Campus placements by Infosys on a new high

Great news for students graduating this year!

One of India’s largest software services provider, Infosys,  will hire as many as 22,000 college graduates through campus placements in the current fiscal year, higher than the number of freshers hired last year.

The Bangalore-based company,  will make these offers during the upcoming campus placement season that starts in August-September and goes on until December.

“We are hiring people from campuses this year but those people will be available only next year because of the lead time,” said UB Pravin Rao, co-president and board member.

Technology services companies in India, which hire close to 1.5 lakh students from campuses every year, make job offers in September but students come on board only in June once they graduate. In December last year, Infosys chairman NR Narayana Murthy had said the company expects to hire as many as 16,000 college graduates next year.

Hiring forecast for fiscal year 2014-15 comes at a time when Infosys is attempting to report higher sales growth under chairman Murthy who returned in June after Infosys lost ground to rivals. Under Murthy, Infosys has been cutting costs and focussing on winning large outsourcing contracts in traditional IT services areas such as application development and maintenance.

Every year, fresher hiring accounts for 70% of the overall hiring for IT services companies, while the rest 30% comes from hiring experienced staff or lateral hiring. Last year, Infosys CEO SD Shibulal said around 10,000 engineers would join the company.

Rao, who was recently elevated as President and is considered a strong contender for the Infosys CEO job, said lateral hiring will continue as usual. In the just ended fourth quarter, the software provider added 2001 employees and its total headcount was 1,60,405 employees.

Source: The Economic Times