TCS, Infosys, HCL Tech report more fresher hiring than lateral

 TCS, Infosys, HCL Tech report more fresher hiring than lateral

India's leading IT service firms including TCS, Infosys, HCL Technologies are hiring more freshers than laterals.

The companies are settling down on hiring fresh graduates. 

The IT companies such as Tata Consultancy Services (TCS), Infosys, Wipro, Tech Mahindra and HCL Technologies are witnessing the lowest attrition rates that they have observed in the last few years. 

This is affecting the overall lateral hiring. HCL's chief HR officer said that a large amount of lateral hiring happens due to attrition replacement. 

HCL reported an attrition rate of 12.2% for this quarter, which is lowest in the last two years. The rate is the lowest that it has been in the last two years. 

Infosys and HCL are among the top IT firms looking to onboard freshers since July. HCL plans to on-board 9,000 freshers before March 31st, which will bring the total headcount of new joinees to 12,000 in the current fiscal year. 

India's largest IT firm TCS has also been focused on hiring more freshers over laterals since July.

 The tech firm has increased its recruitment in Q2. TCS is looking to hire 10,000 employees over the next year. 

Wipro has robust hiring plans for the second half of this fiscal year. The company is confident about hiring plans. 

Wipro has recently seen a change in leadership. The company plans to go ahead with both lateral and campus hiring. 

The IT sector is recovering from the economic impact of the Covid-19 pandemic. Hiring Indian talent is relatively cheaper.

 It's easier to train freshers for specific skills since they are in short supply in the market.

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