Infosys spends lakhs on training freshers; each talent costs this much to the tech firm
India’s second largest information technology services firm Infosys spends about Rs 14 lakh on the training of each student, after which it takes them 12 weeks to become productive, Ravi Kumar, President and Deputy COO, told CNBC TV18. Infosys, which hires students from schools and colleges, has picked some 3,000 students and is focussing on training, skilling and building talent locally, Ravi Kumar added. The bellwether for the IT industry in India, Infosys attracts a large number of software engineers every year. Ravi Kumar also said that the company has got the magic formula of training students from schools and creating a talent pool which doesn’t exist in the market. The company hired more than 24,000 professionals in the financial year ending March 2019, according to reports.
IT Software and Hardware industry has been the top employment provider in the country for some time now, according to some reports. IT – Software in April 2019 recorded a notable rise of 39% growth over last year, a Naukri JobSpeak report had recently revealed. The demand for IT software professionals has been high and the same observed a rise of 33% in April 2019, compared to the same period last year.
Recently, Infosys had offered 5 crore shares to employees as a part of an expanded stock ownership programme. The company’s move was intended at attracting top talents. The Expanded Stock Ownership Program 2019 links long term employee incentives with shareholder value creation, said the firm. By making the employees stakeholders in the company, Infosys CEO Salil Parekh said, the employees get an opportunity to be beneficiaries in the long term success of the company and realize the results of their work and dedication.
“Our employees are our biggest asset, and through this program, we aim to recognize and reward individuals who are committed to driving value creation for all stakeholders through their continued and consistent performance,” he had said in a press release.