IT companies tap gig workers as high attrition rates bite
2 years, 4 months ago

IT companies tap gig workers as high attrition rates bite

Live Mint  

NEW DELHI: India’s information technology companies are expanding their talent pool by hiring freelancers, project-based workers, independent contractors, and part-time hires as they battle high attrition levels in an industry experiencing a covid-induced boom in demand. Collectively dubbed the ‘gig workforce’, these workers are equipped with specialised technical skills to complete pending digital projects and fill new roles that the IT firms need. TCS, meanwhile, calls its gig workforce the “talent cloud”, referring to a virtual talent pool available for any project from across locations to meet client demand and project needs. “Overall, the growth of gig workers’ consumption by tech enterprises has seen QoQ growth ranging from 2% to 19% depending on the nature of talent consumed,” said Kamal Karanth, co-founder of Xpheno, a specialised staffing solutions firm. With necessary controls in place, deploying gig workers on mission critical projects is not very different from engaging full-time employees, Siva Prasad Nanduri, chief business officer of hiring firm, TeamLease Digital, pointed out.

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History of this topic

Tech hiring: Jobs aplenty? Know what the top IT services companies are eyeing
8 months, 2 weeks ago

Tech hiring: Jobs aplenty? Know what the top IT services companies are eyeing

Hindustan Times  

In some very good news for the information technology sector, it is being reported that top IT services companies are on a hiring drive and that the segment actually recorded its first rise in 20 months. What with slowing attrition rate, the gross hiring by these companies actually dipped 4-6% QoQ, as per an analysis Economic Times got done by …

TCS, Infosys, Wipro, HCL Tech: Hiring In IT Sector To Remain Slow For 2-3 Quarters, Says Report
1 year ago

TCS, Infosys, Wipro, HCL Tech: Hiring In IT Sector To Remain Slow For 2-3 Quarters, Says Report

News 18  

IT companies in India, including TCS, Infosys, HCL Tech and Wipro, have hired fewer employees in the past four quarters, due to demand slowdown, reduction in attrition levels and excessive hiring during the pandemic, according to a report by ratings agency ICRA. However, the average last twelve-month attrition for IT companies declined to 14 per cent as of September 2023, …

Indian IT company plans to hire 6,000 professionals amidst tech layoffs, details here
1 year, 5 months ago

Indian IT company plans to hire 6,000 professionals amidst tech layoffs, details here

India Today  

The tech industry is going through a rough time at present with layoffs happening at a rapid place at companies. IT company announces hiring 6,000 people Hexaware Technologies plans on hiring around 6,000 people and has 419 job openings posted on LinkedIn. Techies opting for lower salary, better perks Meanwhile, according to a recent survey by job posting site Blind, …

IT firms may see a sharp decline in attrition rate
1 year, 8 months ago

IT firms may see a sharp decline in attrition rate

Live Mint  

India’s software services companies are expected to see a sharp drop in attrition rates in the coming quarters, from the current 20%-plus to as low as 16%, as the impact of hiring freezes and retrenchments takes effect. This slowdown of hiring started from November 2020 onwards and will continue to till September 2023,” said Saran Balasundaram, founder of HanDigital, a …

Bad news awaiting tech grads entering the job market
1 year, 10 months ago

Bad news awaiting tech grads entering the job market

Live Mint  

NEW DELHI : Technology companies are likely to hire engineering graduates at the previous year’s levels of ₹2-4 lakh per annum, industry experts said, adding they expect no increase in freshers’ pay this year as hiring winds down after a year of aggressive recruitment. We expect large IT services firms to offer salaries of ₹3.18-4 lakh for entry-level campus hires," …

TCS, Infosys, Wipro, HCL Tech Face High Attrition Rates; Know What Experts Say On The Issue
2 years, 2 months ago

TCS, Infosys, Wipro, HCL Tech Face High Attrition Rates; Know What Experts Say On The Issue

News 18  

IT companies — Tata Consultancy Services, Infosys, Wipro and HCL Tech, among others — are facing high attrition rates and the IT sector’s average attrition rate is currently as high as 25 per cent. HCL Tech’s attrition remained at 23.8 per cent in Q2FY23, TCS attrition rate in IT services was 21.5 per cent during the September 2022 quarter. Wipro’s …

The growing appeal of gig workers to IT companies
2 years, 4 months ago

The growing appeal of gig workers to IT companies

Live Mint  

Some years ago, I wrote in IT Matters that we will see a fundamental shift in how services are delivered by information technology firms, where managing large employee pools would become passe. Service providers would also make the case that their firms were indeed a better place for client employees whose focus was IT since these resources wouldn’t be relegated …

TCS, Wipro, HCL chalk out plans to retain employees amid high attrition
2 years, 5 months ago

TCS, Wipro, HCL chalk out plans to retain employees amid high attrition

Live Mint  

The rising attrition rate has continued to be a big concern for the IT companies in India due to increased demand for technology talent. As per the regulatory filing to the stock exchanges, the attrition rate in the Indian IT services major Tata Consultancy Services was at 19.7% in the past 12 months. Here are some of the significant strategies …

India’s gig workforce will grow to 2.35 crore by 2029-30: Niti Aayog study
2 years, 5 months ago

India’s gig workforce will grow to 2.35 crore by 2029-30: Niti Aayog study

The Hindu  

The government’s policy think tank Niti Aayog has recommended that measures should be taken to provide for social security, including paid leave, occupational disease and work accident insurance, support during irregularity of work and pension plans, for the gig workforce in the country, which is expected to grow to 2.35 crore by 2029-30. The report broadly classifies gig workers — …

TCS sees fall in staff attrition, robust demand for IT services
2 years, 6 months ago

TCS sees fall in staff attrition, robust demand for IT services

Live Mint  

India's top software services exporter Tata Consultancy Services expects the rate of staff departures to fall and demand for its services to rise as companies continue with their pandemic-hastened digitisation processes, a company executive said. More tech talent is expected to enter the job market from startups facing funding crunches, as central banks withdraw stimulus and hike rates, TCS Asia …

53% Indian Firms Plan Hirings, 60% Set to Increase Salaries as IT Sector Leads Rebound
3 years, 10 months ago

53% Indian Firms Plan Hirings, 60% Set to Increase Salaries as IT Sector Leads Rebound

News 18  

With TCS piping Accenture to become the most valuable IT company in the world, India’s IT sector has successfully negated the naysayers. Now, according to according to professional recruitment services firm Michael Page India’s ‘Talent Trends 2021 Report’, 53 per cent of companies say they are planning to increase their headcounts in 2021. According to the report, India projects an …

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