ACCENTURE HIRING
The AI boom has an unlikely early winner: Wonky consultants
As the tech industry explores avenues to monetise generative AI, consultants have already started capitalising on its potential profitability. Companies like McKinsey & Co, IBM, and Accenture are experiencing increasing sales and expanding their workforce. This trend is driven by a desperate need for technology experts who can serve as guides, helping businesses understand the implications of generative AI and its potential benefits.
Is it a case of ‘no bad news is good news’ for IT companies now? Rahul Jain answers
Rahul Jain of Dolat Capital says that the guidance for the current fiscal has been very weak in the case of the IT companies that give explicit numbers, be it Infosys or HCL Tech. And if they do not surprise positively during the earnings season, all the momentum can gradually fizzle out.
Small cities home to big dream jobs: Hiring scene in tier 2, 3 cities gets busy
Job opportunities are growing across sectors in tier 2 and 3 cities, and professionals are eager to join, recruiters and firms said. Escalating living costs and infrastructural challenges in metros are prompting executives to move to smaller cities. Companies, on their part, are drawn by cheaper land costs, lower salaries and easy talent availability, besides rising disposable incomes in these cities.
India Inc helping more wonder women get C-suite superpowers
At Accenture, 29% of the leaders in India are women. Diageo India has 30% women in senior leadership. In the last few years, Marico's efforts have pushed women into close to 30% of leadership roles. PepsiCo is looking at 40% women in the India leadership team by next year. Larsen & Toubro handpicked 495 women employees to undergo leadership development programmes in the last few years.
Tech firms TCS, Accenture, Cognizant lead LinkedIn's top large companies list
LinkedIn's 2024 Top Companies list in India features Tata Consultancy Services, Accenture, Cognizant, and others. Insights include in-demand skills like investor relations, capital markets, and job opportunities in diverse industries across locations like Bengaluru and Hyderabad.
India Inc embracing neurodiversity at workplace
Corporate India promotes neurodiversity by hiring individuals with autism, dyslexia and ADHD. Companies like SAP, EY, Publicis Sapient, Accenture, Wells Fargo lead in creating inclusive workplaces, offering tailored programmes, and specialized hiring initiatives.
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Big Four set for another wave of partner poachings
Recruitments come at a time when the Big Four firms are strengthening service lines, scaling up advisory practices and filling replacement hiring. Deloitte's actions exemplify this trend, hiring over 50 lateral partners in the past year, with nearly half from rival firms, particularly bolstering cyber, risk, financial services, and tech divisions
Unicorn hiring trends; smartphone makers to gain further ground
The ongoing funding winter and concerns over profitability have not deterred homegrown unicorns from onboarding top talent. This and more in today’s ETtech Top 5.
Breather for colleges as IT companies ready offers for class of 2024
Top software services exporters like TCS, HCLTech, and Accenture are providing a reprieve to engineering colleges by giving job offers to graduates from the Class of 2024. VIT Vellore has received over 900 offers from TCS, raising hopes at other campuses.
IT companies' hiring offers slight respite to engineering colleges
IT companies like Infosys, Wipro, TCS are vital for engineering colleges as they tend to make large hirings, ranging from a few hundreds to thousands, usually in September.
Accenture with 26 offers, followed by BCG with 23 emerge top recruiters in IIM Ahmedabad final placements
Accenture emerged as the top recruiter in the final placements for the PGP Class of 2024 at IIM Ahmedabad, with 26 offers. BCG followed closely with 23 offers. Goldman Sachs led among investment banks with nine offers, while Adani made the highest number of offers in the general management domain. The placement season saw a decline in management consulting offers but an increase in niche consulting and conglomerate hiring. TCS and PwC were prominent recruiters as well.
Board exits at Paytm bank; Mamaearth’s Q3 profit up 265%
Shinjini Kumar, a former Bank of America and PricewaterhouseCoopers (PwC) executive, resigned from the payments bank’s board in December, we have learnt. Manju Agarwal, former deputy managing director at State Bank of India, has also quit.
Genpact expects FY24 revenue to remain sluggish, FY23 growth slows to 4%
Genpact forecasts total revenue for Q1FY24 in the range of $1.108-1.114 billion representing a modest growth of 1.75-2.25%. The growth on a constant currency basis is projected in the range of 1.95% to 2.45%. Gross margins are expected to remain flat at 35%. Full-year revenue growth is expected to remain lower in the range of 2-3% yoy in the range of $4.57 billion to $4.61 billion.
TCS, Infosys rolls dip 35,000 in subdued Q3
Headcount at TCS, the market leader, dropped 10,669 and that at Infosys by 24,182.
