TCS, Infosys, HCL, Tech Mahindra, and several other Indian IT companies open up lateral hiring. This is mainly due to many people walking out of the door due to the corona pandemic
At the end of last quarter, in March, almost every suspends the hiring. Despite the assertions, the companies are in the idea of bringing lateral hires.
The one major reason for this reduction in the strength of the employee count. The rate of attrition is the speed about which the employees are exiting the company. It is indirectly proportional to the ability to retain the employees
Freshers who are onboarded before the lockdown are still being accepted by these companies. Although, the companies are preferring experienced employees to freshers
Almost all these companies never stopped hiring lateral hires. Based on the demand these companies are looking to fill the gaps with these laterals. These companies believe that the attrition rate will continue in the next quarter as well.
TCS did not fill all the opening positions with new hires. Around 4500 positions are filled by the existing employees by upskilling, cross-skilling. This led to an increase in learning at the company to a total of 25%
These companies are also looking to bring new initiatives to their staff. One such example is that the companies are increasing the variable pay per employee for 2020-2021
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