Infosys Technologies is on a mission to mop up the top executive talent in the industry and is willing to pay the price for it. In three months, Infosys has shopped for at least four people in the million dollar-a-year bracket.
Big ticket hiring, which nosedived thanks to recession, appears to have made a strong comeback. The rest of the industry too seems to be looking up to Infosys in this regard.
Infosys HR chief Mohandas Pai agrees that fat salaries are back. “In the million dollar category, we have hired three to four people abroad in the last quarter whereas in India, we have hired 10 people in the $1,50,000-$2,00,000 bracket,” he said. Senior level management hiring at Infosys has been made across verticals in the technology and consulting business. “In the US, the hiring was done with the aid of the top five consulting firms and in India we followed a similar process,” he said.
“These people were not necessarily from the IT industry but with domain expertise in sectors like retail, banking and insurance,” said Infosys senior vice-president and global head (HR) Nandita Gurjar. The company refused to name the candidates. Gurjar added that senior management hiring has picked up in the IT industry overall and since people at senior levels come with domain expertise, the salary structures are typically higher as well. “During the slowdown, we hired around 2 to 3 a year at the top level,” she said. Meanwhile, Infosys has increased its lateral hiring targets for the full year to the highest ever, about 10,000 of the proposed 36,000 new hires will be laterals. The firm has already hired 2,400 laterals in the first quarter and expects to get on board another 3,000 in the second quarter to create the necessary capacity for capitalizing on the strong volume uptick.
Most companies refrain from disclosing the number of top hires. However, a cross section of headhunters FE spoke to said most top and mid-tier IT services firms were now hiring people at huge salaries.
BS Murthy, CEO, executive search firm Leadership Capital, said, “In the quarter ended June, the hiring of operational leadership has gone up significantly.” “Almost all IT services firms are hiring them, they are the practice heads, delivery heads, location heads, vice presidents and associate VPs. They form the largest leadership chunk in any firm and in a big IT services firm, there could…