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Tech giant <keyword id="19906778" type="General" weightage="100" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="153" meta.entityid="Infosys">Infosys</keyword> has been in spotlight for the last few days for delaying onboarding of thousands of freshers for over two years. Pune-based IT employee union <keyword id="20033579" type="General" weightage="20" keywordseo="NITES" source="keywords" meta.keywordsubtype="org" meta.entityname="NITES" meta.hostid="153" meta.entityid="NITES">NITES</keyword> had also filed a complaint with the Ministry of Labour and Employment against the company last week. Now, Infosys is making headlines again but this time, for the right reasons. The company has reportedly sent a confirmation regarding joining date to over 1,000 engineering graduates. Infosys sent emails to these graduates on Monday, confirming that they would start their employment on October 7, 2024. <br /><br /><h2>Infosys sends joining date confirmation to freshers</h2>Thousands of students from the April 2022 batch were left in limbo after participating in two rounds of pre-training in July and August. These students received an offer letter from Infosys two years back, but never got a confirmation about their joining date. Now, as per a report in ET, Infosys has finally given them a date of joining. <br /><br />The report reveals that students got an email from the company's recruiters that says, “Your scheduled date of joining the employment of the Company will be October 07,2024. Your location for employment is MYSORE, India."<br /><br />  <div type="Article" hostid="261" msid="112516510" title="'Work-life balance is a myth’: Photo of man working in front of momo stall goes viral, Internet reacts" mstype="2" mssubtype="0"></div> <br /><br /><h2>Won't hesitate to protest in front of offices: Nites president</h2>The report added that Harpreet Singh Saluja, president of the <keyword id="20025930" type="General" weightage="20" keywordseo="nascent-information-technology-employees" source="keywords">Nascent Information Technology Employees</keyword> Senate (NITES), reacted to the news.<br /><br />“I am thrilled to announce that after relentless efforts and a formal complaint by Nascent Information Technology Employees Senate (NITES), Infosys has finally issued appointment letters to more than 1,000 (still counting) campus hires today. These young engineers, who have been waiting for nearly two years, now have a confirmed joining date of October 7, 2024. This is a huge win for NITES and all the students who stood strong in the face of uncertainty and delay,” he said  and added that they won't hesitate to protest in front of the company's offices if there is a breach in joining date. <br /><br />"We remain vigilant... if Infosys fails to honor this commitment and breaches the joining date, we will not hesitate to organize a protest right in front of the Infosys office," he said. <br /><br />The delay in onboarding has affected around 2,000 engineering graduates from the 2022 batch, who received offer letters for system engineer and digital system engineer roles, with annual packages ranging from Rs 3.2-3.7 lakh. Many of these students have faced prolonged joblessness and anxiety as they waited for their joining dates.<br /><br /><h2>Infosys CEO reassures students</h2>Meanwhile, Infosys CEO <keyword id="20115570" type="General" weightage="20" keywordseo="Salil-Parekh" source="keywords">Salil Parekh</keyword> recently reassured graduates that the company would honor all job offers, despite delays in the onboarding process. Parekh had confirmed that while some joining dates had been adjusted, every candidate who received an offer would still become a part of Infosys.<br /><br />In a statement to PTI, he was quoted saying, "Every offer that we have given, that offer will be honored, and those individuals will join Infosys. We have adjusted some dates, but beyond that, there is no change in our approach."<br /><br /><strong>SEE ALSO: </strong><br /><a href="https://www.businessinsider.in/tech/news/everyone-will-join-there-is-no-change-infosys-ceo-after-delaying-joining-of-2000-freshers-for-over-two-years/articleshow/112835755.cms" data-type="tilCustomLink" target="_blank" style=""><strong>Everyone will join, there is no change: Infosys CEO after delaying joining of 2,000 freshers for over two years</strong></a><br /><a href="https://www.businessinsider.in/tech/news/infosys-delays-onboarding-of-200-graduates-for-more-than-2-years-nites-files-complaint/articleshow/112669758.cms" data-type="tilCustomLink" target="_blank"><strong>Infosys delays onboarding of 2,000 graduates for more than 2 years, NITES files complaint</strong></a><br />

Will protest in front of Infosys office if date is breached: Nites president as 1,000 freshers get joining date

Last week, tech giant <keyword id="19906778" type="General" weightage="100" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="153" meta.entityid="Infosys">Infosys</keyword> was making headlines for delaying onboarding of thousands of freshers for more than two years. It was reported that freshers had been awaiting onboarding since 2022 but nothing was happening on that front. The Nascent Information Technology Employees Senate (<keyword id="20033579" type="General" weightage="20" keywordseo="NITES" source="keywords" meta.keywordsubtype="org" meta.entityname="NITES" meta.hostid="153" meta.entityid="NITES">NITES</keyword>) even filed a formal complaint against the company. Now, <keyword id="21949326" type="General" weightage="20" keywordseo="Infosys-CEO" source="keywords">Infosys CEO</keyword> Salil Parekh has said that everyone with a job offer will be a part of the company even though there are “delays.”<br /> <h2>Infosys CEO reassures graduates</h2> Infosys has confirmed its commitment to honour all <keyword id="20345755" type="General" weightage="20" keywordseo="offers" source="keywords">offers</keyword> extended to fresh engineering graduates, despite ongoing delays in the onboarding process. CEO Salil Parekh recently addressed concerns that have been brewing among thousands of freshers, saying that while some joining dates have been adjusted, every candidate who received an offer will join the company.<br /><br /> In a statement, Parekh told PTI, "Every offer that we have given, that offer will be honored, and those individuals will join Infosys. We have adjusted some dates, but beyond that, there is no change in our approach."<br /><br /> According to a CNBC report, Parekh also said that the rising interest in Generative AI (GenAI) among clients is a positive sign for future growth. He added that while GenAI is driving significant change within the industry, it will not lead to layoffs at Infosys, a point of distinction compared to trends seen at other tech firms.<br /><br /><div type="Article" hostid="261" msid="112669758" title="Infosys delays onboarding of 2,000 graduates for more than 2 years, NITES files complaint" mstype="2" mssubtype="0"></div><br /><br /> Parekh’s reassurances come in response to growing unrest among freshers from the 2022 batch, many of whom have been waiting for nearly two years to start their careers at Infosys. <br /><br /> <b><h2>What is happening with Infosys hiring?</h2></b> For the unversed, the Nascent Information Technology Employees Senate (NITES), a Pune-based IT employee union, recently filed a formal complaint with the Ministry of Labour and Employment, accusing Infosys of delaying the onboarding of over 2,000 engineering graduates. These graduates were selected for roles such as system engineers and digital specialist engineers during the company’s 2022-23 recruitment drive.<br /><br /> According to NITES, the affected graduates received their offer letters as early as April 2022 but have since faced continuous delays, unpaid pre-training programs, and additional assessments that were not initially communicated. Despite fulfilling all the requirements, these professionals have been left in limbo, unable to begin their careers.<br /><br /><strong>SEE ALSO: <a href="https://www.businessinsider.in/careers/news/work-life-balance-is-a-myth-photo-of-man-working-in-front-of-momo-stall-goes-viral-internet-reacts/articleshow/112516510.cms" data-type="tilCustomLink" target="_blank">'Work-life balance is a myth’: Photo of man working in front of momo stall goes viral, Internet reacts</a><br /></strong><a href="https://www.businessinsider.in/tech/article/arrange-or-love-marriage-debate-is-passe-people-are-now-marrying-their-ai-partners/articleshow/112522764.cms" data-type="tilCustomLink" target="_blank"><strong>Arrange or love marriage debate is passe, people are now marrying their AI partners</strong></a><br />

