The Indian IT services sector will report gross employee addition of 450,000 and net addition of 150,000 to 175,000 in the second half of FY2022, after factoring in attrition which is currently averaging between 17% and 19%, according to market intelligence firm UnearthInsight.
The firm also estimated a 16% to 18% revenue growth for the industry in FY22 while it forecast a positive growth momentum throughout FY23 and FY24.
“The IT Industry’s perceived War on Talent is real and it’s getting intense with attrition,” said Gaurav Vasu, founder and CEO, UnearthInsight.
According to the firm’s hiring outlook, about 2,50,000 freshers have been added so far in FY22 by more than 30 domestic and multinational tech firms in the country.
Entry-level hiring in this fiscal is expected to be dominated by TCS (77,000), Cognizant (45,000), Infosys (45,000), HCL ( 22,000) and Tech Mahindra (15,000).
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