<ul><li><keyword id="10863" type="COMPANY" weightage="20" keywordseo="CapGemini">Capgemini</keyword> does not see lateral hiring slowing down even with its recent dip in attrition, according to the company’s India Chief Human Resources Officer (CHRO) Pallavi Tyagi.</li><li>In an exclusive interview with Business Insider, she explains that while attrition is low, the company has aggressive plans to expand in the coming months.</li><li>At the end of September, Capgemini’s bookings were 17.4% higher than last year at around $4.6 billion.</li></ul> Capgemini may be a French company but more than half of their workforce is located in India — and the Paris-based company has no plans of slowing down. Even as attrition levels drop, Capgemini India Chief Human Resources Officer (CHRO) Pallavi Tyagi believes that lateral hiring will continue to increase. “If the business plans and expansion happen as we’re expecting then to happen, then hiring is not going to slow down,” she told Business Insider in an exclusive interview. In the third quarter, ending September 30, Capgemini saw a 17.4% yearly increase in bookings amounting to €3.9 billion (approximately $4.6 billion). The company’s new deals include building digital twins for a network of European factores and upgrading the industrial network that connects Mexico to China. “While it’s good not to have high attrition, at the same time, if there is a need for a certain demand that we need to fill, we’re hiring for those posts,” said Tyagi. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Attrition </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 2019 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change in attrition </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Strategy and Transformation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Application and Technology </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Operations and Engineering </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.2% </td></tr></tbody></table>Source: Company filings Indian tech companies have also seen a drop in attrition. While they had pressed pause on lateral hiring during the first six months of the pandemic, the coffers have opened up again. Nonetheless, as many plan to double down on freshers, <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-others-to-see-more-freshers-than-lateral-hires-in-the-next-six-months/articleshow/79014794.cms">lateral hiring will still be dealt with caution.</a> “A large amount of lateral hiring happens because of attrition replacement. If I’m losing 20 people, I have to hire 20 people. To that extent, lateral hiring will come down,” HCL Tech CHRO <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-others-to-see-more-freshers-than-lateral-hires-in-the-next-six-months/articleshow/79014794.cms">Apparao VV told Business Insider</a> earlier this month. Skilling new lateral hires Capgemini has already added over 45,000 employees to its ranks globally this year. For India, the overall hiring target has pegged at 24,000 for 2020 with a similar outlook for next year as well. However, lateral hiring is different from on boarding freshers in the sense that it is generally role specific. Companies hire to address an expert for a specific need that already exists within the company. <div type="image" title="capgem headcount" msid="79277415" hostid="261" caption="&amp;lt;p&amp;gt;Overall headcount and net addition of employees over the last five years&amp;lt;/p&amp;gt;"></div> “There may be a certain want of a skill, which is missing, which we say we can definitely upskill within the organisation and we hire laterals accordingly,” explained Tyagi. The big shift that Capgemini, and its peer companies, have seen is taking whatever training and skilling is required online. To address that requirement, it introduced the AI driven ‘Next’ platform for personalised microlearning. The company pegs the digital learning platform as a one-stop shop for employees to keep up with whatever they may need . “The uptake in terms of learning output has increased,” said Tyagi. SEE ALSO: <a href="https://www.businessinsider.in/business/news/indiamart-and-justdial-in-legal-battle-over-copyright-violations/articleshow/79275178.cms">IndiaMart and JD Mart gear up for a legal battle over copyright infringement — even as Justdial calls IndiaMart’s allegations ‘baseless’</a> <a href="https://www.businessinsider.in/india/news/cipla-launches-a-new-rapid-antibody-detection-test-for-covid-19-which-will-give-you-results-in-less-than-10-minutes/articleshow/79275894.cms">Cipla launches Covi-G — a new rapid antibody detection test for COVID-19 which will give you results in less than 10 minutes</a> <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-lakshmi-vilas-bank-tata-motors-dhfl-wipro-mahanagar-gas-iifl-securities-and-others/articleshow/79276060.cms">Top stock movers — Lakshmi Vilas Bank, Tata Motors, DHFL, Wipro, Mahanagar Gas, IIFL Securities, and others</a>

EXCLUSIVE: Capgemini India HR head explains why the French IT major is on a hiring spree in India and around the world

<ul><li>French tech major <keyword id="10863" type="COMPANY" weightage="20" keywordseo="CapGemini">Capgemini</keyword>, which employs close to 1.15 lakh people in India, is looking to hire up to 30,000 employees in the country this year.</li><li>The Indian workforce constitutes for over half of its global employees base.</li><li>It has been found that youngsters under 30, who make up for over 65% of its workforce, show a keenness to learn, said country chief executive <keyword id="2419549" type="PERSON" weightage="20" keywordseo="ashwin-yardi">Ashwin Yardi</keyword>. </li></ul>French tech major Capgemini, which employs close to 1.15 lakh people in India, is looking to hire up to 30,000 employees in the country this year, as it seeks to derive more value from its presence here. The hiring will be evenly split between freshers and experienced professionals, or laterals, its country chief executive Ashwin Yardi told . The Indian workforce constitutes for over half of its global employees base. "India forms a very important part of our business and we will hire 25,000-30,000 people here this year on a gross basis," Yardi said. At present, it is focusing efforts on re-skilling employees for the technologies of the future, he said, adding that this has now become a continuous process. It has been found that youngsters under 30, who make up for over 65% of its workforce, show a keenness to learn, he said, adding that it is conducting special programmes for the mid-level managers having 10-15 years of experience who would be placed as project managers or architects. Yardi said there has not been any "restructuring or involuntary attrition" beyond the normal course of exits due to performance-related issues. Clients have become more demanding, wherein employees have to be moved into a project on an immediate basis, Yardi said, adding that the utilisation levels have not been because the training and skilling activities take place along side project work for an employee. He said there is sufficient space at Airoli (near Mumbai), its biggest development centre, and also added that it has created capacity at other centres over the last two years which can accommodate the new joinees. At a time when some of its peers are laying a lot of stress on research and development activities and are filing for patents, the company has taken a call not to do 'blue sky thinking' and adopt the "applied innovation" concept to come up with client specific improvements, he said. The company is also not keen to play on the products front and is happy being a services company, he said. It can be noted that many IT companies are focusing on products, and claim that it helps them maintain or widen profit margins. The French company is also not investing in startups unlike some peers, but working jointly with over 150 of them on critical technologies, Yardi said. He said the company believes in offering an entire bouquet of services to a client to meet the entire spectrum of needs, and discloses the work done by a startup to the client. It has also hired a chief innovation officer from a startup recently, he said. AA DRR

