Hiring Slowdown

A recently met the head of recruitment for one of the major IT services companies from India. He was looking much slept than his earlier self and the reason became clear in our discussion.

He disclosed how finally there has been a slowdown for recruitments and in his company really a freeze. In the past he had targets to hire 5000 recruits (fresh and experienced) each quarter. One of the key KPIs for his and his team's performance has been "target achievement" for the hiring target. They have added almost 30,000 employees in the last two years!

Thankfully companies are realizing that reckless hiring has to stop and cannot go as they did in the past.