Software giant Infosys is planning something new which was not the style of the company since a long time. It is now seriously thinking to hire about 25,000 people in the current year. But in last financial year the company hired almost 32,500 people. That means the software firm intends to hire this year almost 30% less than that of last year. Out of these 25,000 people in the current fiscal, 18,000 would be through campus recruitment as per the group head of human resources, Infosys.
Though the company claims that it is not due to the global slowdown, but it is evident that global slowdown has some impact on Infosys even. Even though there is no change in procedural aspect of recruitment, it seems the firm tends to tighten up its hiring policy & the impact may be visible in the last two quarters of the current fiscal. The third & fourth quarters would be the time when the real gain or loss would be reflected in terms of results due to slight shift in recruitment policy of Infosys. The recruitment analyists are carefully watching the new recruitment strategy of Infosys.
According to company sources, the firm would have liked to have more people in its rolls, but the reason for the low recruitment level is not just economic slump but other factors such as infrastructure & business strategies. Whatever the reason be assigned by the authorities of Infosys, the fact remains that definitely the firm is worried about the global slowdown, for which such infrastructure & business strategies are chalked out which in turn, affecting the recruitment.
Statistics suggests that the company has hired 3,372 trainees for the quarter ended June, as compared to 5,070 in the corresponding period last year. The attrition rate in recent times was hovering at a little over 13%. During the first quarter of this fiscal it was 13.6%, which is marginally lower than 13.7% in the same period an year ago. But the good news is for the first time, Infosys will offer promotions twice a year, a 900 shift in its policy. The initiative will be implemented later this year. The new policy of promotions may not add to their wage pressure as they have already decreased the people in hiring rolls. It all depicts how the companies are impacted due to global slowdown, inclusive of software giants like Infosys. Hence like Infosys, in near future other software stalwarts may have major shifts in their recruitment policy too even though slowdown is over.