As attrition rates continued to rise amid a robust environment full of demand, software major Infosys said on Wednesday that it has hired 85,000 freshes — both off campus and on campus — in the financial year ended March 31, 2022. Infosys on the day declared its Q4 results where the company reported a consolidated net profit of Rs 5,686 crore. This was a growth of around 12 per cent as compared with Rs 5,076 crore in the year-ago quarter.
Infosys Hiring
Infosys hired as many as 54,396 employees for the year, and the company said that it was looking to provide jobs to over 50,000 more freshers in FY23. “In the last year, we have hired 85,000 freshers across India and globally. We are planning to hire upwards of at least 50,000 (this year) and will see how this plays out but that it just initial figures,” Infosys’ chief financial officer Nilanjan Roy told journalists at a press conference after declaring the results of the fourth quarter.
“With the acceleration of digital disruptions across industries, we see immense potential to engage and partner with clients as they transform, adapt and thrive. We will scale talent globally, invest in employees and accelerate innovation and digital capabilities to capitalize on the expanding market opportunity”, the Bengaluru-based IT company’s chief executive officer Salil Parekh added.
The IT major said that it had furthered its fresher hiring programme to 85,000 for the year from the 55,000 it had shared earlier in order to meet strong demand of its services. This comes at a time when attrition has spiked for Infosys, amid a surprising new war for tech talent in the country. The attrition stood at 27.7 per cent, Infosys CEO Salil Parekh said.
“With a robust demand environment ahead, we envisage making appropriate long-term investments in capability building across sales, delivery and innovation. However, we plan to neutralize some of the impacts through aggressive cost optimization programs and value-led pricing driven by service and brand differentiation. This, along with post-pandemic normalization of expenses, is reflected in the margin guidance,” Roy further said.
Infosys Salary Hikes
With the result announced for Q4, Infosys is likely to provide salary hikes to employees in the coming financial year. The organisation has aimed for a strong revenue growth guidance for FY23 at 13-15 per cent, with operating margins at 21-23 per cent.
“Infosys delivered highest annual growth in a decade with broad-based performance driven by deeply differentiated digital and Infosys Cobalt led cloud capabilities, powered by ‘One Infosys’ approach. We continue to gain market share as a result of sustained clients’ confidence in our ability to successfully navigate their digital journeys”, said Parekh.
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