MNCs step up hiring in India to boost offshoring

By SiliconIndia   |   Wednesday, 28 January 2009, 13:29 Hrs   |    8 Comments
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MNCs step up hiring in India to boost offshoring
Bangalore: At a time when Indian software services companies are increasingly cutting down their hiring targets due to slowdown, MNCs seem to be on a hiring spree in India. Global players such as IBM, Accenture and Cap Gemini are all set to increase their hiring in the country, reported The Economic Times.

Accenture has decided to increase its workforce in India from around 37,000 to almost 50,000 in one year. Atos Origin, a European IT firm is looking to double its India headcount from 3,300 to 6,000 by 2010.

Seeing offshoring a better option to cut cost amidst downturn, Tesco, the world's second largest retailer, which has around 3,000 employees at its captive in Bangalore currently, is planning to hire few hundred more people. "We want this centre to become the engineering hub for us, and there is a lot of scope for scale expansion," said Mike McNamara, Operations and Information Technology Director, Tesco. The company is saving around $60 million every year by outsourcing to India.

As MNCs offer attractive opportunities to the skilled professionals working in Indian IT firms, the attrition rates of Indian firms would cross 11-13 percent and even more. "Our attrition rate is still around 11 percent, which is not significantly down," said Pratik Kumar, Executive Vice-President (HR), Wipro.

GC Jayaprakash, Principal Consultant, Stanton Chase International, opined that current openings in the IT industry have more to do with specific skills and for professionals who have five to seven years of experience.

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