Expecting a rise in demand, Infosys, the Indian multinational business consulting, technology and outsourcing services provider, is going to keep up its hiring process. Although it did not specify the exact number of graduates it intends to recruit, it has made its intention to hire very clear and known. This augurs well for the IT sector, which has witnessed a noticeable reduction in campus hiring.
Growth has been slow for IT companies in the past few years. Infosys itself experienced high attrition in the last three quarters. The second quarter witnessed 22.2 per cent attrition whereas the first quarter suffered 23 per cent. It had hired only 3800 employees in all of 2018.
There has been a fall in the number of projects, with more clients seeking new skillsets in preparation to go ‘digital’.
But Infosys is now offering a salary in the range of Rs 7 to 8 lakhs to graduates possessing niche skills.
The Company’s three-tiered bridge programme is aimed at encouraging employees to enhance their digital skills. The programme was launched some two quarters ago when fresh graduates possessing niche coding skills were taken on at an annual package ranging between Rs 7–8 lakhs, much higher than the regular compensation of about Rs 3.5 lakh.
But Infosys is not the only company offering higher salaries to digitally knowledgeable employees. Cognizant also offered a skills premium allowance to 40,000 of its employees, up to the managerial level.
Tata Consultancy Services (TCS) has offered an annual salary of Rs 6.5 lakhs to about 1,000 freshers who possess new-age digital skills. This is 50 per cent more than what is usually offered to freshers.