It’s raining perks and jobs for IT employees

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India’s information technology (IT) sector is on a hiring spree. IT professionals with a few years of experience are being offered jobs by multiple companies. To woe these potential candidates, IT companies are aggressively offering joining bonuses and perks to them. Recently BharatPe announced that will offer multiple joining perks like bikes, gadgets, etc to the new joinees.

While some companies are offering iPhones and Flexi-working, others are even paying Rs 1,000 to Rs 5,000 each to every candidate who applies for an assessment test in the company. The recruiting firms are working overtime with the company’s operations and hiring process going simultaneously. They are witnessing that the candidates are being offered multiple offers and they have to offer something exclusive to acquire the talent.

“We schedule more than 1,000 interviews a week, but in 40% of these cases, either the candidate does not show up, or internet connectivity issues result in the interview being cancelled or postponed. “Of the 600 interviews that happen, only about 75 join,” Saravanan Balasundaram, founder and CEO of talent consultancy firm Han Digital said.

“Organisations are witnessing 30-50% of those to whom they make offers, not taking them up. “The 60-90-day notice period is also allowing them to shop for more offers. The more skilled they are, the more offers they have,” Vijay, CEO of IT staffing in a recruitment firm said.

IT giants like TCS, Infosys, HCL, and Wipro expect to hire 1 lakh people in total this fiscal year. Another company, Cognizant plans to hire 1 lakh experienced professionals and 30,000 freshers this year. The company would also make 45,000 offers to campus recruits who would join the company next year.

“IT services companies had an onboarding ratio of about 80% pre-Covid, and now that’s dropped to 45-50%,” Kamal Karanth, co-founder of staffing firm Xpheno said.

The pandemic has resulted in a sharp rise of IT firms as the global demand for digitisation increased.

Salary hike to women employees

Women professionals, especially those employed in the IT sector are witnessing a huge hiring rush and salary hikes from their employers. The companies have increased the hiring and 70% jump over the last drawn salary packages of women employees. The IT sector is experiencing the maximum hiring with nearly 65% of overall recruitment. A study by TeamLease Services found that women formed 43% of the total hiring by IT companies since March this year. The surge has been significantly observed at the mid-management to senior level.

A leading firm in diversity and inclusion, Avtar, says it has seen “a never-before increase” in diversity hiring across IT and non-IT sectors over the last quarter.