Everyone will join, there is no change: Infosys CEO after delaying joining of 2,000 freshers for over two years

<p>It's impossible to talk about workforce innovation without addressing artificial intelligence.</p><p>During a virtual roundtable, we asked Business Insider's <a target="_blank" class="" href="https://www.businessinsider.com/workforce-innovation-board-tackles-topics-such-as-c-suite-innovation-ai-worker-wellness-2024-8">Workforce Innovation board</a> to tell us how AI would transform companies over the next year.</p><p>One major topic was reskilling and upskilling employees. BI's Tim Paradis, who focuses on the future of work, asked whether there were any fears that <a target="_blank" class="" href="https://www.businessinsider.com/vinod-khosla-universal-basic-income-ai-job-loss-2024-9">dire predictions of AI</a> outpacing human capabilities to learn, like those advanced in a recent article by Sun Microsystems cofounder <a target="_blank" class="" href="https://www.khoslaventures.com/ai-dystopia-or-utopia/">Vinod Khosla</a>, would prove true.</p><p>"The basic drivers of job creation will change with a technology that does not only augment human capabilities, but also may surpass them altogether," Khosla wrote, "leaving education and upskilling — a historical avenue for retraining and relevance — somewhat impotent."</p><p>Board members rejected the grim prognostication.</p><p>"I disagree with that statement," said Justina Nixon-Saintil, IBM's vice president and chief impact officer, though she agreed that AI would exacerbate the digital divide.</p><p>"We made a commitment to scale 2 million people in AI by 2026," Nixon-Saintil said. "There's a sense of urgency in making sure we are not leaving people behind."</p><p>AARP's Marjorie Powell argued that the global labor shortage was evidence of an enduring need for human workers but that no one can afford to be complacent. "You're going to have to relearn how to do your job," Powell said.</p><p>Others described the importance of communicating clearly with workers about what AI means for their jobs now and in the future.</p><p>"We're trying to figure out how this transformation is going to occur," said Chris Deri, the president of the corporate advisory businesses at Weber Shandwick. "There has to be transparent communications and stakeholder engagement alongside figuring out these enterprise and strategic matters."</p><p><em>The following has been edited for length and clarity.</em></p><h3 id="4a721470-9d79-4540-a871-62ad779b2870"><strong>How will the most innovative companies be transformed by AI over the next 12 months?</strong></h3><h2 id="58f968af-3acb-493b-870e-b8d2bf021db1"><strong>Justina Nixon-Saintil, vice president and chief impact officer, IBM</strong></h2><h3 id="a436d836-8481-4230-8a70-68bd3cfe6353">"Any tasks or jobs in the company that could be automated by AI will happen within the next year."</h3><p>A lot is going to change. Any tasks or jobs in the company that could be automated by AI will happen within the next year. For any jobs that cannot be automated, workers will need to understand how to work alongside AI.</p><p>You need to understand what AI means for your role, how to use it to <a target="_blank" class="" href="https://www.businessinsider.com/how-use-ai-save-time-work-best-ways-use-chatgpt-2024-9">increase productivity or efficiency</a>, and how to create new products and solutions leveraging AI. That's going to be the big shift, and here we actually continue to upskill our employees to prepare for that shift.</p><p>Last year, we had an AI challenge across the company, and a huge percentage of our employees participated. They had to get training first, and then they were part of a team to come up with innovative solutions leveraging AI. We did it again this summer. So the company is very focused on how to upskill all employees, because it's going to impact every role in the company.</p><h2 id="82ccd740-f6d2-4536-8e3d-54d9f225dac0"><strong>Anant Adya, EVP, service offering head, and head of Americas delivery, Infosys</strong></h2><h3 id="66cbaa75-725e-4e65-880c-285d5d102e74">"How can we eat our own dog food right before we start telling customers to adopt AI?"</h3><p>We have two objectives. One is to become an AI-first enterprise. The first task is to see how we can start using AI in everything we do, whether it's in our claims or travel expenses, procurement, or handling invoices.</p><p>Our philosophy is very simple. AI is not about replacing an individual or replacing an employee but how we can amplify our productivity by using the tools. How can we eat our own dog food right before we start telling customers to adopt AI?</p><p>Second is that for all the offerings that we have today, we want to make sure we infuse AI into them. When we go and talk to our customers about task-level automation, coding or developing an application, or migrating a workload into the cloud — how can we infuse AI into everything that we do? So it doesn't just become a people-based offering but a people-plus-AI-based offering.</p><h2 id="961badc0-cb06-4d47-9329-ac1f1b2d70dd"><strong>Marjorie Powell, chief HR officer and senior vice president, AARP</strong></h2><h3 id="0aee923e-e647-43c9-bf57-4c2ecc03a872">"It's important that everyone learns how to deal with prompt engineering; we are not going to hire prompt engineers."</h3><p>We believe there's going to be a greater emphasis on <a target="_blank" class="" href="https://www.businessinsider.com/ai-will-change-most-jobs-employers-help-workers-keep-up-2024-8">upskilling and reskilling</a> alongside AI technologies.</p><p>It's important that everyone learns how to deal with prompt engineering; we are not going to hire prompt engineers. It's going to become a skill for employees to craft clear and specific prompts, adjust to the right audience, and utilize elements and problem-solving skills to identify inaccurate responses.</p><p>It's about adaptability. Employees are going to have to be open to continuous learning and adapting to new AI tools and technologies in their jobs. So we make sure we're providing some kind of atmosphere and culture for being excited and energetic about learning.</p><p>The workforce will have to problem-solve regardless of the tool and the technology, and it will require test-and-learn approaches. We created a "community of practice" in the company where individuals can join and help with peer learning and have a sandbox to play around with AI, depending on where they are.</p><p>They can cross-pollinate across business-unit lines, and that has become very exciting. We also use that group to pilot the new technologies we're considering rolling out to the company.</p><p>Data literacy is going to be very important — understanding how to read and interpret and tell a story of the data.</p><p>We're also developing power users in the company, people who are really, really good at this that other employees can tap into when they need help.</p><h2 id="0ef1d87b-57f3-4474-bfdc-21c4f4fc1b74"><strong>Alicia Pittman, global people team chair, Boston Consulting Group</strong></h2><h3 id="dd47519b-c973-4a00-b508-f05159afdea8">"Gen AI also offers an opportunity to avoid leakage of human capital, which obviously we all care quite a lot about."</h3><p>We have 35,000 employees, and north of 70% are active users of <a target="_blank" class="" href="https://www.businessinsider.com/companies-using-ai-bain-survey-roi-2024-6">generative AI</a> now. We've taken a full-company approach of upskilling and rolling out both custom and off-the-shelf tools, regardless of the job.</p><p>The bottom-up innovation power of gen AI is super exciting. For example, our teams and employees have created more than a thousand custom GPTs, mini automation machines, to-do scripts, and dashboards to create bespoke analyses and build newsletters — it's super quick, and it doesn't require big investments or processes.</p><p>That's one thing that's specific to gen AI versus other types of technology innovation — it's sparking a lot of energy and unlocking human capacity.</p><p>Gen AI also offers an opportunity to avoid leakage of human capital, which obviously we all care quite a lot about. It really changes the game in terms of the amount of learning you can keep within the team and not lose as people move around.</p><p>We're also seeing how gen AI is creating an exoskeleton for generalists to be able to take on more technical tasks. It's not going to turn a generalist analyst into an expert coder, but actually our analysis would show that they can get 80%-plus there on some coding tasks, which then you still need the expert coder to do quality control.</p><h2 id="d130e1cc-4600-48d2-941b-e5e5b1eddc1f"><strong>Maggie Hulce, chief revenue officer, Indeed</strong></h2><h3 id="d4c2bf89-e522-4f0d-bbff-d8d4f916c1e1">"Do I have to build this huge team of AI engineers? The answer is no."</h3><p>We're trying to infuse AI in all our externally facing products and solutions to make them more insightful, intuitive, and delightful to use — and, in many ways, to create experiences that mimic what a personalized human experience might be like, but at scale.