Infosys Tech to appoint 30,000 in by 2011
It seems the worst is already over with the Indian IT industry. For after the recent economic recession, the Indian IT majors are back to their hiring plans – and that too on a larger scale. The fact that Tata Consultancy Services (TCS), the largest Indian IT service provider in terms of software exports and revenue earnings, and Infosys Technologies, the second in league, have restarted their hiring process is ample indication of the increasing requirements in the outsourcing sector.
Infosys Technologies has announced that it will appoint 30,000 new talents to its existing employees of 1,13,796 by the end of the current fiscal year. Among the new recruits, 19,000 would be taken on from different campuses, 6,000 would comprise laterals, while the remaining 5,000 personnel will be engaged in the firm’s BPO operations. Quoting Infosys COO, S. D. Shibulal, a leading Indian news website says that during the last fiscal year the firm recruited 27,000 people and this year it has plans to add another 30,000 personnel to its workforce.
According to Shibulal, the company anticipates that considering the fact that the spending in international technology was augmenting the requirement for outsourcing the growth in its annual proceedings will be around 16% to 18% -- more robust than what was expected earlier. At the same time, Infosys Technologies chief operating officer reminded that the strengthening of the rupee is likely to subdue the growth for the outsourcing service providers and in such a situation, the firm anticipates that its profit margins will be hit even during the current fiscal year.
He said that the company had entered into five new contracts and two of which are worth over $150 million. This signified that the company has been able to add the biggest number of clients during the fiscal quarter ended on March 31, 2010. Compared to this, the company mainly had contracts worth $100 million in the preceding quarters.
Meanwhile, another website reports that Infosys board member and head of HRD at Infosys, T. V. Mohandas Pai has stated that the company has recently announced a salary hike for its onshore and offshore employees and when the salary hike becomes effective in April and July this year, it would not only become the maximum provided by any Indian IT firm, bit also be equal to with what the technology MNCs are presently paying in India. He said that during the 2009-2010 fiscal ending on March 31, 2010, the company paid out $134 million as compensation to its employees – the highest by any information technology (IT) company in India.