Keeping the COVID-19 pandemic in mind, the hiring of fresh engineering graduates from college campuses by IT companies are likely to witness a steep decline. The hiring of engineering graduates may go down by 20 to 30 per cent in the following weeks to come. According to several human resource experts, several companies are expected to onboard staffers after careful evaluation of the demand scenario, which is causing the disruption in hiring.
In the previous year, the top four IT firms added more than 50,000 freshers. The hiring of fresh graduates brings in the right balance inside the firms, which in recent years have become mid-level employee heavy. Tata Consultancy Service, one of the renowned IT firms, claims to have added 30,000 freshers in this financial year. The management of the company further aims to take the number to 39,000 in the next financial year of 2021. On the other hand, Infosys has made offers to 18,000 fresh graduates whereas the number for Wipro stands at 20,000.
The downtrodden effect in hiring has emerged due to many developed countries such as the U.S, have shut down establishment to impose social distancing in a bid to fight the COVID-19. This step has further resulted in the delay of winning big deals for various companies as reports suggest that contracts worth $3-4 billion have failed to reach a closing in a single month alone.
The hiring process is further getting damaged at the moment as most companies are reluctant to visit campuses and are barring HR executives from conducting face-to-face interviews with candidates. Compared to previous years, fresher hiring in 2020 is likely to face a 30 per cent depreciation if the situation further gets hampered in the U.S and Europe.