Capgemini to hire up to 30,000 employees in India this year

<ul><li>While a lot of companies are doling out pink slips, there are a few that are keeping their promises to new campus hires. </li><li>IT giants like TCS, Capgemini, Google, Accenture and Wipro said that they will honour all their employment offers. </li><li>Hindustan Unilever (HUL), Biocon, Bain &amp; Company, PepsiCo and <keyword id="136162" type="COMPANY" weightage="20" keywordseo="Boston-Consulting-Group">Boston Consulting Group</keyword> will also bring new recruits onboard. </li><li>A selected few companies are onboarding new hires virtually. “We will go ahead and deliver a 100% signature HUL experience virtually. Projects which required extensive fieldwork were tweaked slightly,” Anuradha Razdan, executive director (HR), HUL told TOI.</li></ul>While a lot of companies are doling out pink slips to employees or cutting salaries, there are a select few that are keeping their promises to new campus hires even in difficult times. In this thin list are IT giants like TCS, Capgemini, Google, Accenture and Wipro who said that they will <a href="https://m.timesofindia.com/business/india-business/many-large-cos-will-honour-hiring-pledge/amp_articleshow/75130365.cms">honour all the job offers</a> rolled out earlier. TCS and Wipro are hiring over 40,000 graduates this financial year while <keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> and Capgemini committed to bring all new hires onboard. According to a TOI report, Google is also bringing its fresh recruits onboard. It usually hires nearly 60 campus graduates every year in India. In February 2020, Cognizant announced that it will hire 20,000 ‘digitally ready’ freshers at an increased compensation of ₹400,000 per annum. But, given the current situation, the onboarding dates may vary because of the extended lockdown and completion of the academic programme. However, the promised ‘hike’ might be missing. Capgemini, on the other hand, <a href="https://www.businessinsider.in/careers/news/capgemini-and-cognizant-plan-to-hire-35000-freshers-in-india/articleshow/74173093.cms">rolled out over 4,000 offers to lateral hires</a> and offered 2,000 freshers in the quarter ending March. The tech giant is now planning to absorb all of them, the company told the Times of India. IIT freshers are not immune to Corona impact Even at the elite IITs, several companies postponed the joining dates, slashed salaries and are even considering revoking the job offers rolled out earlier. The institutes are now planning to conduct a second placement drive for those impacted by the withdrawals. Appealing to the recruiters, V <keyword id="168635" type="PERSON" weightage="20" keywordseo="Ramgopal-Rao">Ramgopal Rao</keyword>, director at the <keyword id="55119" type="COMPANY" weightage="20" keywordseo="Indian-Institute-of-Technology">Indian Institute of Technology</keyword> (IIT) Delhi <a href="https://www.businessinsider.in/careers/news/iit-and-iim-job-offers-are-fast-vanishing-and-a-second-placement-drive-in-july-might-be-underway/articleshow/75003350.cms">said</a> “These students are capable of getting you out of recession faster than you can imagine.” HUL, Biocon, Bain, Pepsi and BCG aim a stronger comeback Other than the IT giants, companies such as Hindustan Unilever (HUL), Biocon, Bain &amp; Company, PepsiCo and Boston Consulting Group are also hiring to come back stronger as the lockdown lifts. A selected few companies are onboarding new hires virtually. HUL already hired over 100 interns from the country’s top B-schools including Indian Institutes of Management (IIMs) and Narsee Monjee Institute of Management. “We said we will go ahead and deliver a 100% signature HUL experience virtually. Projects which required extensive fieldwork were tweaked slightly,” Anuradha Razdan, executive director (HR), HUL<a href="https://m.timesofindia.com/business/india-business/many-large-cos-will-honour-hiring-pledge/amp_articleshow/75130365.cms"> said</a>. Biocon will also onboard all its 250 new recruits. Megha Chawla, partner at Bain &amp; Company, told TOI that there won’t be an impact on campus hires as she anticipates a ‘solid bounce back’ once the lockdown is lifted. See also: <a href="https://www.businessinsider.in/careers/news/accenture-launches-people-work-connect-to-help-fired-employees-find-jobs/articleshow/75144624.cms">Accenture launches People+ Work connect to help fired employees find jobs</a> <a href="https://www.businessinsider.in/careers/news/over-136-million-jobs-are-at-risk-due-to-corona-lockdown-here-are-the-worst-hit-sectors/articleshow/74941658.cms">Over 136 million jobs are at risk due to Corona lockdown — Here are the worst-hit sectors</a> <a href="https://www.businessinsider.in/policy/economy/news/india-unemployment-job-losses-at-many-companies/articleshow/75130701.cms">India’s looming jobs crisis is starting to unravel within the first 21 days of coronavirus lockdown</a>

TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires

<ul><li>As much as 70% of the employees at the IT major <keyword id="10863" type="COMPANY" weightage="20" keywordseo="CapGemini">Capgemini</keyword> are getting a higher single-digit pay hike this year. </li><li>Its 84,000 employees will have increased pay, starting April 1. </li><li>The IT company rolled out over 4,000 job offers to lateral hires and to 2,000 freshers — and will absorb them all. </li><li>On similar lines, digital payments startup <keyword id="7349800" type="UNKNOWN" weightage="20" keywordseo="bharatpe">BharatPe</keyword> gave its employees a 20% <keyword id="6355281" type="UNKNOWN" weightage="20" keywordseo="Salary-hike">salary hike</keyword> while Cognizant announced 25% more pay on the base salary for the month of April.</li></ul>A large number of Indian companies are reeling under the Corona-induced lockdown, and hence choosing to either retrench or cut salaries. However, there are a few delightful exceptions who are offering hikes, even during difficult times. IT major Capgemini is giving 70% of its employees a higher single-digit pay hike this year. That helps 84,000 employees who will enjoy increased pay, starting April 1. The remaining staff will get appraisals in July, TOI <a href="https://timesofindia.indiatimes.com/business/india-business/capgemini-india-increases-salaries-grants-allowances/articleshow/75149348.cms">reports</a>. It is also one of the select few companies that is <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">absorbing all the new campus hires</a> it had extended offers to. It gave 4,000 job offers to lateral hires, and to 2,000 freshers in the quarter ending March. “This is a black swan event and at this point it’s not a question of timeline, but how our business will evolve. And we have a clear view as to what our economic model is going to look like and we don’t see any reason to discontinue this approach,” Ashwin Yardi, CEO at Capgemini India <a href="https://timesofindia.indiatimes.com/business/india-business/capgemini-india-increases-salaries-grants-allowances/articleshow/75149348.cms">told</a> TOI. The French IT multinational, with a heavy presence in India, is also giving away cash allowances worth ₹10,000 to employees who are not left with any means to relocate and are stranded without accommodation. In fact, the ‘shift allowance’ will now be extended to its ‘work from home’ employees as they practice social distancing. The company said that it will focus on retaining employees — even those on bench, who are not working on billable projects. Usually the grace period for those on bench is up to 60 days and IT majors generally have 8% of employees on the bench. Cognizant and BharatPe also hike salaries amid lockdown Digital payments startup BharatPe also decided to give its employees a hike. “I closed the appraisals two days ago and I have given a 20% hike to my employees. To me it’s like cycles will come and go, but can you keep your sanity and be ready to build a bigger business,” Ashneer Grover, CEO and co-founder, Bharatpe <a href="https://www.businessinsider.in/business/startups/news/bharatpe-gives-20-hike-to-its-employees-in-the-wake-of-the-coronavirus-crisis/articleshow/75091933.cms">told</a> Business Insider in an interview earlier. American IT multinational Cognizant too said it will bump wages for those up to the associate level. That’s almost two-thirds of its 200,000-strong workforce in India. It also announced 25% more pay on the base salary for the month of April to its employees in India and the Philippines as a “sign of gratitude” for their consistent efforts even during the pandemic. See also: <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires</a> <a href="https://www.businessinsider.in/careers/news/accenture-launches-people-work-connect-to-help-fired-employees-find-jobs/articleshow/75144624.cms">Accenture launches People+ Work connect to help fired employees find jobs</a>

Capgemini India, Cognizant and others who are giving salary hikes in times of Coronavirus