IT freshers beware! Non-compete clauses woven into contracts are unenforceable in India, experts say
Indian IT companies are using non-compete clauses in their contracts to deter new hires, but legal experts argue that this tactic is not enforceable in India. Non-compete agreements, ranging from six to twelve months, are a standard feature of contracts from major Indian IT companies like TCS, Infosys, Wipro, HCLTech, and Tech Mahindra.
IIT Bombay’s Class of 2024 bags 1,340 offers in the first phase of placement
Students bagging offers for research and development got the highest average package of Rs 36.94 lakh per annum, followed by finance (Rs 32.38 lakh), IT/software (Rs 26.35 lakh), IIT Bombay said.
IIT-Roorkee sees 802 job offers in first 15 days of final placements
Accenture Japan, American Express, Axis Bank, Axtria India, Bajaj Auto & Chetak Technology, Bharat Petroleum Corporation, Cisco, EXL Service, Futures First, Google, ICICI Bank, Jaguar Land Rover India, JP Morgan & Chase, Merilytics, Microsoft, Navi, Oracle India., Qualcomm India, Reliance Industries, Sprinklr, Texas Instruments and Zepto were among the companies that participated in the placements drive, according to the statement issued by IIT-R.
IIT Delhi bags 480 full-time job offers on day 1 of 2024 placement season
Like many old IITs, the ongoing placement season at IIT Delhi for the academic year 2023-24 kicked off on December 1 and will continue till May for full-time hiring of undergraduate and postgraduate students. This year, hiring is being conducted in both physical and virtual modes depending on the recruiter’s convenience, according to a statement issued by IIT Delhi.
India Inc steps up focus on returning women professionals
Companies across sectors--pharmaceuticals, insurance, technology, financial services and renewable energy--are accelerating their focus on second career programmes as they look to tap into a non-traditional but experienced talent pool, and also move the needle on gender diversity numbers, said executives of talent consulting and diversity firms.
Tech companies roll up sleeves to get more women into STEM jobs
As of 2023, women account for 27% of India’s STEM workforce, compared to 32% of the non-STEM workforce, according to the recent Global Gender Gap Report 2023 by the World Economic Forum.
Good growth in formal job creation across all segments and verticals except IT: Ramani Dathi, Teamlease
“We are seeing good growth in hiring for banking, financial services, pharma, healthcare, even consumer verticals and telecom segments . We are seeing improved hiring trends compared to the last two-three years in all these sectors. In the zero to four years’ experience profile, the hiring trends in non-IT segments are very encouraging.”
IT firms delay campus hiring on low demand visibility
According to data from TeamLease, the Indian IT sector will hire 40% fewer freshers compared with FY23, when they onboarded 2,50,000 engineers. Usually, by August-September, the IT majors begin their campus placement processes but have been absent from campuses this placement season.
What does muted Accenture guidance mean for Indian IT companies? Apurva Prasad explains
The decline in Accenture's consulting business is a significant factor in their first guidance, and the negative impact is felt in verticals such as communications. However, the managed services segment remains stable, and Indian IT companies are expected to benefit from increased market share due to strong bookings. The US economy, which historically influences Accenture's performance, is expected to recover, indicating potential growth for the IT sector.
Engineering students brace for a tough placement season amid tech downturn
The Class of 2024 at tier-2 and -3 engineering colleges in India are facing a challenging year for campus hiring. IT/ITeS companies, which typically recruit a significant number of students, have either stayed away or delayed their hiring plans. Placement officials at various colleges have reported a drop in offers from these companies, with expectations of further declines.
In AI push, Telenor hires Google Cloud's Amol Phadke as CTO
Phadke most recently headed Google Cloud's telecom business and has previously worked for British Telecom, Alcatel-Lucent and Accenture's network services unit.
RBI selects McKinsey and Company, Accenture Solutions to use AI, ML to improve regulatory supervision
The Reserve Bank has selected global consultancy firms McKinsey and Company India LLP and Accenture Solutions Pvt Ltd India to develop systems using artificial intelligence and machine learning for its supervisory functions. The RBI is looking to extensively use advanced analytics, artificial intelligence and machine learning to analyse its huge database and improve regulatory supervision over banks and NBFCs. For this purpose, the central bank plans to hire external experts.
India Inc wants more women in leadership roles
Companies including Accenture, Cognizant, KPMG, L&T, PwC, and NatWest Group are making concerted efforts to bring in more women in leadership roles, recognising that diverse viewpoints are crucial to fostering innovation and better decision-making, ultimately leading to more success and better profitability for firms.
Accenture to invest $3 billion in Artificial Intelligence, double AI talent to 80,000
Accenture said it will invest in new and existing relationships across cloud, data, and AI.
Accenture to lay off 19,000 people, 40% of its 7.38 lakh employees are in India
The software services behemoth said currency headwinds and wage inflation had a direct impact on its decision to lay off employees.
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