Wednesday, August 19, 2009

Hiring in the slump

HITS - is hiring in the slump. That's just an acronym I made up. But this makes for interesting reading.

Some companies, though, see the hard times as an opportunity to boost productivity and prepare for the next big uptick in the $800 billion global IT business. Top players such as Tata Consultancy Services, Infosys, Wipro (WIT), and HCL Technologies remain profitable and are loaded with cash; Infosys has $2.2 billion, and the others have $1 billion-plus.

So even as the industry suffered, the five biggest companies added a total of some 80,000 employees in the 12 months through March-a third less than the previous year but still sizable. And the outsourcers are all cozying up to customers, reinventing how they price and sell their services, and investing millions in training and research to help them take on more complex jobs.[BusinessWeek]

There are two things. One, that hiring during a slump (and not just in India, mind you) is contrarian. Two, the biggies seem to be either thinking alike or they know something we don't.

To me, the latter seems to be truer. And that is that a slump traditionally means companies scramble to become leaner and what better way to cut flab than in their IT departments. I am sure that the consultants that these companies employ are suggesting the same to their prospective clients. Either way, I like the way they think. Hiring during a recession surely builds up brownie points in those countries where a thousand advertisements cannot. And what better time to get those customers when they are in their deepest pain.

I am glad to see the Indian IT industry live up to its spots...


Admin said...

Thanks ever so much, very useful article. Great information! Very smart, thanks for kindly sharing it with us. Very well done indeed. If you do not mind, please visit my article related to pandeglang district in Banten, Indonesia at Kenali dan Kunjungi Objek Wisata di Pandeglang and if you want to learn how to speek Indonesia just come visit my page at Learn Indonesia Language

Daniela said...

Interesting post. I have been wondering about this issue,so thanks for posting. I’ll likely be coming back to your blog. Keep up great writing.

Find your great Travel News and sing the songs at Free Song Lyric or you can watch the drama at Korea Drama Online one of great korea drama is A Love to Kill if you go to travel to Indonesia learn Learn Indonesia Language first! And find your home cari rumah or make a blog Belajar membuat Blog find your home again rumah dijual and again at jual rumah then if you want buy a new laptop see the Laptop Price List or you can buy a New Blackberry and then take care your Health & Jewerly.