Grim fresher's hiring 2024 Xpheno and Longhouse Consulting are dissecting the disease

As always, very insightful data from Xpheno.

https://www.linkedin.com/posts/mrinalkrant_freshers-hiring-activity-7204015380963495936-nMVt?utm_source=share&utm_medium=member_desktop

ET in Jan 2024 quoted Xpheno while highlighting facts at Indian IT Services over the past 2 years on the hiring freeze, to the levels of 60% down in just 2 years.

80% of the data they sampled came from 0–2 years of experience.
So, certainly the bottom of the pyramid, aka freshmen, got the worst hit!
On the other hand, under pressure from US government, Indian IT services Majors like TCS, Infosys, Wipro, HCL Tech, and LTI have together added 142,000 staff to their US offices. This 1.4L is just 2% of the total IT staff in the US, and their IT hiring in the US is growing by around 2.1% YoY, while Indian IT services firms look at negative growth!
Net-Net, this Freshers glut now in Indian IT services gates has reached an alarming number. Anshuman Das as quoted by the ET recently expressed concern over this glut building at the bottom of the IT services talent pyramid in India.
I personally witnessed the challenge of being on bench by even the IIT D (Anshuman alma mater) dual degree grad, who in last 2 years of his campus hiring, hardly had project billable work for 6 months in this 3.5K sized globally distributed tech and Analytics firm. No wonder, he wrote CAT and joined IIM Bangalore for his MBA.
Campus hires to soon on bench for eternity is also a trend that has built over last 2 years...
Xpheno and LONGHOUSE Consulting must also be reading these trends..

Comments

What is The Hay Group Total Reward Framework

The Hay Group Total Reward Framework A new way of understanding reward Reward strategies must be anchored in business reality to be effective. Which means linking it to your business strategy – and the needs of your employees as well as your organisation. Our Total Reward Framework helps you optimise reward, no matter how challenging the conditions. The issue Remuneration tends to be one of the worst-managed parts of an organisation’s cost structure. But with 10-70 per cent of total costs wrapped up in it, reward cannot be ignored, particularly in a downturn. To be effective, reward programmes must reflect the needs of the business, now and in the future. Only if they are tied closely to company strategy, business performance and the needs of employees can reward programmes deliver the ROI that is needed in tough times[MK1] . The Hay Group Total Reward Framework takes strategy as a starting point – and it focuses on total reward: every financial measure together with no...

Aon Hewitt Total Rewards Framework

Aon Hewitt Total Rewards Framework The Aon Hewitt model and approach believes in considering Total Rewards as a business tool and very much linked to overall business objectives! Reward as understood is a very complex mechanism and some efforts of correcting the base pay and titling in a hurry by many MNCs in India have done a bigger crime by trying to correct it by market adjustments without looking at the talent map, complexity and expectations out of role and mapping it against the benchmark. Titles in India are a big misnomer and hardly any survey on compensation ever probes and captures and calibrates the tangible outcome based bench marking! If we dive deep, we will find that the key factors of Education, Experience and Quality of Education, Quality and relevance of experience and education are not calculated granular! A diploma holder technical manager gets the salary benchmarked for the top T-school manager with top quality experience in a challenging and break-through...

Why Organizations are so BAD at Talent Management? A curious case below..

Founded in 2019 in South San Francisco, ProcDNA has grown 2x in 24 months....from 100 to 200 as of Feb 25th as you see the snapshot below. I was looking at their India staff data looking actively for jobs as evident on Naukri.com, a leading job portal in India. For past 30 days, 39 staff in India looking out actively. If you check for past 2 months, this number inflates to 49. Median tenure of staff here is 8 months. What interests me are the following: 27 jobs posted on LinkedIn and 9 out of them are just repetitions. Same job posted many times (5x at times). There is only 1 Director level job is up there as far as senior open roles are concerned. Many jobs have titles like Senior/Associate/Assistant Engagement Lead, etc. Below are 4 senior staff in key roles who are active on Naukri.com , looking for next job. What's wrong here? Nothing....they are just looking out...:) ....But that's a self fulfilling thought, right, especially when you are the co...

Reflections: the stoic way!

Search This Blog