Due to the impact of COVID, 11000 employees resigned from top Indian companies in the last 90 days. This is the first in recent times when the employee count of these top companies reduce drastically
Although, these companies are hopeful of hiring in the upcoming days
In the April-June quarter, India’s largest software company TCS lost 4786 employees. In the same quarter, 3138 employees resign from Infosys. While the numbers at Wipro and Tech Mahindra are at 1082 and 1820 respectively.
A cumulative of around 11,000 employees resign from all these companies. Mr.Pravin Rao, the COO of Infosys says that currently the company has stopped hiring but it already has recruited around 5000 laterals around the world.
All these new recruits are onboarded remotely. Infosys also says there are plans to bring around 20,000 freshers this year.
Meanwhile, at Wipro, CFO says that the company has enough talent for its projects. He also says that the company always looks for revenue and if there is a need to hire new talent, the company is going to hire
Several startups in the country are canceling their office leases in order to survive through these tough times without any pay cuts and job losses. One such example is related to a Hindi audio content platform startup Khabri. Recently, while most of their employees are working from home and will continue to do so for some time, they had to give up their own private space at Gurugram. Most of the staff are working remotely and the majority of them have decided to continue working remotely. Hence they had to give up their space.
In the past few weeks, many companies have changed the roles of their employees to permanently work from home. The advantages are clear with this model, increase efficiency, less operational costs, and more safety. Several tech giants like Twitter allowed its employees to work from home whenever they want, TCS is planning to have 75% of its employees to work from home by 2021.
One another startup that did the same is Bizzitor. It did not renew its lease in order to prevent job cuts and salary losses. Bizzitor founder had said that they initially took this place to attract top talent and impress their clients, but with most of their employees are working from home they thought of giving away their lease. All they are looking for now is a small space, as a registered business needs a dedicated official address.
Several other startups across Mumbai, Bangalore, Gurugram are following this model to help the company prevent losses. Also, most of the staff are now preferring to work remotely.
A recent study by job search platform Indeed has shown a huge increase in searches related to work from home jobs by 261% since February 2020. But the fact that there is no increase in the number of work from home jobs during the same period, is concerning.
The study states that people are searching for jobs with phrases like remote, work from home, etc. Overall, job searches have increased by 278% since September 2019.
Mr.Pawel Adrejan, an Economist at Indeed has commented on these trends, saying that people always wanted flexibility in their jobs, especially the millennials who are almost half of the total population of the country. During a hard time, this work from home will be of great advantage, not only for the people who are working from home but also to the companies to continue running their business without any interruptions.
According to a previous study by Indeed, the percentage of job seekers who consider remote work is around 58%. Out of them, 53% are even non-hesitating to take pay cut if they were to take work from home