Wipro, Infosys to hire off-campus
India’s leading IT companies such as Wipro and Infosys are planning to hire off-campus this year. In 2011, these companies recruited about 1.5 lakh students from campuses but the number is likely drop significantly this year during the placement seasons beginning August- September.
Wipro, India’s third-largest software exporter which had decided to stick to the ratio of on campus and off-campus recruitment at 90:10 in the starting of 2012 has now modified it to 70:30.
In campus recruitments, companies have to issue offer letters and wait for a minimum of 6 months for the student to finish his course. But off campus hiring can be done whenever there is demand. Companies conduct job fairs and recruitment drive to recruit freshers off-campus with very little experience or students who opt out of placements. Off-campus hiring enables companies to decide on the basis of needs.
Nasscom has reduced IT-BPO sector’s growth projection to 11-14% this year from 16% of 2011. Few companies such as Infosys have revised their growth forecast of 5%. IT companies are seeking to regulate recruitment to the slowdown.
Infosys, India’s second largest IT exporter in July stated that it may delay the joining dates of more than 25,000 graduates hired by the company through campus placement in 2011. iGate too has announced delayed joining dates of nearly 1000 engineering graduates by a month or two.
TCS, one of the largest IT Company in India has proposed to continue to hire through campus and will recruit about 50,000 freshers this year.
Companies revealed that despite of a number of applicants being rejected from previous companies in campus processes, quality is not an issue during off-campus recruitment. In off-campus hiring, the ratio of suitable hires is much less as compared to the on campus hiring.
HCL is planning to take extra toil and stick to its 70:30 ratio of on-campus to off-campus this year. The company feels logical to spread over the entire hiring across all months rather than hiring in bulk during placement season.
Mid-level companies are also set to follow the suit to split the monopoly of IT giants enjoyed during the placements. Off-campus hiring increases the possibility of getting the correct talent. Big companies visit campuses to hire 95% of the best minds on day one itself. Smaller companies which generally visit on third or fourth day have to hire from a smaller pool.
MindTree has thus decided to hike its off-campus proportion from 10% to 30% of the total hires this year. This will help the company to reach tier-3 and 4 colleges widely.
Due to economic volatility, the number of on-campus placement is expected to drop down this year as companies will play safe and depending on their business will decide on recruitment numbers.
A new firm, CoCubes.com in Gurgaon provides a common online recruitment platform where companies can connect with the colleges. The firm has witnessed a drop of 30-40% in on-campus hiring over the last 1 year. The firm works with giants like UST Global and Capegemini had seen an increase for off-campus demand in 2010. Accenture announce demand of 1500 graduates’ off-campus in 8 weeks and expects a similar sudden demand to arise again.
The companies may follow a similar trend this year as large number of companies waits for a stable economic environment based on which they plan their hiring targets.
Source: Economic Times
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