Infosys, TCS, HCL: Top 3 IT firms hire 18,000 freshers in last 3 months

Fresher Hiring In Top IT

Top three IT companies of India, TCS, Infosys, and HCL Tech have hired more than 18,000 freshers in just last three months of the year, as per their December quarter results 

Hiring At TCS

TCS, the largest IT services company in India, hired around 7,000 new freshers in third quarter of FY23

Hiring At Infosys

Infosys, the second largest Indian IT company, hired about 6,000 employees in Q3FY23

Hiring At HCL Tech

HCL Tech, the third largest IT/ITeS company in India, hired 5,892 freshers in Q3FY23

Have IT Firms Reduced Fresher Hiring?

Despite the big numbers, fresher hiring has reduced across the top three IT companies for various reasons

Fresher Hiring In
September Quarter

The fresher hiring in Q2FY23 at India’s top 3 IT companies was as follows:

Drop In Hiring At Top
3 IT Firms

The drop in fresher hiring across top 3 Indian IT companies is being attributed to seasonality in the business and several other factors 

Increased Bench Size 

Bench, in an IT company, refers to employees who are currently not on a project. But these employees are still on the companies' payroll because they maintain benches in case a new project shows up

Increased Retention Rate

The retention rate of employees has also gone up significantly as compared to the previous quarters. This has led to reduced lateral hiring of replacements

Moderation In Attrition

The attrition rate at Indian IT majors has moderated over last few quarters. Therefore, companies have hired fewer people to replace the employees who voluntarily exited

Shares of ITC: Yoga Bar to be acquired by ITC! Here's everything you need to know

Next Visual Story

Story by: Aakanksha Chaturvedi
Designed by: Pragati

Click Here

Next: Shares of ITC: Yoga Bar to be acquired by ITC! Here's everything you need to know