The fourth industrial revolution has made technology an integral part of our life. The need for software and technology workers in India has increased considerably as enterprises around the world expand their technology usage in the aftermath of the COVID-19 outbreak. With this, IT talent has become indispensable.
Companies are constantly searching for people that are knowledgeable about existing and new technology. In-demand IT roles in 2021 will include positions focused on advanced technologies such as artificial intelligence, augmented and virtual reality, and the Internet of Things, as more businesses undertake digitalization.
The importance of IT employees will continue to rise steadily, with certain in-demand professions, such as full-stack developers, expected to see significant development in the coming years.
Tata Consultancy Services, Infosys, Wipro, and HCL Tech, India’s top four IT firms, have all declared plans to hire more fresh graduates this fiscal year, with a total of 1.6 lakh individuals expected to be hired. This is despite the fact that turnover among the four organisations has increased as a result of the industry’s high demand, making it a market where talent rules.
According to Naukri JobSpeak, an estimate of recruiting activity across a number of companies in India, hiring demand in the IT software and services industry was 55% higher in June than it was in January 2021 and 51% higher than it was in June 2019.
The IT recruitment surge contrasts sharply with the state of the Indian economy, which is still recovering from the negative effects of a recent COVID-19 outbreak that infected millions of people and interrupted business. Because of the increased demand for IT expertise, salaries have risen by as much as 50% in certain cases, and employers are trying hard to make competing offers in order to keep their employees.
Why is there a surge in job opportunities?
Companies all across the world are undergoing large-scale IT transformations as a result of the epidemic. They’re adopting cloud technology and data analytics, which is causing a surge in talent needs.
According to research by Nasscom and McKinsey, digital transformation partnerships. Organisations and enterprises have been forced to speed the adoption of digital technology which has increased by 30% since the virus began, while cloud investment has increased by 80%.
As the quantity of experienced workers is limited, businesses would have to hire and train new employees. It will take a few quarters for the supply situation to improve for them to be able to meet the demand scenario.
If there hadn’t been a pandemic, these IT businesses would have continued to use traditional server-based strategies, and the growth boom would have been spread out over time. The pandemic has accelerated the demand for IT businesses to supply digital revolutionary goods to their clients.
IT firms have also had record deal inflows and some of their greatest commercial wins in the last year. As a result, demand for talent has greatly surpassed supply.
Full-stack developers, cloud engineers and architects, cyber security professionals in IT infrastructure, big data analytics, and other talents have been in high demand in the Indian IT industry.
Hiring new graduates is no longer a seasonal venture. Companies in the IT industry have expanded their fresher recruitment and are developing in-house talent.
With a dramatic upheaval in the manner of working, the digital world has brought everyone closer together without compromising productivity. So, before being onboarded, applicants who just qualified are getting intense and effective training.
While many companies have put in place processes to onboard personnel remotely, some of them are doing it on a regular basis. Adding to this would affect the time it takes for a person to be trained well enough to be deployed on a project, which is the most significant statistic at this point.
Companies may also react in real-time to increased turnover rates and the ever-changing demand-supply disparity by staggering recruiting.
Rising turnover in the business creates a near-term difficulty in closing the demand-supply gap as demand for digital skills rises.
Prior to the pandemic, the business had a set season for new hires, but it now staggers them throughout the year to accommodate shifting demand needs.
IT firms want to ensure that they have the proper talent while continuing to invest in their current employees. They want to boost campus recruitment, and they’re doing so at an unprecedented scale, wagering on the demand environment’s long-term stability.
The present dynamics of the corporate world have undoubtedly changed as a result of rapid digitalization. It has increased the need for more technologically savvy management graduates. As a result, there is a greater need for leaders who are familiar with digital transformation.
Companies are seeking individuals who are full-stack developers, cloud engineers and architects, cyber security professionals in IT infrastructure, big data analytics. Such candidates can be a valuable asset to a business.