HIRING SPREE BY IT FIRMS-ONE LAC JOBS
Human Resource Planning and Strategy skills of major I.T. firms in India are now put to test to meet high skilled manpower requirements of uneven and unpredictable workload from all over the advanced countries of the world. With the maximum from U.S. Combined requirement of all the four majors is about one Lac professionally qualified software personnel.
The much vaunted IT firms have now embarked upon a major hiring spree as about One Lac jobs are expected to be created by just four major software companies this year.
But the fact that these offers will most probably be coupled with loyalty bonuses and other perks along with the usual stock options is just a sign that the sector is fast becoming desperate like never before to retain the existing skilled and efficient techies.
For instance, at the national capital on a recruitment advertisement outdoor hoarding IBM shows a car with a open rear-door for which the slogan says â€œIBM is hiring. Do you want to jump in?â€? It is astonishing to notice even companies like IBM has to resort to this type of advertisement. This reveals the tremendous pressure and speed at which they want to complete hiring well ahead of others.
All together, the big four Infosys, TCS, Wipro and Satyam are hiring over One lakh IT professionals from entry to top level in the current fiscal year itself. This is nearly double of the 56,000 employees picked up in 2005-06.
TCS along plans to hire about 30,000 new professionals in 2006-07 after adding 21,000 last fiscal. The demand for good people, both experienced and fresh candidates at entry level, is soaring. A Managing Director of one of the majors says the war for talent will continue this year also like the last couple of years.
Similarly, Wipro and Infosys technologies are going to create 30,000 and 25,000 jobs respectively while Hyderabad based Satyam plans to hire 12,500 engineers. Another head of these majors says that it is important to attain scale-up in this business and that is why they are hiring big. Infosys head (HR) added that the surge to export of Indian Software and IT enables services to $22 billion has encouraged companies to hire big time.
In addition to the majors, other IT companies are expected to add another 50,000 this fiscal to the existing 10lacs personnel working in the IT and IT enabled services sector.
Innovative tools for Hiring:
Forget campus interviews, urgency has ensured that IT firms take online tests too for prospective candidates according to the IT recruitment firm TVA Info-tech , Campus recruitment is good and easier for finding fresh talents but hiring senior level professional is very difficult owing to a growing bargaining culture among candidates . Indian IT firms hire fresh talent from campuses offering Rs 20,000 to 35,000 per month, MNC prefer lots with experience of over 5 years and offer Rs. 8-12 Lacs per annum.
He pointed out that getting a job in the open market is a Herculean task if one fails to get through campus recruitment as IT firms generally neglect such candidates. Software firms have also resorted to retention perks and stock options to retain talents which are becoming a big challenge in the industry.
Perks for loyalty:
Mr. NS, a software professional with Safe Net, is a case of such practice gets Rs. 15,000 for shopping. His company also provides additional benefits worth Rs 40,000 on completion of 3 years on the job. Most Software firms are resorting to dangling such carrots to retain employees and stop â€œSpeed – datingâ€? with the job.
In our conclusion the software outsourcing from India is here to stay for a long time to come. The Business community in advanced countries is so much satisfied with India regarding the quality of work, timely completion and @20 to 50% of cost wants to offload more and more projects into India. Even the U.S. President was supportive for outsourcing from India during his recent visit here. Even proprietary Companies like Sphere IDC, Mumbai, India with 3 professionals is churning out a net profit of $ 0.25 million. The Company has got a 5 star rating from certain reputed websites through which they got the projects from U.S. and New Zealand. If the smaller companies have the necessary skills and ability to bag projects then their growth will be even much faster than the larger ones. The smaller companies like Sphere IDC share the profits with the professionals they hire on freelance basis. The skill of getting the project and coordinating with the client is totally company responsibility.