Not withstanding the signs of a slowdown in the US and the turmoil in the financial services industry, Infosys Technologies will give its 90,000 employees a 11-13% hike (as against 15-18% last year) wages. India’s second-largest software exporter has also upped the average salary for a fresh engineer to Rs 3 lakh an annum from Rs 2.8 lakh last year.
“As far as we are concerned, there is still a war for talent. We don’t see a slowdown,” Nandita Gurjar, vice-president and group head – human resources, Infosys, said on Wednesday.
Infosys plans to hire 25,000 employees this year across functions like IT services, business process out sourcing, and consulting. It has made 18,000 offers to engineers who would graduate this year, and expects a 70-80% conversion rate (candidates joining the company).
While the debate over a slowdown in the US continues, the hiring plan remains robust for most information technology companies. Tata Consultancy Services (TCS) plans to add 30,000 – 35,000 employees this year. Of this, fresh hires would be about 20,000, from 200-250 colleges.
Wipro has made 14,000 campus offers for FY2009. It has also made offers to 3,500 non-engineering (B Sc.) graduates. Satyam Computer Services expects to recruit a gross of 18,000 employees in FY2009.
Only HCL Technologies has cut down the net addition target for FY07-08 (July-June) to 9,000 from 12,000. For the nine months ending March 08, its net addition stood at 7,800.
Most companies have guided for similar wage hike (10-12%) this year, which is slightly lower than what they paid out last year (about 15%).
Infosys’ Gurjar is aiming to bring down attrition, currently at over 13%, to single digit through measures and concepts like better pay, job rotation, and right skilling.
The company hires people from about 1,000 engineering and 200 management colleges in the country. Outside India, T V Mohandas Pai, director, said, this year Infosys has hired 145 people from US campuses and over 20 from UK campuses.
The company spends Rs 700 crore per annum on training-it runs corporate India’s largest training centre in Mysore capable of accommodating over 13,000 people at any given point. To widen the talent supply pipeline, Infosys partners with 500 engineering colleges in co-designing curriculum and training faculty, this year half its fresher requirements is expected to be met from these institutes.