IT headhunters express shock

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New Delhi: After resignation by B Ramalinga Raju, who is now the ex-Chairman of Satyam Computers, FE spoke with representatives from the HR and recruitment community to get their reaction on how the crisis would impact Satyam employees and the talent pool dynamics within the industry.

TV Mohandas Pai, member of the board and director— Human Resources at Infosys expressed deep shock at the events unfolded on Wednesday at Satyam. “It is an unfortunate situation and the extent of fraud is unprecedented. We sincerely hope that regulators and the government bring the wrong doers to justice and that they are duly punished. We hope the Satyam incident is seen as an isolated incident and it does not go on to represent the industry and the larger corporate environment”. When asked what the outcome would be for employees Pai said, “It is too early to say what the outcome will be for employees but we regret the situation innocuous employees at Satyam face because of the irresponsibility of higher ups in the organisation”.

On speaking with representatives at Korn/Ferry International, EgonZehnder International and Ma Foi Management Consultants the consensus was common. Even in a worst case scenario if employees were to be in the job market there would be no problem for good people to get absorbed. Wipro TCS and Infosys in most of their good years have hired 10,000 to 15,000 employees each. These are just the big players. It is true that companies including those in the IT and ITeS sector have slowed down on hiring but they are still continuing to hire. The IT sector employees may not get the 30 to 40% salary hikes they have been used to but they would still get increases at new companies comparable to the 10 to 15% raises they could expect from their existing employer and in a worst case scenario they would get lateral offers. Broadly speaking, the average salary for junior employees at IT firms is about Rs 8 to 10 lakh and Rs 20 to 35 lakhs at the mid management level. Of course these vary depending on size of company and if they are a global or a national player.