IT Firms Onboard Over One Lakh Freshers IT industry experts' analysis stated that, the fear of global recession and spate of layoffs in the startup space are expected to have a sobering effect on high attrition levels in Indian IT industry over the next 2 to 3 quarters

India's top four IT service providers, reportedly, have onboarded over 105,000 freshers during the first half of the fiscal year. This is higher than the 97000 freshers onboarded during the same period last year. TCS, Infosys, Wipro and HCL Technology together took on one lakh graduates ad IT professionals.

"Most service providers have learnt to manage attrition better and invest more with talent that is loyal to the business. At the junior level, the options to jump ship to the startups and tech firms are diminishing. Some providers are also learning how to manage hybrid workers better and create more challenging roles for people," said Phil Fersht, chief executive of HfS Research, in a statement.

According to last years' reports, Tata Consultancy Services alone hired 40,000 freshers in FY22, which made its workforce about five lakh strong. Infosys also took 26,000 professionals whereas HCL Tech hired about 12,000 freshers in FY22.

"We added 35,000 freshers I the last two quarters and we have invested the last 6 to 9 months in organic talent development with some market addition of laterals," said Milind Lakkadi, chief human resources officer, TCS, during its results announcement.

Bengaluru-based Wipro plans to hire a total of 30,000 freshers in FY23.

"We have onboarded over 14,000 freshers in H1 which is about 72 per cent of what we added in the whole of last year," said Thierry Delaporte, CEO and managing director, Wipro, in a statement.

According to IT industry experts' analysis, the fear of global recession and spate of layoffs in the startup space are expected to have a sobering effect on high attrition levels in Indian IT industry over the next 2 to 3 quarters.