Virtusa Corporation — a $1.2 billion US headquartered IT services company with a giant worker base in India — is on a hiring spree. It added practically 6,000 workers within the final one 12 months, and plans so as to add a comparable quantity subsequent 12 months as enterprise seems up in sectors like healthcare, life sciences, hi-tech and BFSI.
“We crossed a whole worker headcount of 30,000 within the second quarter,” mentioned Sundararajan Narayanan, Chief People Officer & Executive Vice President, Virtusa, which was based in 1996 in Sri Lanka by Kris Canekeratne.
Employee depend in India has been rising exponentially — from 14,500 to 21,000 — within the final 18 months in areas like Hyderabad, Chennai, Gurgaon, Bengaluru and Pune, he instructed BusinessLine. In the US, there are round 4,000 workers, in Sri Lanka about 2,500, and the stability in the remainder of the world, he added.
Four-pillar recruitment technique
Virtusa is focussing on scaling up its recruitment from school campuses. While different firms observe the ‘bus’ kind the place they go in a bus and decide up plenty of college students, Virtusa does it in a different way by way of a four-pillar technique, Narayanan mentioned.
The first is by establishing Centres of Excellence (CoE) inside the faculty campus to assist college students achieve data in areas of calls for like enterprise course of administration, knowledge safety administration and machine studying.
“We have arrange 52 CoEs throughout India from simply 4 within the final seven years. We prepare each college students and professors in specialised areas. Those employed are given a 100 per cent internship in Virtusa throughout their school instances. They additionally get jobs in different firms. We wish to develop to 70 CoEs by subsequent 12 months,” he mentioned. Some schools in Chennai the place the CoEs are situated embody VIT, SRM, SSN and Sathyabama, he added.
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Three years in the past, 1,000 have been employed by way of campus recruitment which was elevated to 1,500 final fiscal, 2,500 this fiscal, and will likely be 4,000 by subsequent 12 months, Narayanan mentioned.
The second pillar of hiring is thru hackathons, the third is built-in masters programme and fourth is lateral. Nearly 70 per cent of hiring is lateral and Virtusa desires to scale back this to round 65 per cent and improve campus hiring to 35 per cent, he mentioned.
Virtusa is witnessing an attrition charge of excessive ‘teenagers’ (final twelve months degree), equal to different firms, he added.
Baring in management
In the final 5 years, there have been important modifications at Virtusa which, in 2015, acquired 53 per cent of Chennai-based Polaris Consulting and Services. In November 2020, Baring Private Equity Asia (BPEA) acquired all excellent shares of widespread inventory of Virtusa in an all-cash transaction valued at roughly $2 billion. In February, BPEA efficiently accomplished the acquisition and privatisation of Virtusa.
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Narayanan mentioned that there have been important management modifications since May this 12 months with Cognizant veteran Santosh Thomas appointed as CEO to succeed Canekeratne. On October 25, Virtusa appointed company veteran Samir Dhir as CEO – Global Markets and Industries, Amit Bajoria (ex-Wipro) as Chief Financial Officer, and Ram Meenakshisundaram (ex-Cognizant) as Chief Technology Officer, he mentioned.