At a time when digital technology is going through a revolutionary reformation, thanks to the Covid-19 pandemic acting as a catalyst, the demand for consulting services have been on a rise, especially from tech companies.
The Big Four companies, namely Deloitte, PWC, EY, and KPMG have been hiring about 80,000 people over the next 12 months due to high demand in business and additional high attrition.
Financial Giants to Hire 80,000 People
There has been an unprecedented rise in demand for consulting services from companies across a slew of business segments, especially the tech sector.
As a result, the top four consulting companies Deloitte, PWC, EY, and KPMG will be hiring about 80,000 people over the next year to meet the increase in demand amid high attrition.
According to a Xpheno data report, the Big Four companies planted about 55,000 new jobs in FY22, ending March 2022, of which 52,000 accounted to the technology sector alone.
The gross hiring in the financial year surged 36% on a year-on-year basis in FY22 to 88,000, which was the highest YoY headcount growth in the group of these 4 giants. In the fiscal year, the figure of 88,000 headcount included a refill due to a 23% annual attrition rate.
The consulting firm PwC India created 3,000 jobs in FY22.
The partner and chief talent officer of Deloitte India, SV Nathan, said, “Deloitte, as well as others in this sector, have gone into technology consulting in a big way which requires a lot of people and that is what is triggering the huge demand for manpower.
We are hiring across all our businesses. The economic resurrection post Covid is what is propelling a fair amount of the hiring,” he added.
The chief people officer at PwC said, “Digital transformation, workplaces of the future, environment sustainability and governance (ESG), risk (including cybersecurity) and deals are key areas of focus and we are hiring skills to help us deliver to client needs in these areas.”