Yesterday, India’s IT services provider Tata Consultancy Services (TCS), Infosys, and Wipro has announced their third-quarter results for the financial year 2022.
All three Top IT companies have reported jump in attrition rate which leads to increase in the number of freshers hiring in Q4.
Attrition
- TCS attrition inched up to 15.3% compared to 11.9% in the second quarter
- Infosys attrition has risen to to 25.5%, from 20.1% in the September quarter
- Wipro attrition climbed to 22.7% on a trailing twelve-month basis, up from 20.5% last quarter
Hiring Plans
While announcing Q3FY22 results Infosys said that the company is planning to hire over 55,000 freshers for FY22 as part of its global graduate hiring program. Wipro to hire
TCS, which hired 43,000 freshers in the first half of fiscal 2022, said in the third quarter itself it hired the 34,000 freshers planned for the entire second half and will likely hire more in the fourth quarter.
Wipro said it expects to hire about 30,000 freshers in FY23, as the IT services major strives to ensure that supply is not a constraint in managing the robust demand environment.
Total Headcount
- TCS has added 28,238 people to its workforce in the third quarter. With this, the company’s total workforce strength stands at 5.56 lakh.
- Infosys added 15,125 people in the quarter, taking its total strength to 292,067 employees.
- Wipro reported a net addition of 10,306 employees during the quarter, taking its total headcount to 231,671.
Commenting on results Samir Seksaria, CFO, TCS said, “Our sustained investment in our talent has helped us power strong growth despite a challenging supply environment,”
“We remain focused on long-term talent development as well as on tactical measures to mitigate the talent churn.” he added.
“Our talent strategy continued to be a key focus area marked by efforts to further strengthen employee skilling and well-being while nurturing our workforce to fulfil client requirements,” said Salil Parekh, CEO, and MD of Infosys.
Nilanjan Roy, Chief Financial Officer, Infosys said, “We continue to prioritize investments in talent acquisition and development and have further increased our global graduate hiring program to over 55,000 for FY22 to support our growth ambitions.”
Amid the fast-spreading Omicron variant of the COVID virus, the company remains ”very vigilant”, Wipro CEO and Managing Director Thierry Delaporte said, adding that as a proactive measure, the company has decided to close its offices globally for the next four weeks.
