New Delhi: With the boom in IT services globally, Indian companies are now doubling down on their hiring plans. For instance, Infosys is now planning to hire 45,000 college graduates in the ongoing financial year.
Infosys announced its aggressive hiring plans after posting the financial results for the second quarter of the ongoing financial year ending September 30, 2021. However, the company is now faced with high attrition levels just like other IT companies such as TCS, Wipro and HCL, among others.
The Bengaluru-based IT giant was previously planning to hire 35,000 candidates. However, the company has now increased the target to 45,000 freshers for the ongoing financial year.
Infosys’ Chief Operating Officer said that in order to harness the full potential of the market opportunity, the company is expanding its college graduates hiring program to 45,000 for the year.
“Simultaneously, we continue to strengthen employee value proposition including health and wellness measures, reskilling programs, appropriate compensation interventions and enhanced career growth opportunities”, he added.
Currently, Infosys is faced with high attrition rates. At the end of the September 2021 quarter, the tech company’s attrition rate stood at 20.1% on an annualised basis. Last year, the attrition rate stood at 12.8%. Also Read: Gold Price Today: Gold selling cheaper by Rs 9,000 from record highs, right time to buy amid festivities?
Till the end of the September quarter, more than 2,79,617 individuals were employed at Infosys. Meanwhile, the IT major said its consolidated net profit grew by 11.9 per cent to Rs 5,421 crore for the September 2021 quarter. In its earnings press conference, Infosys CEO Salil Parekh said that this will be the last full quarter before Pravin retires. Also Read: Infosys to undergo top-level change as COO UB Pravin Rao retires