“IT, ITeS campus hiring could fall by 38%”
SOURCE: EconomicTimes
DATE: March 6th, 2008
Mohit SoapBox:
Slowdown has it’s positives too. Attrition should see a downward trend if the hiring is slow. For graduates coming out of engineering schools, the opportunities might be slow in one area IT/ITES but the other domestic marketings are opening up, infrastructure, retail,telecom and those will continue to grow.
ARTICLE
Engineering graduates may find it tough to get jobs this year as campus recruitment by IT and IT enabled Service companies is likely to fall by about 38 per cent, an employment survey said.
“You will start seeing problem in the next six months. Demand has fallen while the supply has risen and campus hiring could be lesser by about 38 per cent,” Ma Foi Management Consultants MD K Pandia Rajan said releasing the Ma Foi Employment Survey 2008.
Ma Foi is the largest HR service provider and staffing company in India, carrying out the employment survey since 2004.
“We have seen companies staggering the joining dates by 2-3 months, batch sizes have come down and no company is on campus expansionary mode,” Rajan said.
He said apart from a slack in campus hiring, the industry was also a witness to downsizing.
“At least two large IT companies have downsized their staff strength,” he said without naming the companies.
At a time when rupee is rising against dollar and the possibility of a slowdown in US high, IT companies have decided to to go slow on hiring, he said.
Rajan, however, said that a deceleration in hiring would bring temperance in attrition rates, which are expected to come down by 5-6 per cent.
The Ma Foi 2008 survey expects an addition about 74,693 jobs, a rise of 7.31 per cent over last year in the IT sector while IT enabled services (ITeS) sector will add 56,221 jobs, a rise of 7.2 per cent.
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