Winning Bizness Desk
Mumbai. If you are looking for a job, then you will not have to wait much, because in the new year IT companies are going to do vigorous recruitment. But Indian IT companies can hire 20 percent less people in campus placements and entry level hiring in the next financial year i.e. FY 2023-24. With fears of recession deepening in the US and Europe, IT companies have already slowed down their hiring and onboarding process. Despite strong indicators in the software market, Indian tech companies are facing exodus and erosion in margins. The biggest impact of this has been on the hiring of freshers. In the new year i.e. in FY23, Infosys is expected to recruit 50,000 people from the college campus. Wipro and TCS can recruit 30,000 and 40,000 people respectively.
Russia-Ukraine war had put hiring on hold
Tech Mahindra will hire 15,000 people and HCL Technologies can hire 45,000 people. Recently there were reports that many people who were sent offer letters six months ago, have not yet been told the joining date. Many of these candidates have raised this issue on social media. Notably, these job offers were given before February 2022, when economic activity was gaining momentum after several waves of Kovid epidemic. However, after the Russia-Ukraine war, inflation increased significantly and the problem of supply chain increased significantly. In the initial phase of the pandemic, companies had to struggle a lot to meet their digitization needs. Due to this, more hiring had to be done and good salary had to be paid.
Everything depends on fate of slowdown
According to Saran Balasundaram of tech recruitment firm HandDigital, around 4,70,000 employees were added to the IT and IT enabled service sector in FY22. In FY23, we have an estimate of 3,50,00-3,70,000 recruitments in the IT sector, but if the slowdown continues, this figure may drop significantly. But the good thing is that the figure will remain the same as FY23.