IT companies need to restructure their interview process.

5-6 rounds is way too long and end of it you are told , you are not selected, so demotivating. And some companies take their own time to release offer.

Candidates right now are willing to wait, as the job market is dull. But once the market picks up, no one will wait for so long, as companies will look to poach aggressively. It's primary the big IT service companies that are so sluggish and their salary is nothing great either.