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Infosys may hire over 55,000 freshers in FY23, says CEO Salil Parekh

By Priyanka Verma 
Updated Date

Bengaluru: Second-largest IT exporter Infosys may hire more than 55,000 fresh graduates from campuses in FY23 as it sees a very good runway for growth going forward, a top executive said on Wednesday,February 16.

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The Bengaluru-headquartered company’s chief executive Salil Parekh said there are tremendous opportunities awaiting engineering and science graduates in the tech sector, but urged them to internalise that it will be a career where they will have to learn new skills at shorter durations.

“We will recruit 55,000 college graduates in this financial year, which will end in a couple of months, and we will hire that or a higher number next year. Our approach has always been to be the best training providers,” Parekh said at the NASSCOM Technology and Leadership Forum 2022 (NTLF) on February 16.

He was in conversation with Noshir Kaka, Senior Partner, McKinsey. The three-day NTLF is being held from February 16-18.

The company has a comprehensive training programme—between six and 12 weeks—when college graduates join. They are trained on the firm’s methodologies and what it does, including cobalt, digital capabilities, so that they become productive quickly.

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“So, the key really to what we want to do with people and talent is to make sure first we are bringing in people now,” he said. Of the 55,000 the company is hiring this year, 52,000 are from India and 3,000 outside.

He said Infosys is targeting a 20 per cent jump in annual revenues in FY22 and this presents a great opportunity for a fresher to join the company and grow. For the young college students, Parekh said there are huge opportunities that await but urged them to be ready to imbibe new skills at shorter intervals.

The entrenched employees could do with reskilling themselves every decade as well, but the technology cycles will be much shorter going ahead and the young graduates will have to skill themselves every three to five years, he said.

Parekh added that Infosys sees a very good runway for growth in the future, which will be primarily led by the services built around the cloud. He reiterated that skilling employees for the work of the future will be among the focus areas.

With work coming from undertaking large scale digital transformation for clients, Parekh said his company is ready to work with the vendors of the client and other stakeholders.

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It can also integrate public cloud, private cloud and platform as a service work to serve the client needs. Amid the heightened response to software-as-a-service (Saas) offerings from India, Parekh said Infosys has transformed its banking offering Finacle and expects it to contribute larger sums for the company.

Equinox, which is a similar platform for the booming e-commerce sector, is also gaining traction and so is an offering on insurance as well, he said.

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