WITCH companies have provided lots of people with jobs. They have made it easier for people to land a job even if they don’t have a high skill requirement. WITCH companies are also perfect for undergraduates who can’t land a job or need to make money to survive each day. The only requirement for most applicants is to speak and communicate in English effectively, and they have a high chance of getting hired.
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What are WITCH Companies?
WITCH is a word made up of the first letters of Wipro, Infosys, TCS, Cognizant, and HCL. The words that makeup WITCH are all information technology-related companies. They are all known for their excellent services and top performance in the industry.
a. Wipro
In India, Wipro was founded by M.H. Hasham Premji way back on the 29th of December, 1945. They are an information technology company that also provides business processes and consulting services. As of 2021, the company’s total revenue is 8.7 billion U.S. dollars or 619.4 Indian Rupees.
b. Infosys
Infosys is an I.T. company that provides outsourcing, business, and consulting services. The company was founded on the 2nd of July in 1981, in Pune, India. Now, they have a revenue of 14 billion U.S. dollars or 1.027 INR. Their headquarters are located in Bengaluru, India, and they have 259,619 listed employees as of 2021.
c. TCS
Tata Consultancy Services, or TCS for short, is another multinational I.T. company from Mumbai, India. By market capitalization, TCS is the biggest I.T. service company in the world. The company was founded on the 1st of April in 1968. In 2020, TCS had total revenue of 23 billion U.S. dollars or 1.62 trillion INR. The company also has acquired a lot of new employees, and as of June 2021, they have a total of 509,058 employees.
d. Cognizant
Cognizant is an American information technology company that also provides outsourcing and business consulting services. The company was founded on the 26th of January in 1994. In 2019, Cognizant had total revenue of 16.8 billion U.S. dollars, and in 2020, they have 289,500 employees. Cognizant, unlike the other companies in WITCH, is located in Teaneck, New Jersey, United States.
e. HCL
HCL Technologies is a subsidiary of the HCL enterprise located in Noida, Uttar Pradesh, India. They have a total revenue of 11 billion U.S. dollars or 763.1 billion INR in 2021.
How Do WITCH Companies Operate?
WITCH companies operate as a typical company does. For applicants looking for a job, WITCH companies will then invite them for an interview. WITCH companies will hire qualified applicants after the interview. They also outsource their services to other countries and provide more jobs that help people. Because WITCH companies are not that demanding in terms of skills when looking for new employees, they tend to have more applicants from the lower-middle class and poor sectors and have a crowded nature of workplaces. That’s also why they have many infrastructures built to accommodate all of them in most of the cities they operate in.
What Makes WITCH Companies a Multi-billion Dollar Industry?
The nature of work in WITCH companies has attracted a lot of applicants in the last decade alone. The total revenue of WITCH companies is estimated to be 73.5 billion U.S. dollars and is continually growing. The reason behind this is the massive hiring of WITCH companies. There’s also an estimation of their total employees of a million or more in India alone. The outsourcing strategy of their services has saved them a lot of money because some services they require are more expensive in first-world countries.
A large percentage of people who don’t have high skill requirements have also flocked to job applications. It means that the people’s workforce has provided by the company is more prominent than other known I.T. companies. Another thing worth mentioning is that two or more applicants are already next on the line whenever an employee resigns. WITCH companies will never run out of employees, and that’s why it will continue and stay as a multi-billion dollar industry.
The Impact of WITCH Companies on the Global Economy
WITCH companies have contributed to the global economy in a positive and significant way. Their BPO sectors alone have provided more jobs to people in third world countries and have become a part of their respective countries’ economic GDP growth. Also, another good thing is that companies like WITCH have an increasing demand for human resources and will continue to have a powerful impact on the global economy for years to come.
Why is It Recommended to Work in WITCH Companies?
It is recommended to work in WITCH companies if you are looking for guaranteed money. A small investment in your skills is enough to make WITCH companies hire you. However, if they don’t see any improvements to your skills after months of working, the company will likely replace you. Remember, they can also find replacements for employees easily. Still, these companies are less likely to fail and always available for years to come. WITCH companies also provide benefits like health insurance, which is very helpful to an employee more than people think.