Mid sized firms face the consequences of IT biggies hiring

[Ashpak...... ......oNe s bSt FrNd is 1sElf]

 

Mid sized firms face the consequences of IT biggies hiring By   SiliconIndia Thursday, 16 December 2010, 11:07 IST     Bangalore: The sudden movement of employees from smaller firms to larger firms has badly hit the mid-sized and smaller companies. Industry estimates that the attrition levels in smaller IT companies average around 25-30 percent and the large technology firms has a sequential growth in attrition rates, they are at manageable levels of around 14-17 percent. Most of the recruitment is happening at the middle level. Early indicators suggest that this year even the campus recruitment will touch a historic high, as top Indian tech majors, including TCS, Infosys and Wipro, will alone recruit close to one lakh engineers. Large IT companies - TCS, Infosys, Wipro , HCL, Cognizant and MNCs like IBM have become a nightmare for the smaller firms. Going by recruitment data and growth projections, most tech majors began 2010 with conservative estimates of manpower required but gradually scaled up their targets as the year progressed. Nasscom, has already laid down ground rules for campus recruitments under which member-companies are allowed to enter campus only at the beginning of the eighth semester of engineering. The smaller firms have already lost their middle level employers. IT majors boom in campus hiring will make it difficult for smaller firms to get the right talent.