The Hindu Business Line : Top 4 continue to hire more

Chennai, April 27 The top four IT companies spent Rs 28,322 crore on staff cost in 2007-08, 18 per cent higher than the previous year’s spending of Rs 23,941 crore.

Tata Consultancy Services added the highest number of employees, but spent less on staff cost when compared to the previous year.

The company added 22,116 employees in 2007-08 at a staff cost of Rs 7,854 crore against Rs 8,002 crore in 2006-07.

In terms of employee addition, the top four added 48,000 employees and ended the fiscal with a combined strength of 3.23 lakh in 2007-08 compared with 2.87 lakh a year ago, an increase of 13 per cent, according to information collated by Business Line.

TCS continued to maintain the lowest attrition rate in the industry at 12.6 per cent.

Overseas nationals, coming from 62 different nationalities, formed 9.1 per cent of the total employee base, says a company press release.

The US slowdown and the sub-prime did not affect the top four’s employee spending and employee addition last year. This trend may continue this year too, according to an official of an HR company.

According to the findings of the Ma Foi Employment Trends Survey, by the end of December 2008 around 1.30 lakh employees are expected to be added in the Indian IT and IT-enabled service sectors. IT will employ around 75,000 and IteS is likely to attract around 55,000.

The expected growth in employment is backed by high levels of confidence on the part of HR managers in being able to absorb a significant talent pool in the coming months, the report says.

Tier-II software companies like Polaris and Infotech Enterprises also saw a significant increase in the staff cost and employee recruitment.

More Stories on : Software | Human Resources | Infosys Technologies Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page