</p><p>We also see most roles and workflows becoming augmented with AI. That's becoming more and more obvious as the months go on and as teams engage with AI and find applications and new ways of working.</p><p>I was at Dreamforce recently in San Francisco. What Salesforce <a target="_blank" class="" href="https://www.salesforce.com/news/press-releases/2024/09/17/google-autonomous-agent-partnership/">unveiled</a> was how it wants to help companies essentially launch AI agents in sales, <a target="_blank" class="" href="https://www.businessinsider.com/verizon-is-using-generative-ai-to-streamline-business-relationships-2024-7">customer service</a>, marketing, and commerce.</p><p>For many companies to get the full power of what AI can do, you have to be able to link up lots of different datasets that are usually in disparate places. It's hard work, and it's very time-consuming. To hear the stories of companies being like, "Guess what, you don't actually have to move that data around anymore," this is going to change how a lot of companies experiment and start to play with AI-oriented applications that will fundamentally change their operations.</p><p>There are a lot of companies out there that have already started to light it up. We're thinking a lot about how sales, customer service, marketing, and product have operated for a long time in various silos. When you think about customer experiences, they really shouldn't be that way. They should be much more integrated than they are today. Some of these technologies can be part of the accelerants for how customer experiences can be reimagined.</p><p>Part of what's been hard for people is like, "OK, but do I have to get all of these disparate parts of my company to all work together in a new way? Do I have to build this huge team of AI engineers?" The answer is no. You don't have to be the tip of the spear in terms of sophistication.</p><h2 id="8b49bd10-b04d-4857-afbc-b2979d5711e9"><strong>Kenon Chen, executive vice president of strategy and growth, Clear Capital</strong></h2><h3 id="550eee1b-ffef-4a90-bbea-a94d7a6ba7a2">"As AI accelerates, you also have to accelerate the handling of data in a way that can produce accurate models."</h3><p>At Clear Capital, we participate in the highly regulated housing-finance industry. To enable AI to be used in accordance with our clients' expectations of governance and quality control, we've taken a three-pronged approach.</p><p>First, we've been investing in creating good industry standards and working with the industry to ensure there's agreement on how AI models should be tested, how they ensure compliance with antidiscrimination and fairness practices, and how the data should be handled.</p><p>Second, we've been investing a lot in higher-quality data. As AI accelerates, you also have to accelerate the handling of data in a way that can produce accurate models. So we've invested quite a bit in better digitization and generation of data.</p><p>Third is fostering collaboration between innovators, industry players, policymakers, and regulators. We participated this year in the Federal Housing Finance Agency's generative-AI tech sprint, where about 80 leaders from different aspects of the housing industry brainstormed ways to apply generative AI to the lending process to improve borrowers' experience.</p><p>One thing that became clear after participating in that was where we have more tools and more capabilities to accelerate. We always have to go back to the why: What is the mission? And we have to make the mission at the company level that much more clear so that as we apply these new tools, it's always for the sake of the mission.</p><h2 id="5e045b5f-3490-4435-8321-bab58740eaa8"><strong>Chris Deri, president, corporate advisory businesses, The Weber Shandwick Collective</strong></h2><h3 id="79930c20-445b-4959-b644-53f07e252292">"There's a mega-trend need for all of us to adopt AI and understand it, but that means something different for different parts of our organization."</h3><p>We're a public-relations firm, so we're looking at AI for ourselves and for our clients.</p><p>In terms of our own people, one lesson we've already learned is that there was an instinct to take a top-down approach, as in everybody's got to figure out how AI is going to change their business, but we need to take a bottom-up approach.</p><p>In the simplest sense, we do consumer marketing, healthcare marketing, and corporate advisory work. We really need to design training for each of the different practitioner types.</p><p>There's a mega-trend need for all of us to adopt AI and understand it, but that means something different for different parts of our organization.</p><p>Another thing we're doing is creating a futuristic think-tank group in our company — three or four people who have been putting together an ecosystem to give us constant learning. We also have academic institutions, investors, technologists, and other practitioners to help.</p><p>We're also looking at our business model and how we budget and scope. The classic assignment we get is companies call us and say, "We want to map our stakeholders and what their expectations are of us." That used to be a project that we would figure out with just consultant time. Now we're applying AI to do some of that.</p><p>We need to figure out how to take advantage of those efficiencies to add new value — that human value. So we need to relook at our entire business and service model, and we haven't figured it all out yet.</p><p>Anant talked about "eating your own dog food." We've mapped out the implementation of that stack for ourselves to test and learn, and then we will start to use that in how we show up as advisors to our clients on the same journey.</p><h2 id="3bf33684-0da6-43af-856a-e0d807c42725"><strong>Sharawn Tipton, chief people and culture officer, LiveRamp</strong></h2><h3 id="2513253b-1145-4ac9-afad-cb752e1513d8">"What we're trying to do is really keep people at the center of this transformation."</h3><p>We're thinking a lot about the AI trust gap. I'm in San Francisco today, and I was walking around and I saw all these autonomous vehicles, and it dawned on me that my mother would never ride in one. She just does not trust that technology.</p><p>As a data company, we're thinking a lot about how do we ensure that our customers, our clients, and our partners trust that we're going to protect their data and use AI when appropriate and be certain that we have safeguards for when it isn't appropriate. And then I think the biggest area that my team is focused on with this trust gap is job security and what this means for the average worker.</p><p>So what we're trying to do is really keep people at the center of this transformation. We're thinking a lot about employee resource groups. That way we've been able to reach all different types of team members. So how do we target our ERGs and think about who are the slow adapters? Who are the folks that typically get left behind, and how do we give them a little extra push?</p><p>What we want to do is think about how to continue to have our team members trust their leaders, but also trust AI and where we're going, and get them to understand this isn't about replacing jobs. We are really focused on transforming jobs. That is a huge shift and a huge opportunity for us.</p><h2 id="c0d7e4c7-96a5-41d7-8c3f-29dee443e291"><strong>Shane Koller, senior vice president and chief people officer, Ancestry</strong></h2><h3 id="2fb41060-9718-4c06-940a-5ac8246457b5">"The more people we get thinking about governance, the better AI technology will be used."</h3><p>There are a lot of different points of view on what AI will and will not do and how quickly.</p><p>I was reading an article in The Wall Street Journal over the weekend that said for every one person who believes that AI is going to replace everyone's jobs, there are three or four who think there's going to be this boom in AI and then it's going to settle down. And that the promise we think AI is going to deliver will probably take longer than we think to come to fruition.</p><p>One of the things that we've been doing at Ancestry very intentionally is bringing up the subject of governance, because I think we all think of AI as this steamroller that's going to come and either we're going to step aside from it or we're going to get steamrolled.</p><p>The more people we get thinking about governance, the better AI technology will be used. And I say that within Ancestry as well as within companies in general and within governments. We have more of a role to play in how this rolls out than we think.</p><p>We've been building AI into our product for over 10 years now, and we've been giving more thought to how would we govern the use of AI within our own company so that we're not, for example, putting our customers' data at risk. We're very conscious that security and privacy is first and foremost in every discussion. It's really about how you govern such an amazing technology.</p>

