News: Hiring increases in India as U.S. demand grows

#Updates

Hiring increases in India as U.S. demand grows

India's top three outsourcing companies, Tata Consultancy Services, Infosys, and Wipro, are ramping up hiring and increasing pay as global corporations, mainly from the U.S., send more work offshore to cut costs as they emerge from the downturn. The employment revival in India's outsourcing sector, which counts on the U.S. for about 60 percent of global sales, comes as unemployment in the U.S. stagnates around 10 percent - near a 26- year high. TCS, Infosys and Wipro, whose clients include leading companies like Goldman Sachs and General Electric as well as U.S. government agencies, can do everything from call center management and claims processing to software development and consulting. After about a year of hiring slowdowns, all three companies are sweetening compensation as the fight to hold on to talented employees in India heats up. As demand for workers revives, employers have begun to worry about rising staff turnover. Employees who sat tight during the downturn have started to shop around for better jobs and better salaries. Infosys offered its Indian employees an average 8 percent pay hike in October, their first raise since April 2008, and executives said last week they are considering another raise to combat rising attrition. Wipro executives said they plan to offer staffers a raise in February. Tata Consultancy Services has paid out 150 percent of performance- linked pay - which normally amounts to 20 to 45 percent of compensation - for the last two quarters, and executives say they will raise salaries next quarter, after a year-long wage freeze.

India's top three outsourcing companies, Tata Consultancy Services, Infosys, and Wipro, are ramping up hiring and increasing pay as global corporations, mainly from the U.S., send more work offshore to cut costs as they emerge from the downturn. The employment revival in India's outsourcing sector, which counts on the U.S. for about 60 percent of global sales, comes as unemployment in the U.S. stagnates around 10 percent - near a 26- year high. TCS, Infosys and Wipro, whose clients include leading companies like Goldman Sachs and General Electric as well as U.S. government agencies, can do everything from call center management and claims processing to software development and consulting. After about a year of hiring slowdowns, all three companies are sweetening compensation as the fight to hold on to talented employees in India heats up. As demand for workers revives, employers have begun to worry about rising staff turnover. Employees who sat tight during the downturn have started to shop around for better jobs and better salaries. Infosys offered its Indian employees an average 8 percent pay hike in October, their first raise since April 2008, and executives said last week they are considering another raise to combat rising attrition. Wipro executives said they plan to offer staffers a raise in February. Tata Consultancy Services has paid out 150 percent of performance- linked pay - which normally amounts to 20 to 45 percent of compensation - for the last two quarters, and executives say they will raise salaries next quarter, after a year-long wage freeze.

Topics: #Updates, #Jobs, Campus Recruitment, Talent Acquisition

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