Most of the hirings are, however, in the entry or junior level.
More people working in India's technology industry have lost their jobs in the first six months of 2023 than in the corresponding period in 2022.
Acknowledging a job well done can go a long way especially for professionals who are the driving force behind an enterprise's business operations, notes Vijay Gupta, director-global human resources at Rahi, a tech solutions provider.
Employee costs for Indian IT services players have touched an all-time high as salaries soar in their effort to retain talent. Engineer salaries are going through the roof. According to a news report, Infosys, which reported a 27.7 per cent attrition rate for the fourth quarter of FY22, plans to have an average salary hike of 12-13 per cent. High potential employees will get increases of 22-23 per cent.
India's unemployment rose to a three-month high in March to 7.8 per cent as the country's labour markets deteriorated, according to data from the Centre for Monitoring Indian Economy (CMIE). Unemployment rate in the country surged in December 2022 to 8.30 per cent but declined in January to 7.14 per cent. It edged up again in February to 7.45 per cent, the CMIE data released on Saturday showed. During March, the unemployment rate in urban areas was at 8.4 per cent while in the rural areas it was at 7.5 per cent.
Moving over 520,000 employees to a digital work model is no mean feat. Having done so, Tata Consultancy Services (TCS) is taking these learnings to help clients digitise their work models. Swiss Re is one such client. For the global information technology services firm with a headcount of 528,748 as of end-September, the shift to a single human resource (HR) platform started a few months before the pandemic started, when TCS moved its HR solutions to Microsoft's platform. Siva Ganesan, global head, Microsoft business unit, TCS, still remembers the early days when TCS embarked upon a move from an existing software platform to a digital medium for communications on a Microsoft Office platform.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
Roles ranging from digital marketing to wealth management are some of the emerging roles, notes Sekhar Garisa, CEO, foundit, a job search app.
The procurement proposals were approved by the Defence Acquisition Council headed by Defence Minister Rajnath Singh, the ministry said.
Organisations today are more focused on candidates' skills that will not only add business value to the organisation but also help them thrive.
Even at the entry-level, professionals who have proficiency in emerging technologies will have an edge over others in these domains.
With the growing talent pool, professionals must keep pushing their limits to stay relevant.
Having the right know-how and being able to adapt to changing trendsd and industry shifts can make all the difference to how a business functions today.
HR experts estimate that up to 70 per cent companies in the manufacturing and services space including sectors like auto components, edutech and construction equipment are looking to restore the salary cuts over the next couple of months.
The one common thread that we see across these jobs is that they are all highly human-centric, points out Ramesh Kumar.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
'It's a big technology company and may offer good remuneration, but stability in my career is equally important to me.'
Wipro on Tuesday asked its employees to be in office at least three days a week. It has informed its employees that offices will be open for four days a week, starting October 10. In an e-mail to its employees, Wipro said: "Starting October 10, Wipro's office will be open Mondays, Tuesdays, Thursdays, & Fridays. We will not be open on Wednesdays." The company said in the e-mail, seen by Business Standard, that the move will "help us enjoy the camaraderie and team spirit of connecting in person while maintaining hybrid work flexibility".
India should emerge as the 'human resource capital' of the world as China has become a global 'manufacturing factory'.
The Delhi police on Tuesday arrested two persons including NewsClick founder Prabir Purkayastha in connection with a probe in the portal's foreign funding, officials said.
Dip in attrition rates and higher bench strength seem to be signalling a normal year for hiring in FY24.
However, the social media giant hasn't responded to as yet.
The ability to make smarter data-driven decisions will be a critical skill that every employer will be looking at in every prospective employee.
It has taken a pandemic to move the needle on the salary packages for greenhorn engineers hired by the Indian IT services sector. The country's third-largest IT services player, HCL Technologies, has decided to boost the entry-level packages from Rs 3-3.6 lakh to Rs 4.25 lakh for FY23, in a bid to attract fresh talent and keep them for longer to counter the impact of rising attrition. This new package would also be applicable to those freshers who joined the firm in FY22.
An increasing number of hiring managers are opting for video conferencing platforms to know the candidates, explains Narayan Bhargava, chairman and managing director, Calibehr.
Due to the group's presence across multiple businesses, it is in a unique position in the aviation industry to bring the best of talents.
'Our focus on fresher induction is high, given that they come in with certain advantages.' 'They do not have an unlearning process as seen in senior employees.'
Infosys has shot off a missive to its employees, asserting that dual employment or 'moonlighting' is not permitted, and has warned that any violation of contract clauses will trigger disciplinary action "which could even lead to termination of employment". "No two timing - no moonlighting!" India's second largest IT services company said in a strong and firm message to employees on Monday. Put simply, moonlighting refers to employees taking up side gigs to work on more than one job at a time.
Software major Tata Consultancy Services on Wednesday reported a 14.8 per cent rise in net income to Rs 11,392 crore for the fourth quarter of last fiscal against Rs 9,959 crore in the year-ago period. The country's largest technology services company by market value said its revenue rose 16.9 per cent to Rs 59,162 crore during the reporting season from Rs 50,591 crore a year ago.
Industry leaders are predicting hybrid cloud to be the next biggest trend in cloud computing.
Top Indian IT services companies - TCS, Infosys, Wipro and HCL Tech - have said that they would continue to hire freshers through campus interviews, though lateral hiring will be mostly on exception basis.
32 per cent employees from India were concerned about not having access to the right technology assets to be productive and 30 per cent cited the blurring boundary between work and personal lives as the top concerns should remote work arrangements continue long-term.
Jobs in HR, administration and recruitment have seen a substantial rise as per Monster data with a 42% growth in job posting activity.
Parliament has cleared the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, recently. The objective of the Act is to invite investments from the private sector, including foreign companies, for mining minerals such as lithium and other critical minerals. Other than lithium, some of these minerals were classified as atomic minerals, including beryl and beryllium, niobium, titanium, tantalum and zirconium.
Wage hikes in both information technology and BPO sector is not likely to see any moderation from next year but would continue to grow at the current rate of 12-15 per cent annually, a senior Infosys Technologies official said.
On the fifth day of the trial, the train covered 84 km in 38 minutes between Mathura and Palwal.
Edward Hess, Professor of Business Administration and Batten Executive-in-Residence, Darden School of Business, discusses the growth of technology and the challenges it creates for organizations with Sangeeta Tanwar.
Or it could lose you one, says Samali Basu Guha.
