IT companies, which account for a majority of the placements, have started hitting engineering campuses. Campus hiring is an important indicator of growth, comes in the backdrop of macro-economic uncertainty for the industry. The IT companies that have started hiring at engineering campuses include TCS, Infosys, Wipro, Cognizant, HCL, Accenture and IBM.
Placement officials say that IT firms are visiting campuses but the numbers are likely to be less as Indian IT companies may cut back on campus hiring this year. However, MNCs were showing a lot of interest this year. Officials said that it would be difficult to achieve placement numbers like previous years.
Macro-economic uncertainty and low growth expectations combined with low utilisation and low attrition are likely to be the reasons for slow hiring. IT companies had hired 2 lakh freshers from various engineering campuses last year.
However, an analysis carried out by MyHiring-Club.com, a recruitment platform stated that hiring may be slowing down for technology companies, but hiring of technology professionals accounted for 31 per cent of the total hiring done by the non-IT sector in the country in the first half of calendar 2012. This is up from 22 per cent in the same period last year.
ET had earlier reported that the first flush of pre-placement offers (PPOs) at six oldest IITs suggests that companies might be hiring more this year.
Marquee employers such as Microsoft, Hindustan Unilever, Reliance Industries, Goldman Sachs, Adobe and Schlumberger have rolled out over 170 PPOs to the class of 2013, with strong indications that the final tally at these six IITs may beat last year's records. Officials from the six IITs ET spoke to said about 260 students from their institutes received PPOs last year.
When the global outlook was brighter, workers in the IT and back-office process outsourcing sector were jumping from job to job in search of fatter pay cheques and better benefits, driving up corporate costs. The decline comes as the main US and European customers of India's outsourcing sector struggle with low economic growth.
With inputs from ET Bureau
Placement officials say that IT firms are visiting campuses but the numbers are likely to be less as Indian IT companies may cut back on campus hiring this year. However, MNCs were showing a lot of interest this year. Officials said that it would be difficult to achieve placement numbers like previous years.
Macro-economic uncertainty and low growth expectations combined with low utilisation and low attrition are likely to be the reasons for slow hiring. IT companies had hired 2 lakh freshers from various engineering campuses last year.
However, an analysis carried out by MyHiring-Club.com, a recruitment platform stated that hiring may be slowing down for technology companies, but hiring of technology professionals accounted for 31 per cent of the total hiring done by the non-IT sector in the country in the first half of calendar 2012. This is up from 22 per cent in the same period last year.
ET had earlier reported that the first flush of pre-placement offers (PPOs) at six oldest IITs suggests that companies might be hiring more this year.
Marquee employers such as Microsoft, Hindustan Unilever, Reliance Industries, Goldman Sachs, Adobe and Schlumberger have rolled out over 170 PPOs to the class of 2013, with strong indications that the final tally at these six IITs may beat last year's records. Officials from the six IITs ET spoke to said about 260 students from their institutes received PPOs last year.
When the global outlook was brighter, workers in the IT and back-office process outsourcing sector were jumping from job to job in search of fatter pay cheques and better benefits, driving up corporate costs. The decline comes as the main US and European customers of India's outsourcing sector struggle with low economic growth.
With inputs from ET Bureau
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