“Intention to hire and being able to hire are two different things. To onboard about 400 laterals a day, you need to hire around 700 people a day,” said Kamal Karanth, co-founder of the specialist staffing firm. needs to make an offer, as the drop out ratio in most IT services enterprises is more than 40%. xpheno.
IT companies have strong recruitment processes and large talent acquisition teams. “But even with that potential, it is a challenging year for lateral hires to be sure. If the mix between freshers and laterals is 75:25, then it is possible,” said Karanth. Offer acceptance rates have dropped dramatically, especially for skills with severe shortages. Xpheno data shows the offer acceptance rate for roles like Fullstack Engineer, Data Engineer, Data Scientist in IT Services companies. DevOps The number of engineers has dropped by more than 80%, to about 45%.
Saravanan Balasundaram, CEO of Pratibha Consultancy Firm Han Digital, said onboarding as a proportion of the total offers for IT services firms has come down to less than 50% as employees sit on multiple offers. He said companies are taking extraordinary nod to offer higher salaries so that candidates have less time to shop for other offers. “Some IT firms are willing to offer bonuses for joining early and lock out candidates in mid-level roles,” he said.
Sriram Rajagopali, Managing Partner of Talent Solutions Firm diamondpickSaid to have increased salaries by 100% for key roles in cloud, cloud native, mean stack developers (a JavaScript-based framework for developing web applications). “In our recent recruits, around 100 did not accept the offer and when we ran a survey, the data showed that these specialized roles got a 94% increase in salary from their current compensation. There are outliers that can achieve more,” he said.
Rajagopal said sales force, S4 Hana and Snowflake certification command a very good premium.
.