Leaders from BCG, Infosys, AARP, and more predict how AI will transform top companies in the next 12 months

<ul><li><keyword id="19906778" type="General" weightage="100" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword> has delayed hiring of 2000 young professionals</li><li><keyword id="20033579" type="General" weightage="20" keywordseo="NITES" source="keywords" meta.keywordsubtype="org" meta.entityname="NITES" meta.hostid="261" meta.entityid="NITES">NITES</keyword> has filed a complaint in the matter</li><li>Infosys is also making headlines for its new Power Programme</li></ul><br />The Nascent Information Technology Employees Senate (NITES), a Pune-based <keyword id="22859482" type="General" weightage="20" keywordseo="IT-employee-union" source="keywords">IT employee union</keyword>, has filed a formal complaint with the Ministry of Labour and Employment against Infosys. The union alleges that Infosys has delayed the <keyword id="22570539" type="General" weightage="20" keywordseo="onboarding-process" source="keywords">onboarding process</keyword> for around 2,000 <keyword id="22859483" type="General" weightage="20" keywordseo="fresh-engineering-graduates" source="keywords">fresh engineering graduates</keyword> for over two years, leaving them in a state of uncertainty and distress.<br /><br /><h2>Infosys delayed freshers' onboarding for more than two years</h2>According to NITES, these graduates were selected for roles such as system engineer and digital specialist engineer as early as April 2022. Despite receiving offer letters, the onboarding process has been repeatedly postponed. The affected graduates were required to participate in unpaid pre-training programs and undergo additional, unexpected assessments, further complicating their entry into the workforce.<br /><br />NITES claims that despite fulfilling all the prerequisites set by Infosys, these young professionals have been kept in limbo, leading to significant frustration and anxiety. The union views this situation as a serious breach of trust by Infosys, which has long been regarded as one of the pillars of India’s IT industry.<br /><br />Harpreet Singh Saluja, President of NITES, expressed deep concern over the situation, emphasizing the broader implications for the Indian IT sector.<br /><br />“We believe that this is not just a breach of trust by one of India’s largest IT companies, but also a significant issue that impacts the future of our country’s <keyword id="22360158" type="General" weightage="20" keywordseo="IT-workforce" source="keywords">IT workforce</keyword> and economy. We are calling on the government to take immediate and strict action against Infosys to ensure that such exploitative practices are halted and that the rights of these young professionals are protected,” Saluja said, according to a report by The Economic Times. <br /><br />The complaint filed by NITES highlights that even after long delays, the graduates were asked to participate in an unpaid virtual pre-training program from July 1 to July 24, 2024. They were promised final joining dates of either August 19 or September 2, 2024. However, despite completing the training, they were informed that they would need to retake the exam offline, once again without pay. This has only added to their frustration and uncertainty about their future with the company.<br /><br /><h2>Infosys’ Power Programme</h2>In a contrasting development, Infosys is also making headlines for its recent campus placement drive, where it has introduced a new 'power programme.'<br /> <br />According to a report by The Times of India, the company is offering pay packages of up to Rs 9 lakh per annum to select colleges, a significant increase from its standard entry-level packages, which typically range from Rs 3-3.5 lakh. This move is seen as part of Infosys’ strategy to attract highly specialized talent in areas such as coding, software development, cloud computing, AI/ML, and cybersecurity.<br /><br />Infosys plans to hire between 15,000 and 20,000 graduates in FY25. During its earnings call last month, Infosys announced plans to resume campus placements and off-campus fresher hiring in the current fiscal year. The top four IT firms in India are expected to collectively add about 82,000 freshers in FY25. Among them, HCLTech and <keyword id="19945574" type="General" weightage="20" keywordseo="wipro" source="keywords">Wipro</keyword> plan to hire 10,000 and up to 12,000 freshers, respectively.<br /><br /><strong>SEE ALSO: <a href="https://www.businessinsider.in/careers/news/work-life-balance-is-a-myth-photo-of-man-working-in-front-of-momo-stall-goes-viral-internet-reacts/articleshow/112516510.cms" data-type="tilCustomLink" target="_blank">'Work-life balance is a myth’: Photo of man working in front of momo stall goes viral, Internet reacts</a><br /></strong><a href="https://www.businessinsider.in/tech/article/arrange-or-love-marriage-debate-is-passe-people-are-now-marrying-their-ai-partners/articleshow/112522764.cms" data-type="tilCustomLink" target="_blank"><strong>Arrange or love marriage debate is passe, people are now marrying their AI partners</strong></a><br />

Infosys delays onboarding of 2,000 graduates for more than 2 years, NITES files complaint

