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Posted : Sunday, July 6, 2008
BANGALORE: As the first quarter
results for FY09 start pouring in from IT companies, starting with Infosys
Technologies on July 11, expectations on the human resources front would be very
muted.
Despite being one of the largest employers of formal
education sector, the mood in the Indian IT industry is frozen in terms of
hiring, on account of weak economic signals from US, its largest market.
It is expected there will not be any �big� hiring
numbers for the first quarter from the large IT services companies. The
curiosity in hiring numbers is because any organisation�s revenue growth
is directly related to number of people employed.
Some of the HR
belt-tightening steps that large IT firms are keenly following are lower
increments, slimmer bench (as low as 5 per cent in many cases against an average
20 per cent in the heydays), greater operational efficiencies in hiring and, in
some extreme cases, even outplacements.
HR industry watchers say
companies are not rushing to hire and are keeping an external bench instead. For
instance, if a project requires 1,000 people over a period, they would hire 300
and guage the progress.
In the meantime, they would engage
recruitment agencies to keep a database for the remaining numbers for hiring at
short notice.
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