In recent times there has been a great surge of talent in the IT industry which has somewhat disrupted the demand-supply balance of the ecosystem. This has forced many organisations to focus on both talent attraction as well as retention, according to a report done by Quess, as reported by Mint. This is being dubbed the ‘Great Resignation’ period by some experts. It should also be noted that IT sector jobs have been at an all-time high with the hiring of skilled professionals increasing to 52 per cent from the pre-Covid levels. It was also reported that there has been a 163 per cent year-on-year growth in the hiring for June 2021, as per the data from the Quess report.
Big cities in India such as Bangalore, Hyderabad and Pune where IT companies are densely present, have seen double-digit growth in the hiring activity. This points to the uniform revival of more jobs in the sector. The IT industry is maintaining this growth trend of increased hiring by way of introducing a continuous demand for skilled persons who work in the sector.
Vijay Sivaram, CEO, Quess IT Staffing said that these developments were most visible in the changing landscape of India Inc., where they were witnessing the addition of more Global Capability Centers across India, as well as an expansion of existing firms into Tier 2 and 3 cities. However, he stated that the growing need for remote talent, these companies are looking beyond just India and are looking to explore other APAC countries such as the Philippines, Vietnam and Sri Lanka.
Another thing that should be noted is that while these companies are working on transitioning their legacy systems and build next-gen platforms and processes, the demand for talent in technology skills is booming. New-age HR solutions such as Hire-Train-Deploy help bridge this demand-supply gap through focused, skill-based resource hiring.
Sivaram was reported as saying that while these macro factors give wind to the industry’s sails, there is also an important shift that is to be noticed at the micro-level. New buzz words such as ‘workforce skilling’, ‘resource management’ and ‘automated talent acquisition processes’ are apparently driving the change and paving the path for new business agendas.
Hiring data for the period between March to August 2021 accessed from the report have suggested that the demand for talent with digital skills such as Full-Stack, React JS, Android, Angular JS, and Cloud Infrastructure Technologies, Cyber Security etc., has seen a surge since October to March 2020-2021.
Coming to the matter of recent events, Covid-19 and the pandemic have been the greatest influencers for the shift to digital boardrooms and remote hirings. Some of the Top IT companies such as Tata Consultancy Services (TCS), Infosys and Wipro said that they were looking to hire more than 1 lakh, college freshers, to their cause in this fiscal year. This was announced in July of this year. For instance, TCS was looking to hire over 40,000 freshers within the fiscal year 2021-2022.
Infosys on the other hand was looking to hire around 35,000 college pass-outs from around the globe for FY22 according to a statement issued by the Chief Operating Officer, Pravin Rao. “As the demand for digital talent explodes, rising attrition in the industry poses a near-term challenge. We plan to meet this demand by expanding our hiring program of college graduates for FY 22 to 35,000 globally,” said Rao.