<keyword id="19982504" type="General" weightage="20" keywordseo="IIT-Bombay" source="keywords" meta.keywordsubtype="org" meta.entityname="IIT Bombay" meta.hostid="261" meta.entityid="IIT Bombay">IIT Bombay</keyword> is one of the top choices for recruiters and every year, many graduates from the institution get lucrative <keyword id="19897127" type="General" weightage="20" keywordseo="job-offers" source="keywords">job offers</keyword> that make headlines. The 2023-2024 placement season at the institution just came to a close and a detailed report of the same is available on IIT Bombay's website. As per the report, around 75 percent candidates got a job offer this time.<br /><br /><em>"The placement sea</em><em>son was successfully completed with three out of four students securing desired job profiles despite the challenging job scenario. The total recruited Ph.D. students are 32 out of 118 active participants. Considering the total number of participating students, the placement percentage is nearly 75%. Most of the remaining unplaced students have identified avenues to be gainfully employed. Some of the unplaced students prefer higher studies, self-employment, or entrepreneurship over the jobs being offered to them. Almost all of the participating companies have honored their job offers," </em>the report said.<br /><br />However, the lowest salary being offered to students this year is making headlines as it dropped to 4 LPA this year.<br />Let us take a look at some of the highlights of the <keyword id="23022543" type="General" weightage="20" keywordseo="2024-placements" source="keywords">2024 placements</keyword> in IIT Bombay, including the highest salary packages, <keyword id="23022544" type="General" weightage="20" keywordseo="top-recruiters" source="keywords">top recruiters</keyword>, and an overview of student placements and internships.<br /><br /><h2><keyword id="23018452" type="General" weightage="100" keywordseo="IIT-Bombay-2024-placements" source="Orion">IIT Bombay 2024 placements</keyword>: Highest salary</h2>One of the standout features of this year’s placements was the 22 job offers exceeding INR 1 crore per annum, reflecting demand for specialised skills in certain sectors. Additionally, 78 students accepted international offers, indicating the global opportunities accessible to IIT Bombay graduates.<br /><br /><h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px rgb(255, 255, 255); text-rendering: optimizelegibility;">IIT Bombay 2024 placements: Average salaries</h2>The overall average annual CTC (Cost to Company) offered during the 2023-2024 placement season was Rs 23.50 LPA (Lakhs Per Annum), marking a 7.7% increase from the previous year’s average of Rs 21.82 LPA. The median salary stood at Rs 17.92 LPA, underscoring the consistent demand for graduates across various sectors. These numbers are a testament to the robust job market that IIT Bombay students enter upon graduation.<br /><br /><div type="Article" hostid="261" msid="109184947" title="Fresher hiring sees a significant decline, particularly in IT sector! What should you do?" mstype="2" mssubtype="0"></div><br /><h2>IIT Bombay 2024 placements: Lowest salaries</h2>While the focus often falls on the highest salaries, it’s important to note that there were also offers at the lower end of the spectrum. As mentioned already, the lowest salary offers during the 2023-2024 placements fell within the Rs 4 LPA to Rs 6 LPA range this year. Earlier, the lowest salary offered to students used to be 6 LPA.<br />As per reports, 10 students accepted offers that fell within this range. These figures are more common in sectors such as education and design, where entry-level salaries tend to be modest compared to other fields.<br /><br /><h2>IIT Bombay 2024 placements: Number of students who got jobs </h2>Out of the 2,414 students who registered for placements, 1,475 students secured job offers, bringing the placement rate to 74.53%. The placement drive saw participation from 364 companies, with 1,650 job offers being made. In addition to full-time roles, internships also played a crucial part in student preparation and employment. A total of 1,267 internship offers were made, including 1,177 from companies and 90 from universities, reflecting a 13% increase in internship opportunities compared to the previous year.<br /><br /><h2>IIT Bombay 2024 placements: Top recruiters</h2>This year, the Engineering and Technology sector emerged as the top recruiter, with 430 students being hired by 106 companies. The IT and Software sector followed closely, offering 307 job positions. Finance, Consulting, and Research &amp; Development were also prominent, with significant hiring across these domains. Major companies participating in the placements included top Indian and multinational firms.<br /><br /><h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">IIT Bombay 2024 placements: Pre-Placement offers</h2>Pre-placement offers (PPOs) continued to be a vital aspect of the placement process at IIT Bombay. In the 2023-2024 placement season, students received 300 PPOs, of which 258 were accepted. These offers were largely made after the completion of summer internships, highlighting the importance of these internships in securing full-time positions.<br /><br /><h2>Comparison of the number of students placed in the last four years</h2>IIT Bombay has seen lesser student placement numbers over when compared to last year. However, when we look at the last four years, the numbers have been stable. In the 2020-2021 season, 1,150 students were placed, which rose to 1,441 in 2021-2022. The peak was reached in 2022-2023 with 1,516 placements, while this year saw a slight decrease to 1,475.<br /><br />This slight dip from last year’s record high can be attributed to the challenging global economic conditions.<br /><br /><h2>Number of offers from different programs</h2>Different academic programs at IIT Bombay saw varying levels of placement success. The B.Tech program led the way with 683 placements, followed by the M.Tech program with 415 placements. The Dual Degree (B.Tech + M.Tech) program saw 152 students placed, while other programs such as M.Sc., M.Des, and Ph.D. had varying placement numbers, reflecting the diverse opportunities available across disciplines.