<ul><li>The Indian IT companies — <keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword>, <keyword id="10863" type="COMPANY" weightage="20" keywordseo="CapGemini">Capgemini</keyword>, Accenture, Wipro and <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> — faced over 30% visa rejections during the first three quarters of 2020 fiscal, shows a survey by the National Foundation for American Policy (NFAP). </li><li>With most of its workforce in India, Cognizant witnessed maximum denial rate at 60%.</li><li>NFAP reported a fourfold increase in the US visa rejections as compared to 2015 fiscal — at 24%. </li></ul>Under the Trump administration, increasing rejection rates for <keyword id="931341" type="PERSON" weightage="20" keywordseo="H1-B-visas">H1-B visas</keyword> is throwing up hurdles, especially for the IT majors. The Indian IT companies — Cognizant, Capgemini, Accenture, Wipro and Infosys — faced <a href="https://www.indiatoday.in/business/story/us-makes-getting-h-1b-visa-harder-indian-techies-hit-1614037-2019-10-30">over 30% visa rejections</a> during the first three quarters of 2020 fiscal, shows a survey by the National Foundation for American Policy (NFAP). Cognizant witnessed maximum denial rate at 60%. In 2018, Cognizant faced nearly 3,548 rejections for work visas extension, which is so far the highest for any company hiring foreign employees. “The denial rates for H-1B petitions have increased because USCIS has changed the standards for approval without new regulations or Congress passing a new law,” Stuart Anderson, executive director of NFAP <a href="https://economictimes.indiatimes.com/nri/visa-and-immigration/a-fourth-of-all-new-h-1b-visa-requests-rejected/articleshow/71812876.cms">told</a> ET. The study data is in contrast with the data by the United States Citizenship and Immigration Services (USCIS), which said that the <a href="https://www.businessinsider.in/careers/news/despite-tighter-norms-the-us-approves-389000-h1-b-visas-this-year/articleshow/71574716.cms">US approved more H1-B visas</a> this year — both entry level and work visa extensions. It said that it extended over 389,000 visas in 2019 fiscal — higher than 335,000 visas approved last year. NFAP data says that US visa rejections grew from 6% in 2015 to 24% in 2019. Indian IT employees account for over 70% of the H1-B visas. Adding to this, the US also announced that it will prefer professionals with a US master's degree when it comes to extending visas. Last year, Deloitte Consulting and Apple received the most number of H1-B visas, while only HCL from India made it to the top 10 list with a total of 5,085 certifications in the US, a<a href="https://trak.in/tags/business/2019/02/16/deloitte-apple-grab-most-number-of-h1b-visas-hcl-only-indian-company-in-top-10-list/">ccording to</a> data with the US Department of Labour. H1-B work visas are initially provided for three years — but can be extended for a similar term later. See also: <a href="https://www.businessinsider.in/careers/news/despite-tighter-norms-the-us-approves-389000-h1-b-visas-this-year/articleshow/71574716.cms">Despite tighter norms, the US approves 389,000 H1-B visas this year</a> <a href="https://www.businessinsider.in/the-us-government-wants-to-check-social-media-handles-before-giving-a-green-card/articleshow/71003314.cms">The US government wants to check social media handles before giving a green card</a> <a href="https://www.businessinsider.in/indians-studying-in-the-uk-have-doubled-in-the-last-three-years/articleshow/70804829.cms">Indians studying in the UK have doubled in the last three years</a>

H-1B visa rejection rates rise sharply — 30% of Cognizant, Capgemini, Accenture, Wipro and Infosys applications denied

<ul><li><keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> temporarily froze hiring, promotions and appraisals in view of the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> pandemic. </li><li>It will onboard all the campus and lateral hires to whom they made job offers. </li><li>However, Pravin Rao, COO at Infosys, did not hint of any furloughs or layoffs. </li><li>The company said that all the 6,000 trainees will now continue their training remotely. “There are assessments, certifications and other online training to facilitate remote programmes,” Rao added. </li><li>Rao said that the company is planning to make more than 35,000 offers in FY21.</li></ul>Infosys, in its latest earnings call, said that it has temporarily froze hiring, promotions and appraisals in view of the Coronavirus pandemic, calling it a ‘no regret’ move. For IT giants wages, employee costs and campus placement drives make up for over half of its operational costs. ‘We will honour all offers made — freshers and lateral hires’ Infosys however said that it will onboard all the campus hires. With this, it joins the likes of Accenture, Tata Consultancy Sevices (TCS) and other tech giants who will honour all the job offers made in the last financial year. A large number of companies have rescinded campus job offers forcing even IITs to hold a second placement drive in late July and August. “We are yet to onboard only a small percentage of campus hires we made offers to so far,” said Pravin Rao, COO at Infosys. The technology multinational made 18,000 job offers the last financial year. It said it will also onboard the lateral hires. “We will honour all the commitments made to campus hires — freshers as well as lateral. As far as onboarding timelines are concerned, we have already hired a few lateral employees, while in lockdown,” he said during its Q4 earnings call. Employee count decreases by over 1,000 <div type="image" title="infy employees" msid="75253862" hostid="261"></div> There has been a decrease in the employee headcount — by over 1,000. The employee count at Infosys stood at 243,454 during the third quarter ending in December 2019 — higher than 242,371 as of March 2020. “We should not read into the fall in employee count, it is not a secular trend,” Rao said. He did not hint any furloughs or layoffs, given the Coronavirus chaos. Going forward, Rao said that the company is planning to make more than 35,000 offers in FY21. “In the near term, there will be a demand-supply mismatch because we were already geared for high volume in the first quarter. We have to ensure that the utilisation rates go up,” said Nilanjan Roy, CFO at Infosys. Remote assessment for nearly 6,000 trainees Infosys claims to have a strong digital footprint. The company said that all the 6,000 trainees will now continue their training remotely. “There are assessments, certifications and other online training to facilitate remote programmes,” Rao added. In fact, as much as 93% of the employees at Infosys are now working from home, thanks to the lockdown. The focus is on employee safety. “We will revisit as the situation evolves, keeping the safety of employees a priority. We will also take initiatives like temperature check etc,” the company said. However, as a new normal emerges after the lockdown ends, just like TCS, Infosys also plans to retain work from home. See also: <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires </a> <a href="https://www.businessinsider.in/careers/news/capgemini-india-cognizant-and-others-who-are-giving-salary-hikes-in-times-of-coronavirus/articleshow/75151960.cms">Capgemini India, Cognizant and others who are giving salary hikes in times of Coronavirus</a>

Infosys has a new 'no regret' policy when it comes to employees

Indian IT companies are doing anything to hire talent in overseas markets. To increase the headcount, they are <keyword id="4677161" type="UNKNOWN" weightage="20" keywordseo="poaching-talent">poaching talent</keyword> from rival companies. In this poaching war, <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> is leading the race as it hired 12 executives from Cognizant, 13 from Capgemini, 5 from <keyword id="6357150" type="CITY" weightage="20" keywordseo="TCS">TCS</keyword>, and 8 each from <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword>, Accenture and IBM in the fiscal year ended March. Infosys said it will hire 10, 000 people in the US in next two years and has ramped up its efforts to get best of talent in the industry. "The talent arms race has started with gusto,” Phil Fersht, chief executive of IT consultancy HfS Research told ET. "The race for talent is not new. We have always been competing for talent. But, yes, now we will need more talent onshore than in the past,” UB Pravin Rao, chief operating officer at Infosys, told ET last month. Meanwhile, Cognizant will hire from campuses. "We have been hiring technology and management from dozens of US campuses as well as from the lateral market. We have made a number of acquisitions and also rebadged employees from our customer organisations,” said Debashis Chatterjee, president, digital systems and technology, at Cognizant.

