The slower growth of rate has led Indian IT to focus on experience instead of freshness. Indian IT industry has observed slower growth rate since past 5 years, which has initiated a major transformation in IT industry. Software companies have shifted their focus on hiring experiences executives for the important job roles. The average age of employees at India’s top five outsourcing firms has changed to 30 years.
Over the past five years, the average age of employees has gone up from about 26 to 29. “Five to ten years ago, the average age was 26-27. Over the last 3-4 years, the average age has steadily gone up,” said Binod Hampapur Rangadore, executive vice president and global head of talent and technology operations at Infosys.
Even HCL technologies have gone through similar transformation. As, Prithvi Shergill, company’s global HR head, says the average age of employees has gone up from 28 to around 31 years over the past five years.
If we talk about Wipro, India’s third-largest software exporter company, average age at the company currently stands at 30.3 years. According to Wipro’s latest annual report, 61.5% of the company’s total workforce is under the age of 30, compared with 66% for the financial year ended March 2011.
For the reason behind such transformations, Shergill, chief human resources officer at HCL Technologies says, “Work is becoming more complex. The amount of time that people see their careers for is reflective of the growth rates of the industry as well.” This has even increased the retention rate at the organizations as the people have started understanding the value of staying longer with the company.
However, this decrease in the rate of fresher at IT in the past 5 years has led to increase in the rate of fresher joining startups. As agreed by one of the NASSCOM executive, “The balance has also shifted because larger number of young engineering graduates are preferring to join startups as opposed to large IT services firms. Also, with bigger companies now pushing for non-linear growth and looking for more experienced people, the number has to go up. And slower growth rates have also forced them to cut back on hiring fresher.”