Amidst Freezing Hirings, Tata Elxsi Increasing Headcount By 50%
The world’s leading providers of design and technology services across industries including Automotive, Broadcast, Communications, and Healthcare, Bengaluru-based Tata Elxsi is planning to increase its headcount by 50%.
For FY23, Tata Elxsi intends to hire 3,000–3,500 fresh graduates and 1,000–1,500 experienced professionals. The company might increase its 10,000 personnel by as much as 50% in the year leading up to March 2023, comprising both new graduates and experienced employees.
CEO Manoj Raghavan remarked, “We genuinely have not heard any desire to reduce expenditures from all our key customers.”
Earlier, in February Tata Elxsi announced that it provides integrated software services to automotive sectors, amongst others, and is planning to induct around 1000 engineers in the coming quarters to meet the rising demand. The development comes even as the company recruited over 2000-odd engineers last year including 1000 for the transportation segment alone.
Shaju S – Vice President and Head – Transportation Business Unit, Tata Elxsi told Autocar Professional that the company has taken up space at the newly-built SEZ campus in Trivandrum.
It’s Hyderabad office which was opened last year is now fully operational and is primarily addressing the needs of the company’s transportation customers. The company is expanding its delivery presence with a new center in Kozhikode.
“In addition, we have been increasing our capacity in other centres in Bangalore, Pune, and Chennai,” said Shaju.
Tata Elxsi like its peers has been experiencing a relatively higher attrition rate over the past several quarters due to a sudden rise and buoyancy in the job market, which has led to talent crunch in certain skill-sets.
To mitigate the problem, companies are actively offering better salaries and incentives not only to attract the desired talent but to retain the existing ones. Tata Elxsi, on its part, has taken several HR-related measures and increased its resource intake by hiring a healthy mix of freshers and lateral hires.
Tata Elxsi’s orders are strong, according to CEO Manoj Raghavan, despite warnings from the world economy. The company recorded operating revenue of 726 crores for the three months ending on June 30, 2022, an increase of 6.5 percent QoQ and 30.0 percent YoY. Net profit increased by 15.4% QoQ and 62.9 percent YoY to 184.7 crores.
Tata Elxsi crossed the 10,000 employee mark with 771 net additions in the quarter. The company is helping customers reimagine their products and services through design thinking and the application of digital technologies such as IoT (Internet of Things), Cloud, Mobility, Virtual Reality, and Artificial Intelligence.
