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The Times of India Monday December 31, 2007
Bumper year for city in IT hiring |
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The Hindu Business Line Monday December 24, 2007
De-risking the staffing business |
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The Economic Times Thursday December 12, 2007
Career detours:Pursue dreams amid sabbatical breaks |
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The Economic Times Thursday November 29, 2007
Rupee blow : IT cos to go slow on hiring support staff |
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The Hindu Business Line Monday November 26, 2007
Building high performance teams |
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The Economic Times Tuesday November 13, 2007
IT giants fine-tune bench management |
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The Hindu Friday November 2, 2007
IT companies tighten purse strings to cut costs |
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Times of India, Sept 17, 2007
Indian tech campuses turn melting pots of diversities |
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Times of India, August 23, 2007
IT companies create shadow talent pool |
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Economic Times, August 22, 2007
IT companies show the door to deadwoods |
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Times of India, June 26, 2007
Bubble CEOs’ fill vacuum on top |
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DNA, June 15, 2007
Men are top job ditchers, women loyal, says study |
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Economic Times, May 28, 2007
Recruitment Sector gets into M&A mode |
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Times of India, May 03, 2007
Women slam move to ban night shift |
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Business Line, March 06, 2007
Venture Capital firms' move to recruit, retain talent |
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Business Line, March 01, 2007
Union Budget 2007-08 for Women |
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Times of India, Feb 22, 2007
Talent also has a shelf-life |
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IT companies tighten purse strings to cut costs |
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The Hindu |
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November 2, 2007 |
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Anjali Prayag |
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Several options on the board to tide over rising rupee
Annual pay hikes could see a dip of 12-15 per cent in April 2008 Companies are also considering hiring part-time talent
Bangalore: Indian information technology companies, hit by the spiralling rupee, are cutting costs across the board. Companies are considering controlling wage costs, salary being one of the highest expenses for an IT services firm. But drastic cuts in recruitment will not be possible as there is still a steady flow of business, said IT human resource managers. “There is a strong move towards cost utilisation to offset the 8-9 per cent rupee rise impact,” said Pallab Bandyopadhyay, Chief People Officer, Cambridge Solutions.
Reductions
Companies are therefore proactively reducing bench strength (by almost 20 per cent), reducing recruitment costs incurred in brand building exercises, and are using video conferencing instead of flying in prospective candidates. They are even delaying joining date for campus hires. “There could be a drastic cut in the annual increments this year,” said Nirupama V.G., Managing Director, Ad Astra Consultants, a Bangalore-based recruitment firm.
Annual pay hikes, which hovered around 20-25 per cent, could be in the region of 12-15 per cent in April 2008, she predicted.
Campus recruits faced delays in getting joining dates this year, said Rishi Das, CEO, Campus Connect, a firm that helps build relationships between tech colleges and IT firms.
Delay in hiring
Hit by the rising rupee, several IT companies decided to utilise their benches completely before taking in fresh recruits. “But now, most campus recruits have either been absorbed or have been given a joining date to campus hires, though there was a delay of three to four months,” said Mr. Das. ‘Just in time’ hiring is one of the ways IT firms are battling the strengthening rupee and the rising wage costs. Companies are also considering hiring part-time talent during peak periods and a couple of companies have approached Ad Astra for contract employment, according to Ms. Nirupama.
Other options
Hiring is just one aspect where costs can be cut. Other options being experimented with are longer working hours and cutting other cost areas such as foreign travel, F&B bills, offsite meetings and advertising. Elango R., chief of Human Resources, MphasiS, EDS, said companies that were callous in spending will now bring in efficiency and this could temper some of the irrational exuberance in wage increases.
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