Indian IT companies are poaching talent to hire overseas; Infosys is leading the race

<div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/53f0d9606da811813299da86-1200-858/rtr2rvi2.jpg" border="0" alt="obama linkedin jeff wiener">REUTERS/Jason ReedU.S. President Barack Obama participates in a LinkedIn town hall-style meeting with LinkedIn CEO Jeff Weiner (L) in Mountain View, California, September 26, 2011. </img></div></div></div> A LOT of room in an office is a sign either of a blossoming company or a shrivelling one. Happily for Frank Han, the empty space at Kenandy, a cloud-computing company in Redwood City, a few miles south of San Francisco, indicates the former. 
As manager of "talent acquisition", he is busy filling it. Since he joined Kenandy last October, Mr Han has recruited 32 of the nearly 80 staff. At some point when hiring half of them, he used LinkedIn.
LinkedIn, based a bit farther south in Mountain View, had its origins in 2002 as a "network of people", says Allen Blue, one of its founders. "We had in mind a tool for ourselves," he explains, "and we were entrepreneurs." People starting a business may have a little money, but no office, no team and no big institutions behind them. "So much of what entrepreneurs need is about interrelationships."
<div class="KonaFilter image-container display-table float_right"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/53f0d8856bb3f727184213d0-780-606/screen shot 2014-08-17 at 12.27.49 pm.png" border="0" alt="Screen Shot 2014 08 17 at 12.27.49 PM">The Economist</img></div></div></div>Since then LinkedIn has spread far beyond Silicon Valley. It is an online contact book, curriculum vitae and publishing platform for anyone wanting to make their way in the world of work. Its membership has almost trebled in the past three years, to 313m (see chart 1); two-thirds of them live outside America.
Most are professionals, mainly graduates, neither at the apex of the corporate pyramid nor at its base. "It's a presence in your life that wasn't there a few years ago," says a member who works for a firm of accountants. "You can't walk into a room without everyone having looked everyone else up on LinkedIn."
Most members pay nothing to list details of their education and career, to be told about jobs, to "endorse" each other's skills, to read recommended articles-and to be annoyed with endless requests from people wanting to "connect" with them. Some pay a premium subscription for a customised profile, a bigger photograph, and the right to send 25 e-mails a month to other members (even if they are not connections already). Premium subscriptions bring in one-fifth of LinkedIn's revenue, which amounted to $534m in the second quarter, 47% more than a year before. (It reported a small net loss, largely because of a charge for share-based compensation.)
Yet LinkedIn is more than just a means for aspiring professionals to make friends and influence people. It has changed the market for their labour-how they find jobs and how employers find them. By bringing so many professionals into one digital place, it has become a honeypot for folk like Mr Han. One corporate recruiter after another calls it a "game-changer".
But LinkedIn's ambitions do not end there. They are limited only by the size of the world's labour market. Its chief executive, Jeff Weiner, envisions what he calls a vast "economic graph", connecting people seeking or starting work or wanting more from their careers. That implies an eventual membership of 3 billion-Mr Weiner's estimate of the global labour force. In other words, LinkedIn wants to change not only the business of recruiting, but also the operation of labour markets and, with that, the efficiency of economies.
<h2>The 60% solution</h2>
Recruiters are LinkedIn's main source of revenue. They pay for licences to trawl for likely job candidates and to e-mail them about vacancies, as well as for placing advertisements on the site. This business-called "talent solutions"-accounts for about three-fifths of sales. It allows recruiters to be more precise about the groups to search in order to find people to hire-people who attended certain universities, say. Rajesh Ahuja, the senior recruiter in Europe and Asia at Infosys, an Indian software company, focused a recent effort to hire 200 MBA students on graduates of several hundred colleges.
LinkedIn's main benefit to recruiters has been to make it easier to identify people who are not looking for a new job, but who might move if the right offer came along. These "passive" jobseekers, says Dan Shapero, head of sales in the firm's talent-solutions business, make up perhaps 60% of the membership (active jobseekers make up 25%; those who will not budge for any money make up the rest).
LinkedIn has made it easier for companies to identify such people themselves, rather than rely on recruitment agencies. In that sense, it represents a challenge to the agencies. Mr Ahuja says that two years ago he used external agencies to fill 70% of open positions in Europe. Now their share is 16%. Steven Baert, head of human resources at Novartis, a pharmaceuticals firm, says he hired "at least 250 people through LinkedIn last year when we might have used executive search in the past."
The agencies have not been put out of business, but they have to do more than just compile a list of names, which in-house recruiters can now do for themselves. Agencies will still be used in the later stages of hiring-working out who is likely to fit in, for instance. Since LinkedIn greatly increases the number of potential candidates, there also is more sifting to be done. Some recruiters say they are spending as much on agencies as they used to.
For the top jobs, LinkedIn is still too public. Denizens of the executive suites often expect a discreet tap on the shoulder from a bespoke headhunting firm. That is why Korn/Ferry, one of the biggest headhunting firms, reported record revenues and profits last year. Even so, LinkedIn is working its way up the greasy pole. Hubert Giraud, head of human resources at Capgemini, a French consulting firm, reports that last year he used it in the hiring of 33 managers in India. "I don't have to pay headhunters hefty money even to reach out to senior people," says Mr Ahuja.
Even outside the executive suite, LinkedIn is not ubiquitous. A French rival, Viadeo, is bigger in France and China (see "Viadeo: Nipping at LinkedIn's heels")-although LinkedIn launched a site in simplified Chinese in February. In Germany recruiters are more likely to use Xing.
