Infosys sees huge drop in job applications.
T. E. RAJA SIMHAN, CHENNAI, JULY 31:
Are job-seekers in the IT industry avoiding Infosys and looking for jobs elsewhere? May be yes, going by the number of people who applied for jobs with the software major.
While the sentiment in the IT industry was down in the last two years, Infosys too turned in a not-so-satisfactory performance with frequent management changes.
In the financial year 2011, the company received 8.29 lakh applications for jobs, and ended up giving 67,400 job offers. Next year the number of employment applications dropped by nearly two lakh.
However, the number fell dramatically to 3.79 lakh in 2013 fiscal and the company offered jobs to 27,303 people.
Infosys was the only top company that gave this data in its annual reports. Despite requests, other companies were unwilling to share such data.
“I think the drop in number is the case across IT in general. Also, many people are turning to non-IT careers,” said an analyst covering the IT sector who did not want to be named.
Sunil Goel, Managing Director, GlobalHunt, an executive search firm, said the larger reasons for this consistent drop in number of applicants for jobs in Infosys has been the slowdown in the economy
It was also due to a larger slowdown in the US market, which consists of 50-60 per cent of total revenue and slow movement in the European market as it is also contributes 20-30 per cent in total revenue. There were some frequent changes in the Infosys management. This may have caused some discomfort to the existing staff and future employees, explains Goel. The financial performance also was a key factor to assess the company.
The situation is more or less similar to other large IT service companies, Goel said.