The move is likely to help in containing costs by improving the employee pyramid; lateral hiring likely to be on need-basis
IT services firms in India are likely to continue with their campus recruitment plans this year despite the Covid-19 crisis impacting their businesses.
However, the hiring of experienced people will be done on ‘need basis’.
Though the pandemic has increased cost pressure on these companies, prompting them to freeze lateral hiring, experts are of the opinion that intake of fresh engineering graduates will continue as they don’t want to miss out on opportunities when the demand bounces back.
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“While companies are looking at optimising cost by limiting lateral hiring, at the same time, they don’t want to miss out on the demand, which is expected to come back after the pandemic is contained. The implication of not having enough resources when the demand picks up is not seen as a good strategy. So, all big IT firms are reorienting their strategy to have enough freshers on a roll to meet any surge in demand,” said Aditya Narayan Mishra, director and chief executive officer, CIEL HR Services.
In a post-earning commentary for the just-ended quarter, top Indian IT services companies — Tata Consultancy Services, Infosys, Wipro and HCL Technologies — have said that they would continue to hire freshers through campus interviews, though lateral hiring will be mostly on exception basis. Similarly, HCL Technologies is planning to add 15,000 freshers this financial year.
Source: Business Standard
