India’s technology sector will increase its hiring by nearly 10% in the next financial year

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The war for tech talent is going to get intense in FY21. India’s top five IT services companies – Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro and Tech Mahindra are expected to account for more than 40% of the industry’s total recruitment in fiscal 2021.

According to the ET report, India’s technology sector is likely to hire 200,000 engineers and graduates next financial year, up nearly 10% from FY20. Recruitment professionals tracking the sustained uptick in entry-level jobs across the industry. This includes hiring by the in-house technology centres of global corporations as well as the country’s software exporters.

Saurabh Govil, Chief HR Officer, Wipro said, that there is no growth for middle managers who are unable to reskill in digital technology. “We are continuously working towards reskilling the middle management bulge. If they are not successful in moving to digital, some of them are asked to move on or not given salary growth.”

Sangeeta Gupta, Chief Strategy Officer at industry lobby Nasscom, said “there is an increased need for tech jobs and though (there will) be a lag initially, the second half of the year (2021) could be better”.

However, the increased hiring is unlikely to reflect in higher headcount within IT services companies that are going through a sustained phase of both voluntary and involuntary attrition among mid-level employees, she added.

The hiring growth, fuelled by (recruitment) of people with 1-5 years’ experience will remain steady (with) major contributions from the India-based technology units of multinational companies,”, said Kamal Karanth, co-founder, Xpheno, a Bengaluru-based staffing agency.

Hiring will primarily be led by both existing and new technology centres of global companies, he added.

Xpheno’s Karanth said mid-to-senior level employees, those with more than 15 years of experience, will find it difficult to remain at their posts within major tech services companies unless they change fast. “There is bloodshed happening across mid-level roles and hence the net headcount of the tech services companies are not going to grow much. But these people will find jobs in captives.” – ET Report.


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