India's top IT firms are doubling down on campus hires, as they grapple with soaring attrition in a strong demand environment. With the job market showing no signs of slowing down, fresher hiring may retain its momentum in the coming fiscal as well.
For instance, take the fresher hiring numbers in the top firms, often known by the acronym TWITCH (TCS, Wipro, Infosys, Tech Mahindra, Cognizant, HCL Tech). While Cognizant is listed in the US, it is very similar to its Indian rivals in terms of business and client profile, with a majority of its employees based here.
Together, the TWITCH firms hired 2.15 lakh freshers in FY22, compared to the 99,000 graduates they had picked up in FY21. Cognizant hiring numbers are for the calendar year January-December.
This comes at the back of increased attrition levels the companies are seeing.