<br /><br /><h2>International opportunities</h2>This year’s placement season also highlighted a significant rise in the number of international offers, with students receiving opportunities in countries like Japan, Taiwan, Europe, the UAE, Singapore, and the USA. 78 international job offers were made to students this year, whcih is an increase when compared to 65 offers last year. Additionally, the number of companies participating in the placements grew by 12%, indicating steady interest from employers.<br /><br /><strong>SEE ALSO: <br /></strong><a href="https://www.businessinsider.in/business/news/will-protest-in-front-of-infosys-office-if-date-is-breached-nites-president-as-1000-freshers-get-joining-date/articleshow/112913256.cms" data-type="tilCustomLink" target="_blank"></a><strong><a href="https://www.businessinsider.in/business/news/swiggy-co-founder-reveals-the-company-had-0-orders-on-day-1-now-it-has-over-3-lakh-partners/articleshow/112884424.cms" data-type="tilCustomLink" target="_blank">Swiggy co-founder reveals the company had 0 orders on day 1, now it has over 3 lakh partners</a><br />Will protest in front of Infosys office if date is breached: Nites president as 1,000 freshers get joining date</strong><br />

IIT Bombay 2024 placements: Lowest salary drops to Rs 4 LPA, 22 students get Rs 1 crore package

<ul><li><strong>Other than IT, telecom and healthcare sectors also witnessed a notable decline in hiring in October this year as compared to last year.<br /></strong></li><li><strong>The insurance sector saw a phenomenal year-on-year growth in hiring at 93% this <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword>.<br /></strong></li><li><strong>The growth graph for hiring in the national capital was found to be flat as compared to last year.</strong></li></ul>The slowdown is real in India’s information technology industry. The sector, which created the maximum jobs over the last two years, is seeing a hiring slowdown now. According to the <keyword id="15405162" type="General" weightage="20" keywordseo="Naukri-Jobspeak-index-report" source="Orion">Naukri Jobspeak index report</keyword>, hiring was down 18% this festive season in October as compared to last year.<br /><br />Bangalore, the IT hub of India saw the maximum drop in hiring at 16% in the <keyword id="46964" type="General" weightage="20" keywordseo="IT-sector" source="Orion">IT sector</keyword> this October, as compared to the same month last year. A similar trend was seen in Hyderabad (12%) and Pune (11%) during the same period.<br /><br />IT majors in India have cut down in hiring by at least <a href="https://www.businessinsider.in/business/news/amid-risks-of-a-slowdown-these-it-companies-are-best-placed-to-survive-the-storm/articleshow/95228871.cms">57% in the second quarter</a>. Wipro reported the maximum cut of 95%, followed by <keyword id="6357150" type="General" weightage="80" keywordseo="tcs" source="Orion">TCS</keyword> at 58%. This is in spite of the fact that attrition in the IT industry is high. <keyword id="6354512" type="General" weightage="80" keywordseo="infosys" source="Orion">Infosys</keyword> and HCL Tech witnessed the highest attrition rates at 27% and 23% respectively.<br /><cmsannotation type="cmsannotation" annotationid="Telecom, healthcare hiring slowed down too" comment="subhead" text="Telecom, healthcare hiring slowed down too"><span data-til="noop">Telecom, healthcare hiring slowed down too</span></cmsannotation><br />Other than IT, telecom and healthcare sectors also witnessed a notable decline in hiring sentiments by 19% and 13% respectively in October this year as compared to last year. <br /><br />“The temporary deceleration in hiring activity was expected given the festive season, however when you compare the data with last year’s festive window (Nov’21), the Index is a healthy 13% ahead which is reassuring,” said <keyword id="2554121" type="General" weightage="80" keywordseo="pawan-goyal" source="Orion">Pawan Goyal</keyword>, chief business officer, Naukri.com.<br /><br />In comparison, the insurance sector in India saw a phenomenal year-on-year growth in hiring at 93% this festive season. BFSI, oil, travel and hospitality, real estate and auto are some of the other sectors which continued to show upward hiring trends this season.<br /><br />“It is also interesting to note that most key industries maintained hiring expansion during this month which is likely to only get stronger as year-end approaches,” Goyal added.<br /><cmsannotation type="cmsannotation" annotationid="Delhi stayed flat in hiring" comment="subhead" text="Delhi stayed flat in hiring"><span data-til="noop">Delhi stayed flat in hiring</span></cmsannotation><br />The growth graph for hiring activity in the national capital was found to be flat this festive season as compared to last year’s. Whereas, other metros like Mumbai and Kolkata continued to grow by 8% and 15% respectively.<br /><br />Amongst non-metros, cities like Jaipur, Kochi, Vadodara, and Coimbatore saw an uptick in demand for white collared professionals, says the report.<br /><br />While demand across experienced professionals stayed neutral in October this year, senior professionals with over 13 years of experience saw an uptick in demand growing by 6% over last year. <br /><br />Meanwhile, demand for freshers stayed flat and demand for mid-level professionals (4-12 years) declined by 4%.<br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/amid-risks-of-a-slowdown-these-it-companies-are-best-placed-to-survive-the-storm/articleshow/95228871.cms">Amid risks of a slowdown, these IT companies are best placed to survive the storm</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/more-indians-are-interested-in-buying-products-have-a-dating-experience-in-the-metaverse-report/articleshow/95232293.cms">More Indians are interested in buying products, have a dating experience in the Metaverse: Report</a></strong> <br />

