News: Race for fresh talent: IT giants in competition with global contenders

#Updates

Race for fresh talent: IT giants in competition with global contenders

In a race for acquiring fresh engineering graduates across campuses, Indian IT companies are adopting an aggressive approach in recruitment drives and competing with their global counterparts. The country’s $60 billion outsourcing sector this year is expected to multiply and expand at a fast pace. All companies are in fierce competition with each other to hire the best talent available among fresh graduates in the employment market for customer projects. According to the companies’ and research estimates, over 200,000 freshers with zero to five months of experience will be hired this year, the most this industry has seen over past five years. The approach is being adopted due to fear of rising salary costs for experienced professionals. Incidentally fresh engineering recruits with less than five months of experience are hired directly from campuses from nearly 70-80% of total new staff hired every year by the tech firms. The remaining 20% are experienced professionals, mostly with 3-5 years experience and poached from opponent firms. There is also a change in the outlook of potential candidates who have started taking more learned decisions before making a choice. Nowadays most prospective candidates do research about the company like its financial performance and stance in the market as compared to earlier where the company’s brand name and positioning was enough. For instance, Infosys’ lower growth than TCS and Cognizant is costing the company top placement slot in some engineering campuses.

In a race for acquiring fresh engineering graduates across campuses, Indian IT companies are adopting an aggressive approach in recruitment drives and competing with their global counterparts. The country’s $60 billion outsourcing sector this year is expected to multiply and expand at a fast pace. All companies are in fierce competition with each other to hire the best talent available among fresh graduates in the employment market for customer projects. According to the companies’ and research estimates, over 200,000 freshers with zero to five months of experience will be hired this year, the most this industry has seen over past five years. The approach is being adopted due to fear of rising salary costs for experienced professionals. Incidentally fresh engineering recruits with less than five months of experience are hired directly from campuses from nearly 70-80% of total new staff hired every year by the tech firms. The remaining 20% are experienced professionals, mostly with 3-5 years experience and poached from opponent firms. There is also a change in the outlook of potential candidates who have started taking more learned decisions before making a choice. Nowadays most prospective candidates do research about the company like its financial performance and stance in the market as compared to earlier where the company’s brand name and positioning was enough. For instance, Infosys’ lower growth than TCS and Cognizant is costing the company top placement slot in some engineering campuses.
We also cannot ignore the influx of foreign counterparts in the IT industry which is now making the Indian companies insecure. Firms like Microsoft, Google, IBM, Capgemini group who are making their presence felt in a big way by offering lucrative packages and benefits to give stiff competition to others.
 

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

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