Hexaware Technologies Set to Expand Workforce by 6,000 Amid Market Uncertainty
In order to meet its hiring goals for the current fiscal year. Hexaware Technologies expects to bring on 5,000 to 6,000 lateral hires. Data capabilities will be given priority, followed by digital engineering, app development, cloud infrastructure, and Java full-stack.
The compensation expectation hasn’t decreased to the pre-pandemic level, according to a Hexaware representative, but it has decreased from last year’s enormous spike. The joining ratio has also increased.
“Previously, the ‘highest no-show likelihood’ belonged to joiners. Any comparison shopping across different businesses was based on luck. Senthil Nayagam K, EVP of global revenue assurance and chief learning officer at Hexaware Technologies, told Moneycontrol that this has changed today.
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Nayagam said candidate expectations may further soften over the course of 4-6 months, suggesting that employers’ negotiating skills have improved in light of recent developments regarding the slowdown.
“The market is so unstable, and most businesses aren’t hiring. Where we are still hiring, and in a respectable amount, we stand out. He added that the offer-to-joining ratio has improved from pre-pandemic levels due to the fact that the brand is well-known in the market and candidates believe they shouldn’t lose the offer.
Hexaware onboarded around 4,500 people in 2022, taking its headcount to more than 28,000 employees. The employee retention rate also jumped from 68 percent in 2021 to 73 percent in 2022. Though it is still low compared to 2020 (80 percent).
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percent, a slight drop of 1 percent from a year earlier.
“Like everybody else, we have also seen attrition spiking, but I think that is stabilised and we did several HR interventions to what needs to be done to curtail it,” Nayagam said.
Concerning return-to-the-office plans, Hexaware is operating in a hybrid environment with no mandate for employees to report to the office.
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