After the government tabled the Kannada Language Comprehensive Development (Amendment) Bill in the legislative council on Tuesday, Kannada and culture minister Shivaraj S Tangadagi said MNCs must display the number of Kannadigas employed on notice boards on their campuses. Failure to do so, he added, might lead them to lose licences.
As of January 2024, 17% of companies are in 100% work-from-home mode, said the study that covered more than 500 companies with over one million employees, mostly in the IT and ITES space.
According to the report by TeamLease Digital, the hiring landscape for engineering graduates is expected to fall short of pre-pandemic levels, with an estimated 1.6 lakh freshers finding employment, compared to the 2.3 lakh recruited in FY23.
With approximately 1.5 million engineering graduates actively seeking IT/tech roles, muted market sentiments and intensified skills evaluation mechanisms will mean only 10% of the fresher pool will find coveted IT jobs.
The demand is coming from both IT companies and non-core IT companies who are looking to ramp up their digital infrastructure and this has led the employers to seek people with these skills in smaller cities in Maharashtra, industry experts say.
When companies show they care, employees build a stronger emotional connection with the company. Talent retention and recruitment are pivotal in the tech sector, where competition for skilled professionals is fierce. Retaining top talent is critical in this industry due to the substantial cost of turnover, estimated at 100-150% of an employee's annual salary, according to data from Built In.
Wipro CEO Thierry Delaporte took home a remuneration of $10 million or Rs 82.2 crore during FY23. Delaporte is also the highest-paid CEO among his IT peers in FY23. During FY23, the shares of Wipro fell nearly 38%, while it saw its PAT dip by 7% during the same period.
Tata Consultancy Services (TCS), LTIMindtree, Wipro, Persistent Systems and others told ET about half their staff have been punching in at least twice a week.
Aggregate staffing at Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, LTIMindtree and L&T Technology Services (LTTS) contracted by 18,000, worse than a negative 9,000 in the June quarter of 2021, which was during the pandemic, according to data compiled by Xpheno for the last three financial years.
Outsourcing cost of Tata Consultancy Services, Infosys, Wipro and HCLTech increased to more than Rs 62,939 crore ($7.6 billion) for the year ended March 31, 2023, compared with Rs 39,368 crore ($4.8 billion) in fiscal 2021, according to data compiled by specialist staffing firm Xpheno.
As the financial year-end results and guidance season draws to a close, ET brings you a few number-nuggets from the filings of the IT firms.
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