This year, Infosys plans to hire approximately 35,000 engineering graduates from colleges around the world. As digital agreements continue to flow in and customer initiatives ramped up, IT companies are drawing up robust hiring plans for the second year in a row. TCS announced last week that it is planning to hire more than 40,000 people from colleges and universities this year.
Meanwhile, Infosys COO Pravin Rao stated that as the demand for digital talent grows, the sector faces a near-term challenge: growing attrition. Infosys wants to match this demand by expanding its college graduate hiring programme.
Voluntary attrition at Infosys increased sequentially from 10.9 percent to 13.9 percent in the first quarter, based on LTM (last twelve months) rather than quarterly annualised data. It grew by 8,334 individuals over that time.
'Voluntary attrition is a source of concern in some ways, but it's also a reflection of the high demand environment and supply scarcity. We expect this situation to persist till supply catches up,' said Rao, adding that 10,000 freshers have already been employed, with the remaining expected to be hired within the next 2-3 quarters.
He claims that Infosys has implemented a number of high-level employee engagement initiatives, including career acceleration chances, salary reviews, and learning and development interventions. Salary increases were made in January and again in July.