Hexaware Technologies plans to hire 5,000-6,000 lateral talent for the current calendar year with a special focus on data skills followed by digital engineering, app development, cloud infrastructure and Java full-stack.
However, despite the volatile market, an official from Hexaware said the compensation expectation hasn't gone down to the pre-pandemic level though it has reduced from last year's mammoth rise. Besides, the joining ratio has improved.
"Earlier, joiners would have the 'highest no-show probability'. Any shopping around with multiple companies was a random chance. However, this has changed now," Senthil Nayagam K, EVP of global revenue assurance and chief learning officer at Hexaware Technologies told Moneycontrol.
ALSO READ | Tata Power Renewable Energy aims to double workforce to drive growth
Hinting that employers' negotiation has gotten better amid the recent developments around the slowdown, Nayagam said candidate expectations may further soften over 4-6 months.
“There is so much volatility in the market and most companies aren't hiring. We are standing apart where we are still hiring and in decent numbers. The fact that the brand is recognised in the market, candidates think they should not lose the offer and they're coming on board,” he said, adding that the offer-to-joining ratio has gotten better than the pre-pandemic levels.
Hexaware onboarded around 4,500 people in 2022, taking its headcount to more than 28,000 employees. The employee retention rate also jumped from 68 percent in 2021 to 73 percent in 2022, though it is still low compared to 2020 (80 percent).
ALSO READ | Raymond plans to hire 3,000 this year, move to manufacturing 4.0 in 2-3 years: HR head
The attrition rate on December 31, 2022, was 21.9 percent, a slight drop of 1 percent from a year earlier.
“Like everybody else, we have also seen attrition spiking, but I think that is stabilised and we did several HR interventions to what needs to be done to curtail it,” Nayagam said.
Concerning return-to-the-office plans, Hexaware is operating in a hybrid environment with no mandate for employees to report to the office.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
