JOIN USAccording to Manipal Universal Learning (P) Ltd Chairman Mohandas Pai hiring is unlikely to be affected during recession since the industry remains talent hungry. “There may be a problem in first three quarters since clients (of IT companies) would like to take time and think on having more resources (at the servicing company),” he said.
“(Global) companies always like to outsource during recession as part of cost-cutting. Once they make their decisions in early quarters (of the financial year), they outsource more.
Job seekers have nothing to fear,” he added. Endorsing his views, Symphony Services Executive Vice President & Chief People’s Officer C Mahalingam said companies prepare for “recessionary trends. Cost-cutting has virtually become the way of life for companies. Organisations are cost-sensitive irrespective of recession or growth period, but that is unlikely to affect recruitment since talent is a constant need.” Mid-sized IT companies like ours have continued hiring, Mahalingam said adding his company has been looking out to fill in nearly 700 jobs.
Cognizant Chief People Officer Shankar Srinivasan said “As fastest growing IT services and consulting company globally we continue to hire aggressively to meet our robust business demands. While there are macro economic uncertainties, we do not see slowing in client decision making.”
Industry insiders, pointing at hiring trends at the top five IT companies, said there has been fewer indications that they have slashed their recruitments both at freshers and at lateral levels.
Avtaar Career Creators Founder and CEO Soundarya Rajesh said conservative steps by companies to cut hiring would only affect middle management hires. Fresher recruitment might get hit only by about 10-15 per cent, that to because companies will be selective,” she said.
“Lateral hires are a sign of a company’s expansion and might get affected if we go into a second recession.