Indian Economy News

Five tech skills make up about 78% of hiring demands across industries: Report

  • IBEF
  • August 30, 2023

According to a skilling report by Quess Corp., there has been an increase in demand for technical skills such as development, SAP, automotive design, testing, and infrastructure support in the first quarter of the current fiscal year 2023-24 (Q1 of FY24). The report also revealed that companies from a variety of sectors have adopted upskilling as a strategy to bridge the emerging skill gap in India.

"The Skills Report" was introduced by business solutions supplier Quess Corp. This report provides information on the technological skills that Indian companies across industries are most in need of and is based on Quess IT staffing's operations data, which maps demand and supply in the talent ecosystem. The report focuses on the quantum of demand in Q1 of FY24.

According to the report, the "highest intent to hire" was found to be in development roles (28%), particularly for individuals with expertise across more than 65 technical platforms and proficiencies.

The most continuous and growing trend was for full-stack skills, particularly in the consulting, automotive, finance, and telecom industries. Additionally, the demand for SAP (16%) expertise, which includes both development and implementation components, has remained continuously high. Within the consultancy and global capability centre (GCC) client domains, there was a particularly significant demand for all these proficiencies.

Another desired talent was for automotive design at 14%, in both global and domestic automobile sectors. This is a result of the growing digitisation and the requirement for more technologically savvy skills. The demand for testing skills has grown (12%) in both the manual and automated sectors. A "pronounced demand" for expertise in Selenium, TOSCA, Workday, and ServiceNow is mentioned in the Quess study.

Additionally, there has been a continuous 8% demand for L1 and L2 support abilities across a variety of industries, covering more than 30 different aspects. A significant demand for skills in data science, DevOps, cloud, ERP, cyber security, artificial intelligence, machine learning, UI/UX, and other related fields was also noted in the report.

The demand for technical skills is greatest in the IT sector (15%), followed by banking, financial services, and insurance (BFSI) (15%), and digital engineering (13%). The telecom and healthcare sectors were two more businesses that adopted technology advancements.

As per Mr. Vijay Sivaram, CEO of IT Staffing, “Our nation is currently at the forefront of global technology advancements, benefiting from the best demographic play and a highly educated STEM Talent Pool.” 

In addition, the oil and gas industries are turning to digital technologies to stay competitive as the globe moves towards renewable energy. This entails generating more revenue, increasing production, and reducing overall costs. Advanced technologies such as data analytics, artificial intelligence, and the industrial Internet of Things (IoTs) are also enabling companies to optimise previously complex processes and respond more effectively to volatility, shocks, and disruptions.

In India, the IT hubs in Karnataka, Maharashtra, Tamil Nadu, Telangana, and Haryana dominated hiring activity. Remote working options and improved data services have enabled an increase in hiring across Tier 2 and 3 cities, particularly in e-commerce and financial services firms. Furthermore, the report added that Quess has been able to deploy associates in cities such as Jaipur, Coimbatore, Indore, Kochi, Gulmarg, Siliguri, and more.

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