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Why is Big IT not hiring despite strong Q2 nos?
Strong numbers by the top four IT giants have brought cheer to their employees. Increments and promotions are back on track but hiring fresh recruits is not yet on the cards, reports CNBC-TV18's Kritika Saxena.
Strong numbers by the top four IT giants have brought cheer to their employees. Increments and promotions are back on track but hiring fresh recruits is not yet on the cards, reports CNBC-TV18's Kritika Saxena.
The big boys of the IT industry have seen strong profits and stability in their margins. That has led to a return of increments and promotions for most employees in the top four IT companies.
Pratik Kumar, President - HR, Wipro , says, "We selectively gave performance bonus to our employees who did well in their performance appraisal cycles. We also selectively gave increments to our fee force during the course of the quarter. As we stand here today, we continue to look at how the trends are evolving."
However, fresh recruitment is still slow. Wipro is cautious and will look at fresh recruits only in the next two quarters. TCS has taken a similar call. Infosys has given wage hikes and will hire lateral employees in the third quarter.
Kris Gopalakrishnan, CEO, Infosys , says, "Wage hikes have been given but we are still cautious. We are seeing recovery but we still maintain that the worst is not yet over and caution must be exercised."
HCL Tech has not only given performance based increments but it will also go through its regular process of just-in-time hiring and will hire new employees as and when required.
