Next-Gen Talent: IT Firms Focus on Fresh Graduates for Future Growth
The IT sector is poised for a robust recovery in campus hiring, with expectations of a 20-25% increase this fiscal year, driven by a rising demand for talent in areas like AI, cybersecurity, cloud computing, and data analytics. This resurgence comes after a year of reduced hiring, where many companies paused fresh intakes amid global economic uncertainties and efforts to stabilize their workforces following aggressive pandemic-era hiring.
In the previous year, despite ambitious recruitment targets, only about 80,000 fresh graduates were hired. Many companies were unable to honor prior offers due to market instability. However, 2024-25 is already showing promising signs of recovery as firms prioritize fresh talent to support digital transformation, bridge skill gaps, and lessen dependence on experienced hires.
A key focus for companies is to onboard Next Gen Associates (NGAs) who have been previously offered positions. In the first quarter of FY25, around 3,000 NGAs were onboarded, with an overall target of 10,000 to 12,000 for the fiscal year. Additionally, hiring will concentrate on emerging fields such as generative AI, cybersecurity, and cloud computing.
One of the Top companies plans to recruit about 5,000 graduates from engineering campuses this year, implementing a phased onboarding process. This strategy aims to emphasize new-age skills like AI, machine learning, and data analytics. Furthermore, the company is looking to hire 1,000 interns under the Prime Minister Internship Scheme.
Another major player has announced plans to hire up to 40,000 freshers, targeting around 20,000 campus recruits, although they did not respond to inquiries due to mandatory silent periods ahead of quarterly results.
Experts caution that while hiring numbers are expected to rise in 2024, they may still fall short of the peaks seen during 2021-2022 when demand for IT professionals surged due to pandemic-driven digital transformation. Over recent quarters, many large IT firms have employed automation and AI to streamline operations, which has led to a decrease in fresh intake and overall workforce size.
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Looking ahead, companies anticipate a 10-15% increase in fresher hiring over the next few quarters, with a continued emphasis on recruiting individuals with new-age skills. During recent earnings, a firm reported onboarding 11,000 trainees in the last quarter and is set further to expand its workforce through the National Qualifier Test.
In the June quarter, the total number of employees at leading IT firms fell by 2,034, reflecting a significant net reduction in headcount. These firms primarily recruit in bulk from tier-III and tier-IV engineering colleges.
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