Throughout the last few quarters, attrition rates in IT companies have been high as demand for technical professionals with digital capabilities has continued to exceed supply. On the other hand, Accenture has stated that it is not talent constrained.
According to brokerage and research firm Kotak, the IT giant can recruit roughly 4.6 million talented candidates per year, including 600,000 employee referrals.
Accenture finds talent by combining high touch with high-tech recruiting and artificial intelligence. Despite labour market concerns, Accenture has access to a large talent pool. According to a survey by Kotak, Apprenticeship programmes allow companies to tap into fresh talent pools.
According to the report, the information technology company has done an excellent job of forecasting prospects and investing heavily through organic and inorganic channels to grab new spending avenues and gain market leadership.
“Accenture despite being the largest IT services firm will grow at the fastest pace among all global Tier 1 players, a remarkable feat. Cloud business was US$1 bn in revenue in FY2012 and has grown to US$26 bn in a decade and is still clocking 30% growth,” as per Kotak.
According to the report, the use of compressed transformation is expanding and accelerating across organisations in India, giving a structural tailwind to demand over the next several years.
“Higher focus on costs is an outcome but not necessarily a bad one for Indian IT, cost focus can bring back mega deals for the industry and will benefit Tier 1 players enabling them to close gap with mid-tier peers,” said Kotak.