The 28,157 employees hired this quarter is an increase from the 16,687 hired in the preceding quarter
The 28,157 employees hired this quarter is an increase from the 16,687 hired in the preceding quarter, it said. The increase in hiring was because of better business forecasts and strong quarter results. There has been a gradual increase in hiring since the trend declined in Q3, 2018.
TCS led the pack, by hiring the bulk of the new entrants. The net addition of 14,097 employees was the highest ever in a quarter, breaking its own previous Q1 record (12,356).
TCS' Chief Financial Officer V Ramakrishnan has reiterated that the sector's business environment is not as seasonal as it used to be. He added that the company would continue to focus on posting double-digit growth in the financial year despite a muted first half.
"We were confident when we started the year. It is a challenge now…(but) we continue to be focused on that goal. It is not that we have given up," Ramakrishnan told Moneycontrol.
He added that the anticipated business growth was the key driver over much of the hiring. At the same time, the company is building capability with a major push in campus hiring and training recruits in the required skillsets.This may play a critical role, given the company's order book was the highest in six quarters. As the orders come online, the hiring will begin to play a significant role.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.