Indian IT Firms Hiring More Staff than U.S. Counterpart on Expected Growth
According to quarterly reports outed recently, Indian IT firms are adding more staff to their firms than U.S. counterparts. This rise in hiring comes after a flat period of growth for Indian IT firms. However, the recession has left employees in dire straits in the U.S.
Analysts say that the Indian labor market is looking at some signs of growth and stability, after a period of losses. However, it is far from last quarter’s big leap in employment seen last quarter.
Wipro, Infosy and TCS are India’s biggest IT services suppliers and they have each added a total of 16,700 workers for a combined total of 359,000 staff last quarter. This spike in hiring is a result of the improvement in outlook, post recession.
These major firms are seeing higher demand for their services and say that the outsourcing pace has rebounded. Experts also say that these firms are also speculating that U.S. companies are more likely to outsource projects to them than hire permanent employees on a payroll.
Partner of CIO services for the Americas, Tom Lang, a TPI Inc said in a comment, "As people start up projects, they may rethink about how they bring their developers back," reports computerworld.com.
He added, a move by U.S. companies to use outsourcers – offshore and onshore – due to sheer flexibility to quickly adjust capacity of workers as needed would be an advantage.
The IT workforce in the U.S. tagged at a bit over 4 million in November, 2008 has a lot of catching up to do due to the recession. According to a group that keep track of U.S. IT-linked job data, TechServe Alliance, 3.81 million IT staff by September end, which marks an addition of 11,000 jobs by the end of December.
Additionally, advisory firm TPI revealed that the outsourcing contracts’ market value saw its best performance in six quarters.
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