LinkedIn makes planning ahead easier: firms know whom to approach before they start a recruitment drive. "When we're expanding, we've already identified them," says Mr Baert. It improves certain kinds of specialist recruitment because, when trawling for scarce skills, it is better to fish in a bigger pool. Glenn Cook, director of global staffing at Boeing, says LinkedIn is a good source of specialised aircraft mechanics. "You wouldn't necessarily think these folks would be on LinkedIn, but they are." He reckons it is easier to fill posts that used to be vacant for "six or eight months".
<div class="KonaFilter image-container display-table float_right"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/53f0d88569bedd76504213cd-488-627/screen shot 2014-08-17 at 12.28.24 pm.png" border="0" alt="Screen Shot 2014 08 17 at 12.28.24 PM">The Economist</img></div></div></div>It is true that LinkedIn makes it easier to lose people as well as to find them, because they are on permanent display to competitors and headhunters. But companies see this glass as half full, not half empty-and, anyway, their employees have joined in large numbers whether they like it or not (see chart 2).
Mr Giraud says that when he ran Capgemini's business-process outsourcing unit he encouraged all his 15,000 staff to join. "I thought it would be fantastic to have a nice profile...to make sure our business partners had a clear view of who we were."
LinkedIn also helps recruiters scour their own companies for talent: firms are often poor at spotting what is right under their noses. Marie-Bernard Delom, who has the task of identifying high-fliers at Orange, a French telecoms company, is using LinkedIn for that reason. She has commissioned software that combines LinkedIn profiles with internal data.
Companies can also see how they measure up against others trying to hire the same people. They can do so using LinkedIn in combination with other sites such as Glassdoor, where people anonymously rate the places where they work or have been interviewed. Mr Shapero calls this a "sales and marketing process", in which companies treat their reputations as employers like brands.
<div class="KonaFilter image-container display-table float_right"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/53f0d8856bb3f710234213cf-567-620/screen shot 2014-08-17 at 12.28.41 pm.png" border="0" alt="Screen Shot 2014 08 17 at 12.28.41 PM">The Economist</img></div></div></div>They can track how many staff have quit to join the competition, as well as how many are coming the other way. LinkedIn members can "follow" companies they do not work for, another loose indicator of potential interest in a job: both Novartis and Infosys boast 500,000. American tech giants have many more (see chart 3).
As LinkedIn attracts more members in more countries and industries, its data will become richer. Put another way, the lines in Mr Weiner's graph will become more numerous-and more useful.
He thinks that if you trace the connections between workers, companies and colleges, and if you map people's jobs, qualifications and skills and plot these against employers' demands, you will end up with a step-change improvement in information about labour markets: big data for the world of work.
<h2>The world's labour exchange</h2>
And that, in principle, should help labour markets work more smoothly, potentially reducing Europe's youth unemployment rate, for example; or matching some of America's 20m underemployed with its 4.7m vacancies; or helping the millions of Chinese expected to migrate from the countryside to cities to find work.
Such hopes are remarkably ambitious. They amount to a gargantuan exercise in eradicating the mismatch between the skills people have and those employers want, or between the places jobs are on offer and those where people live.
As Mr Blue concedes, "there are real barriers that we haven't even begun to face yet." LinkedIn is only starting to reach beyond professionals, for example. Eventually it may have even to think, as Amazon, Facebook and Google are doing, about providing internet access in remote parts of the world; but that is far ahead.
Still, LinkedIn is starting to do more than just find and fill professional jobs. Undergraduates can see how many of their predecessors have ended up in given companies or professions, to help them plot their own paths. (Those who graduated years ago can do the same for their classmates, and laugh or weep accordingly.)
Some companies have begun to use LinkedIn's data to help them decide where to open new offices and factories. By looking at the skills on offer-at least among the network's members-and demand for them in different parts of the United States, LinkedIn's data scientists can identify "hidden gems" where there are plenty of potentially suitable employees but little competition for their services.
Perhaps most significant, LinkedIn has started to feel its way beyond professionals. Since early June the number of jobs on its site has jumped from 350,000 to about 1m. As well as openings for software engineers at IBM can be found jobs as delivery drivers for Pizza Hut or on the tills at Home Depot-which until now no one would have expected to find there. This is because LinkedIn has added jobs from employers' websites or human-resources databases to its existing paid advertisements.
Unlike paid ads, the new ones are seen only by members who are actively seeking jobs. The idea is being tested only in America so far. But if delivery drivers and checkout clerks start to look for and find jobs on the site, LinkedIn will have taken a step towards becoming a much broader job shop.
It is hard to know what its eventual effect might be. Even if Mr Weiner's grand vision were realised, it could not cure global unemployment on its own, though richer data ought to make a difference. In explaining high unemployment rates in Western economies, many economists would put more weight on weak aggregate demand than on a mismatch of location or skills.
It is even difficult to quantify the impact of LinkedIn on labour markets so far. In theory, making it easier for people to find better jobs could affect the rate of job turnover within firms: recruiters say they have noticed little impact, and that other factors (such as the economic cycle)-seem to matter more. But no one really knows.
As LinkedIn's data pool deepens, its value to researchers as well as its members and corporate customers will increase. Pian Shu, an economist at Harvard Business School, points out that you could compare the career paths of those who graduate in recessions with those who graduate in booms: do the former, as you might suppose, fare worse?
Aiding academic research is not LinkedIn's priority. But its interest to economists is a sign of how pervasive it has become. "I'm on there until midnight a lot," says Mr Han, of his quest to find the right people for Kenandy. "I'm hooked."
Click <a href="https://subscriptions.economist.com/nwcd">here</a> to subscribe to The Economist

