22,000 Freshers to be Hired in 2022 by HCL!

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22,000 Freshers to be Hired in 2022 by HCL!

After the pandemic, almost every industry has turned 180 degrees in terms of their working, their remuneration, their methodology etc, and so has the IT industry. But with the advent of digitization, a massive increase in the demand for IT professionals has been witnessed. Just recently, the top 4 Indian companies added over 50000 employees in the second quarter of fiscal year ’21. And now, the firms are ready to hire more than 22,000 freshers in 2022.

HCL New Year Plans!

HCL Technologies on Friday said it has decided to hire 20,000 - 22,000 freshers this fiscal year as the demand continues to exceed supply. HCL Technologies Chief Human Resources Officer Apparao V V said, “HCL Technologies has already added 17,500 freshers as of January 10, and expects to hire 20,000-22,000 freshers this fiscal.” Hiring freshers is one of the main strategies HCL is emphasizing upon and has also commented that the number would double in FY23.

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“We expect there to be anywhere between 20,000 to 22,000 of freshers onboarding this year.Our talent strategy has got a big component which is freshers and we definitely are looking ambitiously at onboarding double this number next year in FY23,” he added.

HCL Technologies CEO Vijayakumar said, “At HCL, while we continue to onboard experienced domain and tech specialists, our strategy will continue to lean more towards adding net new talent at scale through fresh talent.” He further added that the company expects to recruit more than 2,000 graduates in the US and would increase its presence in countries like Sri Lanka, Vietnam, Romania, Hungary, Costa Rica,etc.

At the end of December 2021 quarter, HCL had 197,777 employees with a net addition of 10,143 people.

Increasing Attrition leading to a hiring spree

As we said earlier, the evolution of technology led to a massive increase in the demand for IT professionals worldwide. Consequently, this led to the imbalance between demand and supply, leaving all the power in the hands of the employees. With raining offers almost everywhere, and with significant salary hikes, IT companies are facing major issues with the high attrition rates.

"Our attrition is among the lowest in the industry, it's somewhere in the lower quartile compared to the other industry players. We expect this to stabilize, while the LTM (last 12 months) attrition rate rates may go up a little bit, but we expect the quarterly annualized numbers to start stabilizing and coming down in the future quarters," Vijayakumar said.

HCL Technologies’ attrition for IT services (on a past 12-month basis) was at 19.8%.

Controlling rising attrition

To contain attrition, HCL is taking a number of measures such as stock options, long term incentives, better salary hikes and upskilling and reskilling with a number of methods.

Apparao said, “The idea is to create a stable workforce with a significant retention to all these people…also as part of our leadership development programs, we have identified almost 600 people as our next-generation leaders who over the course of next 4-5 years will take up significantly higher roles in the organization,” he said.

Apparao pointed out that one of the talent strategies the company has adopted over the last five years is to identify locations where the talent is available. “We call our approach as glocalisation, where we are making significant investments in developing talent in countries like Sri Lanka, Vietnam, Romania, Hungary, Costa Rica, Guatemala, Germany, France, Canada, Taiwan, South Korea, and Brazil.”

He further added, “These are in addition to where we have reasonable scale operations like Poland, Mexico and Bulgaria. So, we have been investing in these countries to develop local talent there,”.