Attrition is the biggest worry for the IT sector, and to tide over this, about 40% of the workforce has been hired by the leading firms in the last 12 months. This rapid hiring has been dubbed “the great reshuffle,” says global research firm ISG, and industry experts agree.
Yugal Joshi, Partner at Everest Group, argues that for large Indian service providers who are now 2-6 lakh people, 40% would mean 1-2.5 lakh hiring. Given that most service providers accelerated their graduate hiring, it is not surprising to see each hiring anywhere between 10,000 and 40,000; therefore, the numbers are indeed high. Indian service providers used to hire such numbers from graduate college, but now with high attrition, the proportion of hiring to the overall workforce is magnified, he said.