LinkedIn Has Already Shaken Up The Way Professionals Are Hired - And It's Just Getting Started

<ul><li><keyword id="234007" type="PERSON" weightage="20" keywordseo="Renuka-Ramnath">Renuka Ramnath</keyword>, the founder of Multiples Assets Management, has been appointed as the chairperson of Indian Private Equity &amp; Venture Capital Association (<keyword id="214382" type="ORGANIZATION" weightage="20" keywordseo="IVCA">IVCA</keyword>).</li><li>She is the first female chairperson of the association. </li><li>Ramnath earlier was the MD &amp; CEO of ICICI Venture – specialist alternative assets manager. She went on to make it one of India’s leading PE funds.</li></ul>Renuka Ramnath, the founder of Multiples Assets Management, became the first female chairperson of Indian Private Equity &amp; Venture Capital Association (IVCA). Karthik Reddy, Partner, Blume Ventures has been appointed as vice chairperson. “In the years to come, our industry will remain more relevant than ever in the Indian economy, supplying the capital to sustain and grow companies and bolster entrepreneurship. Our focus areas remain working with the government and regulatory bodies to build and grow our industry through continuous dialogue and a partnership approach with all our stakeholders,” Ramnath said on her appointment. The Harvard graduate was earlier the MD &amp; CEO of ICICI Ventures. She is credited with turning it into one of India’s leading PE funds. Later, she found her own investment firm, Multiples in 2009. “Multiples is a culmination of my beliefs, experiences and relationships coming together to channelize high-quality, long-term capital towards the growth of the Indian economy,” she says on the <a href="http://www.multiplesequity.com/renuka-ramnath">website.</a> At Multiples, Ramnath has placed bets on many unicorns like Dream11, Delhivery and banks like RBL, South Indian Bank. Retail giant Arvind Fashion is also one of the companies she has invested in. With a career spanning over 30 years, Ramnath believes that her journey in investment banking has empowered her with experience in “handling complex business and financial situations, tackling unpredictable market conditions, building highly capable teams, and lasting relationships with clients”. In her free time, the mother of two enjoys listening to classical music. See Also: <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires</a>

Renuka Ramnath becomes the first female chairperson of India’s venture capital association

