IT industry hiring may drop by 20% this year. It's time to start your own business


It's time to start your own business
According to Nasscom, IT hiring may drop by 15-20% this year. IT industry major players like TCS, Infosys, Wipro and Tech Mahindra are focusing more on automation which impacts the hiring tremendously.

According to Nasscom chairman C P Gurnani, who is also the chief executive of TechMahindra, the drop in recruitment would not impact the revenue growth which is pegged at 10-11 per cent in the current financial year.

A recent report by Mumbai-based Centrum Broking had said that the big five software exporters – TCS, Infosys, Wipro, HCL and Cognizant – together added net 24 per cent fewer employees in 2015 at 77,265, thanks to their automation drive.

The massive plunge in net additions was led by the Chennai-based Cognizant (down 74.6 per cent from 2014) and HCL (down 71 per cent) which have been very keenly focusing on improving utilization rates through automation, Centrum said.

TCS had earlier this week announced that it too would be hiring less number of freshers.During the fourth quarter, TCS had added only 22,576 to take its total workforce to over 3.53 lakh, but chief executive N Chandrasekaran said the gross hiring in this fiscal will be “much lower” than 90,000 in 2015-16 on lowering attrition, better productivity and deepening automation drive.
TCS expects up to 32,000 freshers to join its benches from the 45,000 offers made at campuses across the country. Infosys had said last week that in the March quarter, its total headcount stood at 1,94,044, up from 1,76,187 a year ago. Net additions in the quarter stood at 661 people. But the company did not reveal its hiring plans.

So overall the IT industry hiring is going down by 15 to 20% this year. So get ready to start your own company or business. Best of luck...!!


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