Hiring slowed down in the IT sector this festive season: Report

<ul><li><strong>For those who will be leaving <keyword id="155484" type="General" weightage="100" keywordseo="salesforce" source="Orion">Salesforce</keyword>, they will be offered "a generous package".</strong></li><li><strong>In the US, affected employees will receive a minimum of nearly five months of pay, health insurance, career resources.</strong></li><li><strong>The company had 73,541 people on its payroll in early 2022.</strong></li></ul><br />Enterprise software company Salesforce has announced to lay off 10 per cent of its workforce, impacting more than 7,000 employees.<br /><br />In a letter to employees, Salesforce CEO <keyword id="361584" type="General" weightage="50" keywordseo="marc-benioff" source="Orion">Marc Benioff</keyword> said that the environment remains "challenging" and our customers are taking a more measured approach to their purchasing decisions.<br /><br />"With this in mind, we've made the very difficult decision to reduce our workforce by about 10 percent, mostly over the coming weeks," <keyword id="3531279" type="General" weightage="80" keywordseo="benioff" source="Orion">Benioff</keyword> wrote.<br /><br />Last month, Benioff said that those who were hired by the company during the Covid pandemic are "facing lower productivity".<br /><br />In the letter to employees late on Wednesday, he said as the revenue accelerated through the pandemic, "we hired too many people leading into this economic downturn we're now facing, and I take responsibility for that".<br /><br />"Within the next hour, employees who are initially affected by this decision will receive an email letting them know. Our leadership will reach out directly to these employees, and provide clarity for their teams about changes within their organisations," Benioff wrote.<br /><br />For those who will be leaving Salesforce, they will be offered "a generous package".<br /><br />In the US, affected employees will receive a minimum of nearly five months of pay, health insurance, career resources, and other benefits to help with their transition.<br /><br />"Those outside the US will receive a similar level of support, and our local processes will align with employment laws in each country," said Benioff.<br /><br />The company had 73,541 people on its payroll in early 2022.<br /><br />In November last year, the company laid off hundreds of employees. The company, however, told media publications that the job cuts affected "less than a thousand" employees.<br /><br />SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/from-0-to-100-million-in-5-years-thats-how-long-startups-founded-in-2017-took-to-scale-up-says-redseer-report/articleshow/96739954.cms">From 0 to $100 million in 5 years – That’s how long startups founded in 2017 took to scale up, says Redseer report</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-other-it-companies-earnings-preview-for-q3-fy23/articleshow/96731891.cms">December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks</a>

Salesforce lays off over 7,000 workers as it hired 'too many people' in pandemic

<ul><li>Infosys’ attrition worsened more in the January-March quarter reaching at 27.7% from 25.5% in the previous quarter.</li><li>Also, the IT major’s attrition rate is worse in the industry compared to other Indian peers.</li><li>The company is looking to hire 50,000 employees in FY23 as against 85,000 it hired in FY22.</li></ul>Infosys, India’s second-biggest information technology (IT) company in terms of market capitalisation, continues to be the biggest victim of the talent war with a high number of employees leaving the organisation. <br /><br />Infosys’ attrition worsened more in the January-March quarter reaching at 27.7% from 25.5% in the previous quarter. The IT major’s attrition rate is worse in the industry compared to other Indian peers, even more than TCS’ attrition rate of 17.4% in the same quarter. <br /><div type="image" title="infosys attrition" height="900" width="1200" msid="90826018" hostid="261"></div>However, the management at Infosys said the attrition rate has come down on a quarterly basis as against the LTM (last twelve months) data disclosed. Moreover, it expects the attrition rate to decline gradually as it also kicks off hikes from April 1. <br /><br />“Attrition for the quarter has come down by close to 5% both in percentage and absolute headcount. So we talked that last quarter attrition had actually stabilised… of course the tail effect will continue to climb. Good news is we have seen stability and of course the intervention we are looking at like the April 1 hike plan, we should continue to see some improvement in them,” said Nilanjan Roy, chief financial officer at Infosys. <br /><br />Further, the company is looking to hire more than 50,000 employees in FY23 as against 85,000 it hired in FY22. Infosys has an employee base of 3.14 lakh, half of what TCS has. <br /><br />The company’s net profit for the March quarter rose about 12% to ₹5,686 crore with revenue growth of 22.7% year-on-year at ₹32,276 crore. Infosys has set a revenue growth guidance of 13-15% for FY23. <br /><br /><br /><strong>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adanis-green-energy-firm-now-even-bigger-than-hdfc-bajaj-finance-bharti-airtel/articleshow/90819094.cms">Gautam Adani’s renewable energy firm now bigger than HDFC, Bajaj Finance, and Bharti Airtel</a><br /> </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/web-3-0-saas-and-fintech-will-be-big-investment-focus-for-2022/articleshow/90819387.cms">Web 3.0, SaaS and fintech will be big focus areas for 2022 even though early stage investments are expected to slow down</a>

