TCS, Infosys To Hire Over 90,000 This Fiscal Year; WFH To Continue; Learn Everything There Is To Know About IT Jobs

Companies are speeding up their new recruitment and seeking to reduce attrition in the information technology business, which is experiencing high attrition rates despite a vibrant environment full of demand. TCS, India's largest IT services firm, plans to hire 40,000 people. In the current fiscal year, another IT behemoth, Infosys, plans to add upwards of 50,000 people.

In the March 2022 quarter, Infosys' attrition rate increased to 27.7%, up from 25.5 percent in the December 2021 quarter. TCS attrition was 17.4 percent in the fourth quarter of 2021-22, compared to 7.3 percent in the same quarter a year ago. TCS attrition was 15.3 percent even in the December 2021 quarter.

TCS Management stated that while the figures are high on a last-twelve-month (LTM) basis, they are decreasing on an incremental basis. The attrition rate at Infosys also decreased in the last quarter, according to the company's management.

In the case of TCS and Infosys fresher recruiting, the firms made a total of 61,000 campus recruits in FY21. This climbed by a factor of ten in FY22 and is expected to continue. In FY22, TCS and Infosys each hired 100,000 and 85,000 freshers.

TCS has stated that their recruiting momentum will be similar to the previous fiscal year. TCS Chief Operating Officer N G Subramaniam said the business is starting the year with a hiring target of 40,000 people and will increase it if necessary throughout the year.

You Can Work From Home

The work-from-home (WFH) paradigm continues to benefit the IT industry, which is currently considering implementing a hybrid work model.

TCS further stated that it is committed to implementing its forward-thinking 25X25 approach. It means that at any given time, no more than 25% of the company's colleagues must work from an office, and they must spend no more than 25% of their time doing so.

TCS is also putting in place hot desks and occasional operating zones (OOZ). It is establishing agile work chairs around the world, allowing associates to work and collaborate with coworkers from any TCS location.

Infosys has also announced that it will implement a "phased return to the office," encouraging staff to come in for a day or two per week. However, the organization is moving toward a hybrid working paradigm in the long run.