HCLTech, a leading IT services provider, announced its commitment to a hiring strategy reminiscent of the previous year, aiming to onboard over 10,000 freshers in the fiscal year 2023-24.
HCLTech, a leading IT services provider, announced its commitment to a hiring strategy reminiscent of the previous year, aiming to onboard over 10,000 freshers in the fiscal year 2023-24. During the fourth quarter earnings call for the fiscal year 2023-24, the company revealed that it had added 3,096 new freshers to its workforce. Throughout the entire fiscal year, HCLTech recruited 12,141 freshers, bringing its total headcount to 227,481 employees by the fourth quarter's end.
The attrition rate for the fourth quarter saw a slight decrease, standing at 12.4 per cent compared to the previous quarter's 12.8 per cent.
“In FY24, we started with a target of hiring about 15,000 odd freshers...that was the go-in plan for the year, and we finished with adding more than 12,000. Given the volatility that we had through the year, we had to recalibrate our fresher hiring,” said Ramachandran Sundararajan, Chief People Officer of HCLTech.
“In the coming year, we expect hiring to be along similar lines, probably 10,000 plus is what we are planning for - as a fresher addition for FY25, which means that we continue to pursue our campus programmes as well as our fresher hiring programmes,” he added.
Sundararajan emphasized that the influx of freshers would be evenly spread across each quarter, contingent upon demand.
In terms of contract hiring, the company's focus lies in addressing demand through internal resources first. External contracts will be considered only if internal resources are insufficient, highlighting a strategy that prioritizes internal fulfilment before resorting to external arrangements.
“Contract hiring is always very tactical in nature. It is all driven based on how the demand is fulfilled internally. Only where we cannot meet demand internally, we make a tactical call for contract hiring and contract fulfilment,” said Sundararajan.
He further noted that the company witnessed a decrease in the need for contractual fulfilment throughout FY24.
“Looking ahead into FY25, our approach is going to be more focused on internal fulfilment, and we will build the capacity for that and invest in our skilling efforts to meet that goal. So contract staffing will continue to be tactical in nature, and it is going to support the demand that we cannot fulfil internally,” he added.