There is no doubt that India has shown outstanding resilience and adaptability in the face of a devastating worldwide pandemic. India was and continues to be one of the few nations at the forefront of technical innovation and development, leading the world in that direction. Businesses were forced to go online by the pandemic, and Indian businesses accelerated their plans for digital transformation. The sudden shift in the digital economy has increased the demand for tech talent across all business categories. The hiring boom in the tech industry has remained strong since 2020.
Over 5,000 new employees were reportedly created in the IT services sector in the years FY2021-22. The $200 billion Indian IT sector is also eager to locate resources to match the need for computer expertise despite fighting an extraordinary attrition rate. Overall, what started as a disruption in 2020 has now changed India’s hiring practices for software professionals.
Digitalization was hastened by five to 10 years by the epidemic. Since the epidemic began, businesses have invested more in cloud computing, digital consumer outreach, automation, and artificial intelligence (AI) to simplify difficult jobs. As a result, the need for employment is increasing, and we are seeing a wide range of job responsibilities and skill sets.
Most in-demand job roles
The demand for specialized professions and talents will inevitably increase as Metaverse, Web3, and Industry 4.0 approach. New positions are emerging quickly, even as data engineers, programmers, and developers remain at the vanguard of the digital transition. Among the most in-demand IT professionals right now are UI/UX designers, Low Code No Code developers, Android/iOS app developers, AR and VR specialists, and DevOps engineers. Additionally, blockchain developers, Unity 3D developers, and cybersecurity engineers are becoming more well-known.
A candidate-driven market
The epidemic increased demand for tech expertise to previously unheard-of levels, while supply growth lagged behind. Naturally, the imbalance between supply and demand has skewed the scales in favor of job hopefuls. The Indian tech talent market was suffering from a persistent shortage of talent even before the pandemic. Companies are fighting for talent and using talent poaching because there is a shortage of talent. Candidates are ruling the roost and quitting for better opportunities due to the ongoing need for ability. Attrition rates in the IT sector are at all-time highs for almost all businesses.
Mix and match hiring strategies
Tech companies are changing their hiring strategies as turnover rates in the Indian IT sector remain around 20%. In order to make use of their knowledge and cutting-edge technologies like AI and automation, almost all industries are working together with online employment platforms. For positions that are difficult to fill, the IT sector has turned to hiring contract workers and independent contractors. Several tech companies are implementing contract employment solutions to execute high-value projects on schedule and reap cost reductions. Businesses have also broadened their hiring criteria to include non-IT individuals who will be trained later. The lack of qualified talent, the high attrition rate, and the rising need for soft skills are the key factors driving this.
A diverse and distributed workforce
IT recruiters are casting a broader net to find talent as remote and hybrid employment attain a status of permanence. The idea of enlarging the IT sector’s geographic reach in search of qualified talent is gaining traction. Tech companies are increasingly choosing to hire from smaller cities rather than competing companies in major ones. Additionally, many businesses are employing people from many nations to fill acute talent shortages. Contract employment, freelancing, and remote staffing are consequently on the rise. Additionally, the IT sector is advancing diversity-first hiring.
When one door closes, another one opens, and this is exactly what has happened in the Indian IT sector. The Indian IT business inspired a paradigm change in hiring by turning to unusual personnel, from non-IT graduates to contract hires, in response to talent scarcity, high turnover, and intense competition.