Indian Economy News

2 out of 3 firms are paying for employees' upskilling programme: Scaler Survey

  • IBEF
  • August 18, 2023

According to ed-tech firm Scaler's 2023 hiring survey, Indian tech companies are turning to upskill existing employees to bridge their talent gaps amid layoffs and a hiring freeze.

Over 100 startups, product multinationals, IT service providers, and global capability centres (GCC) in the nation were surveyed.

According to the survey, almost two-thirds of the respondents funded upskilling initiatives for their employees.

As per the findings of Scaler’s hiring survey 2023, about 61.6% of the respondents are paying for their employee upskilling programme. 72.02% of the respondents said that data science/algorithm is the most important skill. Further, 91.02% of the respondents said they are looking for candidates with a problem-solving mindset and 38.3% of the respondents believe that the shortage of skills is the most formidable challenge in the tech sector. In addition, about 76.02% of the respondents said that they are encouraging hybrid work models in their respective organisations.

As per the study, nine out of ten participants think that employees' problem-solving skills are more important than education in the big picture. But when hiring, the latter is employed as a fundamental filter to narrow the field of candidates.

Scaler's 2023 hiring survey showed that less than 16% of the respondents said there is a complete hiring freeze, while 38% said that only replacement hiring is on, especially in startups followed by product multinationals.

The in-house survey included over 100 partner companies across sizes and sectors, including IT services and staffing, product companies, and startups, to gain insights into the current hiring trends across the tech landscape. The findings are based on the interactions with chief human resources officers (CHROs), talent acquisition heads and chief experience officers (CXO) from organisations such as Walmart, Adobe, Zomato, Infosys, InMobi, Samsung, Razorpay, and Xpressbees, among others.

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