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Infoys and TCS executives admit that the growing hiring of contract workers is sometimes driven by projects in new technology fields. “All companies have more than 15 percent of their workforce inactive (this is called a bank or unbilled labor),” an Infosys executive said. And if they can`t make that bank billable, it doesn`t make sense for them to hire more employees, added the person, who asked not to be identified. With the slowdown in hiring by IT companies, experts believe that the pace of hiring contract workers will only increase, although all companies are focusing on training their current employees to learn new technology skills. Wipro, the third largest software company in the country, has hired more contract workers than full-time employees in each of the past six years. Some experts argue that this tendency to recruit more contract workers should not be interpreted as companies that are shunning digital talent or developing skills, as companies could consider contract workers to carry out traditional projects, even if they encourage existing workers to learn new skills. e.B. in analysis. The executive`s claim is confirmed because revenue per employee at Wipro, Infosys and TCS has declined over the past three years. Nevertheless, some stock market analysts believe that given the growing uncertainty of business and more disruptive technologies, it makes sense for companies to have more contract workers.
The company explains that the difference is due to the contract workers hired by the company. Wipro declined to disclose the exact number of full-time employees, but provided details about the contract workers. Their number increased from about 70 in 2010 to more than 20,000 by the end of March. “Over the past few years, we have seen a growing demand for niche skills in our rapidly changing industry, and we hire technology specialists from time to time to maximize value for our customers. Sometimes we use the services of contract workers to meet short-term requirements for certain skills, or in places where we may not have a significant presence,” a Wipro spokesperson said. TCS and Infosys do not disclose the number of contract workers hired, but their spending on these workers as a percentage of total sales has more than doubled since 2011 (see chart). It is important to note that both companies` spending on their own employees decreased or increased only slightly during this period. Wipro said in a filing with Indian stock exchanges that it had an employee base of 172,912 as of March 31. The latest filing with the U.S. Securities and Exchange Commission indicates that it has more than 150,000 employees. Significantly, some tech executives say this trend reflects the quality of revenue these companies generate, suggesting that they are pursuing commercialized outsourcing deals rather than working on projects in newer areas.
“The increased hiring of contract workers is more due to demand than design,” said a senior executive at a Bangalore-based tech company. “A company can hire a certain number of employees at the beginning of the fiscal year in anticipation of demand. But during the year, he may not get the activity he expected. Now that most companies already have huge non-billable workers in the bank, why take that risk (hiring) when you can still use contract workers when a project is on hold,” said a Mumbai-based analyst at a national brokerage who spoke on condition of anonymity. India`s $150 billion outsourcing sector, led by Tata Consultancy Services Ltd (TCS), Infosys Ltd and Wipro Ltd, has increased its reliance on contract workers to carry out the projects, despite hiring fewer employees since 2011. Wang and Narcisse both said this trend of hiring more contract workers will continue as tech companies see more and more business from customers in areas of digital services such as cloud computing and analytics. Amid uncertainty and the arrival of disruptive technologies, it makes sense to have more contract workers, experts say: “It actually tells you something about the quality of revenue generated by all IT companies as they continue to chase after bread and butter outsourcing deals. If companies were really hiring more data scientists or people with other niche-specific skills, why didn`t the non-linearity of sales staff materialize,” asked the executive, who did not want to be named. “I would just interpret it as a margin game,” said Deleon Narcisse, an analyst at Technology Business Research, Inc., a U.S. research firm. “Profits are being reduced as revenues from traditional outsourcing decline and Indian IT companies build their talent pools with digitally (expensive) skilled workers to adapt to changing market dynamics.
That`s why they rely much more on temporary workers and automated technologies to reduce delivery costs for less complex traditional outsourcing jobs. » Never miss a story again! Stay connected and informed with Mint. Download our app now!! Ray Wang, founder and CEO of Constellation Research, a technology consulting firm, added: “This change is really about the new skills needed. Digital is part of the pie, but not the whole story. This shows how skills in disruptive areas are evolving rapidly. Something hot in 2016 may not be in 2018. ».
