With the economy giving positive signals, hiring is back. However, so is attrition, with disgruntled employees demanding more or moving to greener pastures to make up for lost time and money.
Accenture's Q1 FY22 results have sent a wave of cheer among analysts, as the company raised its revenue guidance and said it expects double-digit growth in outsourcing, up from single digit to low double-digit growth expected earlier. Accenture's financial year ends on August 31. The company raised its revenue outlook for FY22 to 19-22 per cent in local currency, up from 12-15 per cent earlier.
Good growth in BFSI segment, favourable currency to aid the company in Dec quarter
Experts said this would not only reduce Infosys' dependence on the H1B visa, which has seen increased restrictions under the current US administration. It will also help the company in building an employee pyramid for its future operations.
With globalisation, the demand of third party logistics business, a western concept, is catching up in the country as Indian firms 'which are eager to expand in new markets' are turning towards it for better management of their supply chain processes, the chamber said. 3PL cuts conventional logistics costs and helps tackle more complicated tasks, he said. Currently, the size of the business is estimated at $58 million.
commercial airlines and air navigation service providers have to carry out random drug tests on at least 10 per cent of their flight crew and air traffic controllers every year.
Top Indian information technology companies are recruiting American executives on salaries and bonuses very generous even by American standards, in order to expand in the American market as also to improve efficiency at home, reports said.
NEC Solutions (America) Inc, a provider of integrated solutions for connected enterprises in North America, said on Thursday that it was keen on acquiring business process outsourcing companies in India.
An estimated 40 lakh (4 million) new jobs are likely to be created in India in the next couple of years as a number of foreign firms are set to shift their back-office jobs to the IT-dominated country.
Infosys cautioned global IT corporations that replicating its 'global delivery model' of outsourcing from India would pose challenges to them due to difficulties faced in business model re-engineering and result in lower revenues.
Canada and Mexico emerge as preferred destinations to service clients in the US; east Europe and Nordic nations are favoured alternatives
India's largest software company Tata Consultancy Services is holding discussions with United Utilities to acquire its business process outsourcing arm, Vertex for an estimated $800 million (Rs 3,600 crore).
Niraj Bhatt discovers how a CFO 'without a finance background' made it to the corner office at TCS.
Race for Asia's No. 1 MFI spot: Bandhan now closes in on Grameen Bank
'Cognizant's results indicate that digital related spends can more than offset headwinds in traditional services'
Though there have been no cancellations of contracts by invoking the force majeure clause, a number of clients - especially in the worst-affected sectors like travel and hospitality, oil and gas, as well as manufacturing - have started asking for reducing level of IT support.
The recent ruling by the Authority of Advance Rulings making back-office services provided by a company to global firms taxable under GST, has sent shockwaves through the information technology and business process outsourcing industry.
Availability of jobs at India's auto companies has shrunk significantly over the last two years, as the industry goes through one of its worst slowdowns. More than 60 per cent of the total workforce fell by 24 per cent in 2019-20, against 2017-18.
Industry experts are of the opinion that the spurt in recruitment happened as IT services firms went aggressive on hiring in anticipation of a strong demand environment.
Though a weak dollar will lend some support to revenues and margins in FY21, the demand environment will outweigh any gain.
In 2003, US MNCs employed 344,000 workers in China, up from 252,000 in 2000. They employed 131,000 in India, up from 71,000 in 2000.\n\n
Telephony major Reliance Communications is believed to have short-listed three global IT companies - IBM, EDS and T-Systems - for its $1.5 billion outsourcing contract.
Experts attribute this trend to a combination of end of capital expenditure cycle, increased automation, RIL's preference for time-bound labour contracts, and telecom and retail's outsourced human resource model.
With the world getting more and more instrumented with smart devices, global enterprises are increasingly looking at undertaking a 'digital transformation' journey to stay ahead in the race. Emerging technologies such as social, mobility, analytics and cloud have given birth to new business opportunities and forcing enterprises to finetune their IT buying decisions -- quite differently from what they used to do.
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