IT major Infosys is the only Indian company to feature in the top 100 list of the World's Best Companies of 2023 released by TIME Magazine and online data platform Statista. Microsoft, Apple, and Alphabet (Google owner) are top 3 in the list while India's Infosys was ranked 64th with an overall score of 88.38 out of 100.
Sustainability-wise, Infosys was ranked 135th while in terms of employee satisfaction the company's rank was 103rd. As per TIME Magazine, the growth rate of the company has been high. Infosys was among the top 3 professional services companies in the world.
“Microsoft, Apple, Alphabet (the company that owns Google) and Meta Platforms (formerly Facebook) were the top four companies in a new statistical ranking of 750 of the world’s best companies by Statista and TIME, which are based on a formula of revenue growth, employee satisfaction surveys, and rigorous environmental, social, and corporate governance (ESG, or sustainability) data," Time Magazine said in a release.
In the list of 750 companies, 7 companies were also listed apart from Infosys. Big Tech major Wipro was on 174th rank in the list while Anand Mahindra-led Mahindra Group was on 210th rank. Reliance Industries was at 248th rank, HCL Technologies at 262nd rank, HDFC Bank at 418th rank, WNS Global Services at 596th rank, and finally ITC at 672nd rank.
According to Sudha Murty, the chairman of Infosys Foundation, 85% of engineering graduates are not immediately employable. She has suggested that there is a strong need to improve the quality of engineering education in India.
Ms. Murty was speaking at the second and third convocation of KLE Technological University in Hubballi where she is a board member. She complained that most engineering graduates only learned things that concerned their college examination.
As a result, employers need to train freshers before they can fully realize their potential as an employee.
Encouraging students to make the learning process both fun and effective, she advised students to treat learning as an endless process. Murty also stressed the importance of working hard to achieve something worthwhile.
The convocation event was also attended by Anil Sahasrabudhe, the chairman of the All-India Council for Technical Education. Mr. Sahasrabudhe talked about the use of educational technology tools and how it will increase in the coming days.
Interestingly, Dr. Sahasrabudhe was a former student of KLE BVB College of Engineering and Technology. With a touch of nostalgia, he congratulated KLE University for successfully providing quality education during the pandemic.
According to a report coming from Business Today, Infosys is firing around 600 fresher employees after not being able to clear the internal assessment. “ I started working at Infosys in August last year and I was given training for SAP ABAP stream. Out of 150 in my team, only 60 people passed the FA exam. Rest all of us were terminated two weeks ago. From the previous batch (freshers who were onboarded in July 2022), nearly 85 freshers were terminated out of 150 after failing the test,” a fresher employee at Infosys told the publication. The person was reportedly onboarded in August 2022. Some impacted employees also said that failing the internal test didn’t result in termination for freshers who joined before July 2022.
The IT company conducted an internal test recently and asked all freshers to participate in it. The company has reportedly terminated 600 employees after failing the internal test. One of the sources close to the publication revealed, “ Two weeks ago, 208 freshers were fired after failing the FA test. In total, around 600 freshers have been fired after failing the FA test in the past few months.” Notably, the IT company has not released any official statement on firing employees yet.
The report of layoffs comes amid hundreds of freshers awaiting onboarding at Infosys for over 8 months after receiving an offer letter. “ Even though I have a job offer from India’s top IT company Infosys, I am still staring at a grim future. I already have a gap in my resume because of all the waiting and no income for the past several months. On top of that Infosys has not given any clarity on the timeline of onboarding. And now some of my friends who got onboarded are fired, which makes me feel scared about my prospects as it was always thought that the IT sector is a mass recruiter and there are always opportunities, but it is changing,” a candidate awaiting onboarding at Infosys told the publication.
Just a few weeks ago, another IT company, Wipro, terminated over 400 fresher employees on the grounds of performance. Commenting on the layoffs, a Wipro spokesperson said, “ We had to let go of 452 freshers after they performed poorly in assessments repeatedly, even after training. At Wipro, we take pride in holding ourselves to the highest standards. In line with the standards we aim to set for ourselves, we expect every entry-level employee to have a certain level of proficiency in their designated area of work. rdquo; ldquo; This systematic and comprehensive performance evaluation process triggers a series of actions such as mentoring and retraining and in some cases separation of certain employees from the company,” Wipro further explained.