Reduction in campus placement process by IT companies facing recession

New Delhi: Recruitment to Indian IT companies from college and university campuses may slow this year. Analysts say that campus recruitment of IT companies is expected to be only 70 percent this year compared to 2018-19. According to HR experts, after three years of fluctuating demand, companies' hiring targets will now come down to pre-Covid levels.

This has already been indicated in the announcement made by the top IT companies of the country. India's second largest IT services company Infosys is yet to announce its recruitment target for the current financial year.

Tata Consultancy Services (TCS) recruitment figures have returned to pre-Covid levels. The company will recruit around 40,000 freshers. HCL Technologies will hire only half this year as compared to FY2023. The company had said in December last year that it could hire around 30,000 workers. But in the fourth quarter of FY2023, he said only 13,000 to 15,000 will be recruited.

If we compare these numbers with recruitment data by IT companies in FY 2019, TCS hired 30,000 freshers and Infosys 20,000 freshers. During that time HCL Technologies and Wipro did not recruit much from the campus.

A firm that monitors campus recruitment believes that in FY24, companies may see recruitment similar to pre-Covid. He said, in 2019-20, the industry was generally growing and recruitment picked up for some time after that. Compared to 2019-20, only 70 per cent recruitment is expected in this financial year compared to that year. Indian IT companies are facing many problems including over-recruitment, underutilization of recruited graduates. Lack of quality. Includes affordability and mass recruitment.

Companies are facing a double whammy on many fronts. During Covid, there was competition for recruitment and the number of people leaving the company was also very high. In the summer of 2021, all companies worked hard on recruitment. Companies must have felt that fewer people would join, so the recruitment target was doubled.

HR experts believe that recruitment competition also affected the quality of employees. Experts say that India produces 10 to 12 lakh engineering graduates every year, but only 3 to 3.5 lakh are employable. In such a situation, companies have started to tighten their internal evaluation process to lay off employees.