 15,000 offers at campuses for the fiscal year FY11, of which, 9,000 offers have already been made, the spokesperson added.
Apart from new openings, companies are also offering incentives and promotions, which was frozen during the economic slowdown.
"We gave a mid-year wage hike in October 2009 as there were signs of the environment improving, this was an average of 8 per cent for offsite and 2 per cent for onsite employees," Infosys spokesperson said.
The IT bellweather has also announced 100 per cent payment of the variable component of salaries and would consider wage hikes and promotions for the fiscal year 2011.
TCS, on the other hand, has not hiked wages in the current fiscal, but employees have received 150 per cent VA payouts in two consecutive quarters — Q2 and Q3 of FY10.
"We will review salary increments for the next fiscal towards the end of the current quarter," Mukherjee said.
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