Infosys is looking to hire 50,000 employees this year while expecting the attrition rate to come down

<ul><li>TCS, Infosys, Wipro are the top three information technology firms in the Indian market with over 11 lakh professionals working for the companies.</li><li>The entire IT sector has been witnessing a talent war with a high number of employees leaving the organisation for the last one year.</li><li>As a result, these firms have been hiring aggressively to make up for those leaving. Let’s see how much has changed in one fiscal year.</li></ul>For the last one year, the India’s as well as global information technology (IT) sector is going through a talent war to retain employees from leaving the organisations and spend millions on frequent promotions. <br /><br />While this has burnt a hole in the pocket of these technology firms, it has created tons of job opportunities for freshers graduating out of universities. <br /><br />Tata Consultancy Services (TCS), Infosys, Wipro are the top three information technology firms in the Indian market with over 11 lakh IT professionals working for the companies. <br /><br />Tata Group company TCS is the top IT firm in the industry with highest market capitalisation and biggest staff count.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top three IT firms <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hiring done in FY22 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total no of employees<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.03 lakh <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 lakh <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">85,000<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.14<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45,416<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.43<br /><br /></td></tr></tbody><tbody></tbody></table>The companies have been hiring aggressively to tame high employee attrition rate. Employee attrition rate is the measure of employees who have left voluntarily or involuntarily over a period of time.<br /><br />Rate of employees leaving the organisation is highest in Infosys, second highest at Wipro and then at TCS. <br /><br />The management at TCS feels that the attrition rate is <a href="https://www.businessinsider.in/tech/enterprise/news/techies-will-continue-to-leave-tcs-at-a-higher-rate-for-a-few-more-quarters-and-later-cool-off/articleshow/90783480.cms">cooling off </a>and may come down after a few quarters.<br />  <div type="image" title="tcs, infosys, wipro attrition rate" height="900" width="1200" msid="91184456" hostid="261"></div><br /><br /><strong>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/wipro-to-double-fresher-intake-this-year-promotions-to-be-faster-as-employees-are-still-jumping-ship-in-hordes/articleshow/91181367.cms">Wipro to double fresher intake this year, promotions to be faster as employees are still jumping ship in hordes</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ahead-of-lic-ipo-paytm-money-opens-bids-of-up-to-5-lakh-through-upi/articleshow/91182034.cms">Ahead of LIC IPO, Paytm Money opens bids of up to ₹5 lakh through UPI</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/top-five-experts-to-learn-investing-in-us-stocks-from/articleshow/91182037.cms">Top five experts to learn investing in US stocks from</a><br />

TCS, Infosys, and Wipro hired 2.33 lakh employees in FY22 to tame high attrition

<ul><li>Earnings season will begin next week with the results of major IT companies -- TCS on April 11 and Infosys on April 13.</li><li>Digital transformation deals continue to boost IT sector’s growth along with rupee depreciation in the recent months benefiting the sector.</li><li>However, profit margins of these companies are expected to be under pressure because of increase in employee salaries and record hiring.</li></ul>The March quarter earnings season will begin next week with the results of major information technology (IT) companies such as Tata Consultancy Services (TCS) on April 11 and Infosys on April 13. <br /><br />Most analysts believe March is a seasonally weak quarter for IT companies and they expect moderate earnings growth amid margin pressures. <br /><br />The profit margins of IT companies are expected to be under pressure because of increase in employee salaries and record hiring. <br /><br />“Sequential growth for Indian IT will be moderate in March 2022 quarter and in line with historical seasonal trends. Margins will remain under pressure resulting from elevated wage increases, onsite as well as offshore,” said Kotak Institutional Equities. <br /><br />The entire IT sector is struggling to retain employees including top five companies. In fact, in the last quarter <a href="https://www.businessinsider.in/tech/enterprise/news/more-employees-are-leaving-tech-mahindra-than-tcs-and-wipro/articleshow/89291721.cms">more employees left Tech Mahindra </a>than at TCS and Wipro.<br /><br />The report added that talent shortage continues even as the industry has added a record number of freshers. High cost to backfill attrition and retain talent will seep into margins across companies.<br /><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top IT companies <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expected revenue growth in Jan-Mar*<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.7%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.6%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.2%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.2%<br /><br /></td></tr></tbody></table><em>Source: Emkay Research*Revenue growth in constant currency on a sequential basis <br /></em><br />Meanwhile, the growth momentum may sustain due to healthy broad-based demand as firms across the world have increased spending on new technologies. “The demand environment is robust at present. There could be moderate risk to demand as fallout of the Russia-Ukraine imbroglio starts impacting key economies. Nonetheless, we believe double-digit growth is feasible for many,” said a report by Kotak Institutional Equities. <br /><br />Higher employee cost and shortage of skilled talent will remain the key challenges in the short term for IT companies. <br /><br />Investors will keenly monitor the management commentary on any impact on technology spending from higher energy prices, inflation and potential economic slowdown, demand trends in key verticals such as banking, financial services and insurance (BFSI), retail, manufacturing and communications, and the attrition rates.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top IT companies<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Results date<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 11<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 13<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 29<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 21<br /><br /></td></tr></tbody></table><br /><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/unacademy-reportedly-lays-off-1000-employees-from-sales-business-and-other-functions/articleshow/90709336.cms">Unacademy reportedly lays off 1000 employees from sales, business and other functions</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-takes-a-jibe-at-ashneer-grover-says-no-money-left-to-pay-salaries-since-grover-stole-it-all/articleshow/90706030.cms">BharatPe CEO takes a jibe at Ashneer Grover, says no money left to pay salaries since Grover stole it all</a>

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