IT, BPM industry poised for renewed growth

Hiring in the Information Technology sector in India has been picking up space in September, especially of professionals with 3 to 10 years of experience. Data published by LinkedIn indicates that hiring in the sector has increased by 35 percent when compared to the lockdown.

The top ten IT companies in India are looking to fill in more than 20,000 jobs in the next three months.

The IT services sector recorded the strongest growth in hiring, followed by business process management companies, global capability centres (GCCs) and software product development companies. The startup ecosystem too has started hiring for critical roles.

There are also indications that new roles in the technology and business continuity space from other countries will find their way to India post Covid-19, especially as work from home becomes the new norm.

However, the prospective employers expect every job seeker to upskill themselves and be familiar with the latest tools and emerging concept in the software industry.

Contract Hiring leads the way

The employment in the IT industry has seen a big change in the last few months, with over 20 per cent of hiring involving contractual hiring.

This trend will give companies to achieve their ‘flexi staffing’ objectives and is only set to increase in the next few quarters.

IT talent war and attrition

Those job seekers with skills that are in demand - cloud, analytics, robotic process automation, Data science, artificial intelligence and machine learning - and IT security skills can expect compensations as much as 30 percent above their current salary levels.

This attractive compensation has already led to increasing attrition levels among IT services companies. Recruitment data that we have collected over the past six weeks indicate that job seekers with skills that are in demand already have more than one offer in their hand and are bagging more offers, before deciding which one to pick.

(The author is founder and CEO of a talent-consulting company based in Bengaluru)