Despite the challenges faced by IT services companies worldwide due to the ongoing pandemic, Infosys Ltd has experienced a significant decline in both job applications and offers extended to candidates in recent times. This drop has raised concerns about whether Infosys remains a top choice for job seekers within the industry.
Experts attribute this decrease in job applications and offers to several factors, including the low hiring requirements of IT services firms, a residual effect of the mass hiring that occurred during the peak of the pandemic, and the growing popularity of global capability centers (GCCs) among prospective employees.
Notably, Infosys received 2.44 million applications during the last financial year, closely resembling pre-pandemic levels recorded in the fiscal year ending March 2019. Despite this, the number of job offers extended last year fell significantly below pre-pandemic levels, with only 26,975 jobs offered compared to 94,324 in the fiscal year 2019.
Analysts suggest that the decline in applications could be attributed to a shift in perception among young applicants who may no longer view traditional IT services firms as desirable employers. Instead, many seek opportunities at GCCs or startups that offer more challenging roles, higher pay, and a more innovative work environment.
However, the decrease in job applications and offers is not unique to Infosys alone. The overall economic uncertainty and a global slowdown have impacted hiring across the tech industry, leading to a greater emphasis on specialized skills and niche expertise among recruits.
While Infosys has leveraged automation tools to streamline its hiring process, industry analysts predict a potential uptick in hiring in the upcoming financial year. As the global economy stabilizes and automation technologies mature, there may be an increased demand for skilled professionals within IT services firms, signaling a potential shift in the industry’s hiring landscape.
Overall, the evolving dynamics of the IT services sector, coupled with changing job preferences among young applicants, are reshaping the recruitment strategies of companies like Infosys. By adapting to these trends and focusing on specialized skill sets, organizations can attract top talent and navigate the ever-changing employment landscape.