The <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> Wednesday listed for final hearing on December 2 the cross appeals filed by Tata Sons and Cyrus Investments against appellate tribunal NCLAT's order which had restored <keyword id="6356895" type="ORGANIZATION" weightage="20" keywordseo="cyrus-mistry">Cyrus Mistry</keyword> as the executive chairman of the over USD 100 billion salt-to-software Tata conglomerate. A bench headed by Chief Justice S A Bobde questioned senior advocate C A Sundaram, appearing for Cyrus Mistry and his firms, for filing applications repeatedly when the case was already listed for final hearing. "Why are you filing IAs (interlocutory applications)after IAs when the matter is already listed for final hearing," said the bench, also comprising Justices A S Bopanna and V Ramasubramanian, asked Sundaram. When Sundaram said they want to bring something new to the apex court's notice, the bench said, "Won't these issues be covered in the final hearing? All the issues which you are raising in these IAs can be taken up during the final hearing." Senior advocate A M Singhvi, appearing for Tata Sons Pvt Ltd, said that the apex court had on September 22 already fixed the matter for final disposal. "List the matters on December 2 for final disposal," the bench said in its order. The top court had on September 22 restrained Shapoorji Pallonji (SP) Group and Cyrus Mistry as also his investment firm from pledging or transferring their shares of Tata Sons Pvt Ltd (TSPL). SP Group, which owns 18.37 per cent in Tata Sons, has said TSPL moved the top court to block its plan to pledge shares for raising funds and that reeked of vindictiveness and oppression of minority shareholder rights. On September 5, Tata Sons had moved the top court seeking to restrain the Mistry group from raising capital against their shares. It sought to prevent SP Group from creating any direct or indirect pledge of shares. SP Group was planning to raise Rs 11,000 crore from various funds and had signed a deal with a marquee Canadian investor for Rs 3,750 crore in the first tranche against a portion of its 18.37 per cent stake in Tata Sons. The SP Group share holding in the country's largest business house is valued at over Rs 1 lakh crore. TSPL had earlier told the top court that it was not a 'two-group company' and there was no 'quasi-partnership' between it and Cyrus Investments Pvt Ltd. TSPL had said this in an affidavit filed in the apex court while responding to the cross-appeal filed by Cyrus Investments seeking removal of alleged anomalies in the NCLAT order for getting representation on the TSPL's board in proportion to the stakes held by his family. The apex court had on January 10 granted relief to <keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata group</keyword> by staying the National Company Law Appellate Tribunal (NCLAT) order of December 18 last year by which Mistry was restored as the executive chairman of the conglomerate. Mistry had succeeded Ratan Tata as chairman of Tata Sons in 2012 but was ousted four years later. The top court had also observed there were "lacunae" in the orders passed by the tribunal. Then, on May 29, it had issued notice to TSPL and others on a cross-appeal filed by Cyrus Investments Pvt Ltd. Mistry had also filed an affidavit to the apex court saying the Tata Group had an adjusted net loss of Rs 13,000 crore in 2019 -- the worst losses in three decades. In his reply to the Tatas' petition challenging his reinstatement by the NCLAT last December, Mistry had also demanded that group chairman emeritus Ratan Tata should reimburse all the expenses to Tata Sons since his departure in December 2012 in keeping with best global governance standards. Mistry is seeking representation in the company in proportion to the 18.37 per cent stake held by his family, the cross-appeal has said. In its affidavit filed in the top court, Tata Sons has alleged that the thrust of Cyrus Investments' focus "has now shifted to propagating the quasi-partnership theory to secure the relief of 'proportionate representation'." According to the petition, the Mistry group firm has sought remedies for many anomalies in the NCLAT order, including not looking at alleged oppression of minority shareholders as well as converting Tata Sons into a private limited company as a post-facto move. As per the petition, the tribunal order clearly and unequivocally found the prejudicial conduct by Tata Sons, but failed to provide certain important reliefs that would have put an end to the oppressive conduct of the majority shareholder. Reinstating Mistry as the chairman, NCLAT had also termed the action of the Registrar of Companies to allow conversion of Tata Sons into a private limited company illegal. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/lakshmi-vilas-bank-is-the-fifth-financial-firm-after-ilfs-dhfl-yes-bank-and-pmc-bank-to-collapse-in-india/slidelist/79286096.cms">Lakshmi Vilas Bank is the fifth financial firm to collapse in India within the last 30 months</a> <a href="https://www.businessinsider.in/science/health/news/pfizers-new-covid-19-vaccine-is-95-effective-and-the-only-severe-side-effect-to-worry-about-is-fatigue-according-to-the-final-results/articleshow/79284286.cms">Pfizer's new COVID-19 vaccine is 95% effective and the only severe side-effect to worry about is fatigue, according to the final results</a> <a href="https://www.businessinsider.in/finance/banks/news/lakshmi-vilas-bank-customers-have-withdrawn-10000-crore-since-rbis-moratorium-was-announced-last-night/articleshow/79281857.cms">Lakshmi Vilas Bank customers have withdrawn ₹10,000 crore since RBI's moratorium was announced last night</a> <a href="https://www.businessinsider.in/careers/news/capgemini-hr-head-explains-why-the-french-it-major-is-going-crazy-hiring-in-india-and-around-the-world/articleshow/79277396.cms">EXCLUSIVE: Capgemini HR head explains why the French IT major is going crazy hiring in India and around the world</a>

The Tata Group versus Cyrus Mistry court room battle will see its final match on December 2

<img class="gwt-Image" src="/photo/57233577.cms" /> 
 With the domestic IT industry staring at a shift in nature of work due to increasing use of digital technologies, a leading firm has said a majority of the workforce cannot imbibe the required emerging skill-sets, and warned of high job losses at the middle and senior levels, according to news report by PTI. 
 
"I am not very pessimistic, but it is a challenging task and I tend to believe that 60-65 per cent of them are just not trainable," Capgemini India's chief executive Srinivas Kandula told the agency over the weekend. 
 
The domestic arm of the French IT major employs nearly one lakh engineers in the country. 
 
"A large number of them cannot be trained. Probably, India will witness the largest unemployment in the middle level to senior level," he said at the annual Nasscom leadership summit here over the weekend. 
 
He also flagged concerns surrounding the quality of IT workforce, saying much of the 3.9 million IT employees come from low-grade engineering colleges which do not follow rigorous grading patterns for students in their zeal to maintain good records. 
 
The remarks come days after the industry lobby Nasscom said there is a need to re-train up to 1.5 million, or nearly half of its sectoral workforce. This is primarily on the back of a change in nature of work in newer, digital technologies. 
 
Kandula said the industry, driven by yield-seeking investors, has not invested enough to upgrade the skill-sets of its employees. 
He also said more number of students are now being hired from lower grade engineering colleges, which has ensured that the rise in wages has been negative by a huge margin. 
 
Kandula said as against offers of Rs 2.25 lakh per annum that used to go out for freshers two decades ago, they have risen only to Rs 3.5 lakh now, which suggests a massive decrease in real wages from an inflation-adjusted perspective. 
 
"For some unknown reasons, we call it a knowledge- driven industry. If you have that kind of talent, and then making them learn the existing technology itself is such a huge challenge," he said. 
 
The quality of the students who are coming in is so bad that many of them are not able to answer, when asked about the subjects taught to them when they were in the final semester of their engineering degrees, he said. 
 
The critical remarks come months after a study found out that as much as 80 per cent of engineering graduates are unemployable. 
Kandula had last week told that his company would shift focus to hiring freshers from the laterals earlier due to the newer skill-sets which are required and the ease of training which the freshers offer. He, however, had maintained that the company will continue to hire.

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