News: HCL Tech plans to hire 20,000 people over the next two quarters

Recruitment

HCL Tech plans to hire 20,000 people over the next two quarters

The hiring comes in order to meet the demand on account of the strong growth in deal signing and adoption of digital services.
HCL Tech plans to hire 20,000 people over the next two quarters

IT services major HCL Technologies is planning to hire about 20,000 people over the next two quarters to meet the demand on account of the strong growth in deal signing and adoption of digital services. The Noida-based company, which crossed the $10 Bn milestone in 2020, had 1,59,682 employees at the end of December 31, 2020.

It saw a gross addition of 12,422 people, while the net addition during the December 2020 quarter was of 6,597 people. Attrition for IT services (on last 12-month basis) was at 10.2 percent.

HCL Technologies President and CEO C Vijayakumar stated, “There was net hiring of over 6,500 people in Q3 (third quarter). There is a big demand pipeline and so, we are continuing to hire both freshers and lateral talent to fulfill the demand. I foresee about 20,000 people to be hired - both freshers and laterals - in the next 4-6 months based on the demand that we have seen."

He added that about 15 percent of these would be for onshore locations or client geographies with the remaining will be offshore.

During the firm’s third-quarter earnings briefing, Vijayakumar revealed that a combination of a strong pipeline and good order booking gave HCL Technologies a lot of optimism about the growth trajectory.

He further added that about 69.8 percent of the company's headcount in the US comprises locals. In the last quarter of localization ratio went up from 67 percent to 70 percent almost. Hence the company’s dependence on visas is low.

Over the past few months, the firm has also invested in setting up facilities in countries like Sri Lanka and Vietnam. In June last year, HCL Technologies started operations in Sri Lanka and said it planned to create over 1,500 local employment opportunities over the next 18 months.

In December, HCL Technologies announced setting up its first delivery center in Vietnam at Hanoi with plans to hire more than 3,000 people over the next three years.

In India, last October, the company implemented salary increments effective October 1, up to E3 levels, and effective January 1, for E4 and above levels, on account of the strong growth momentum.

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Topics: Recruitment, #Hiring

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