Indian Economy News

IT cos to hire 76% more in Dec-Mar, finds study

Mumbai: There may be some good news for IT professionals. Employers in the tech industry expect a brisk hiring pace of 76% over the next four months (December 2016-March 2017) across the country, with a substantial number of companies using contract talent, a survey says. This comes despite the uncertainty in the industry due to US President Donald Trump campaigning earlier to limit outsourcing in US, as well as industry body Nasscom expecting a lower growth in single digits.

The survey — findings of which were shared with TOI exclusively — says software development is the area in demand, while those with a combination of complex and niche skills will be most sought after. The survey by Experis IT, an arm of HR consulting firm ManpowerGroup India, is relevant for both job-seekers and employers, Experis IT president Manmeet Singh told TOI.

He added that, due to complex requirements in IT firms and startups, and emerging automation and artificial intelligence, there will be a need for constant upskilling and re-skilling among job-seekers. This would be particularly relevant as employers have reported difficulty in filling jobs because of talent shortage and gaps in skillsets.

Employers also need to reconsider and plan to re-skill existing talent, and can seek employment trends pertaining to practice areas, skills and experience levels, to hire right talent, the survey says. The hiring outlook is positive for the first quarter January-March 2017, after facing a dip in October and November, Singh said.

The Experis IT Employment Outlook Survey of over 1,000 top- and mid-tier employers, including IT and ITeS companies reveals south (34%) and west (20%) with strongest job prospects for the upcoming months, followed by north (18%) and east (3%) respectively.

Highest hiring intention was reported for candidates in the mid-level experience (three to eight years) slab, with 24% of the total respondents stating ".NET skill" would lead the demand over the next few months. Interestingly, 22% of IT firms are looking for candidates with multiple skillsets — a combination of niche and complex IT skills.

According to Manpower's global talent shortage survey, Singh said 48% of employers surveyed in India reported difficulty in filling jobs, with IT professionals being in the top spot. So, to tide over the shortage in skilled IT talent, firms are increasingly hiring IT professionals on contract, as it's cost-effective, and improves flexibility and agility of companies.

The survey paints an optimistic picture even as the domestic IT industry is facing multiple challenges, with analysts expecting a lower export revenue growth, and hence revising their guidance downwards for the sector.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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