Indian IT Sector on a hiring spree | Makes 70,000 positions available for recruitment

As indicated by the Xpheno report, a specialized staffing firm, major startups, IT companies, and several other product-based companies are apparently on the lookout to recruit about 70,000 candidates across only six posts - extending a remunerative offer of a 50-60% hike in the salary package.

For the past few years, India has been dealing with a serious job crunch, which only got worse at the beginning of the nationwide lockdown period in the face of the disastrous pandemic. Several private firms and newly established businesses went down in losses and were forced to close their shutters thus rendering a lot of people jobless.

Though the nation is still struggling with the COVID-19 situation, most of the businesses have rebuilt their foundation and are functioning to their full capacities. Hence after the second lockdown in this worrisome pandemic period, tech companies are now giving a sign of relief by opening multifarious job avenues for all the techies out there!

With rapid digitization getting a hold of all the major enterprises, large IT sectors and several start-ups are witnessing a rise in the demand for their products and services. With the increase in production and work areas comes an urgent increase in the requirement of a talented workforce.

The result? Well, there are numerous positions open across key innovation firms, who are in the mood to pay a lucrative amount to put on the payroll and recruit deserving candidates.

These positions are for full-stack developers, Data science engineers, React Native developers, DevOps, backend engineers, AI and machine learning engineers.

What's more? The candidates having a prior experience of three to eight years bagged an average climb of 20-25 percent last year.

What led to the hiring spree in the IT sector?

Undoubtedly, the first phase of the pandemic was the real testing ground. There was a lot of uncertainty and a fear of the unknown surrounding all the people and companies. The first lockdown prompted the enterprises to go completely digital and work remotely in online mode.

As time progressed, people became accustomed to this change. With partial lockdowns and apprehensions fading away, the second phase has been relatively smooth except that the health crisis hit us much harder.
The number of job opportunities has detonated throughout the most recent couple of months after the conservative methodology organizations adopted last year when COVID-19 began gripping the world. This apparent surge in employment pursues the more extensive and rapid digitization of the companies worldwide.
What has been a major change is the transition to the digital mode of doing business. Technological advancement has boosted production and has resulted in higher growth rates of industries in the market. Though India's unlocking slowly, this digital way of working and buying will continue to rise.

In a letter to investors in the organization's FY21 yearly report, Rishad Premji, the Chairman of Wipro, included a statement, "Innovation is often at the bleeding edge of financial recuperation. However, the undeniable role of technology is more evident presently as the pandemic has encouraged tectonic changes across enterprises and tested set up methods of working." This shift, he said, would bring about colossal interest for tech abilities that would offset the stock and would be a critical factor in driving development.

What's surprising is that Premji had already anticipated the shortage of talents with the rise in demands. Presently organizations are having a hard time looking to hire suitable candidates to take into account the developing requirements.

The curious case of Accenture, Infosys, Cognizant, and their likes

Accenture had 3,000 positions open before the end of last year, which expanded to 18,000 in April 2021 and further accelerated to 32,000 at this point. The organization is likewise offering a hike in salary packages, contingent upon abilities, skills, and geographical factors.

“The interest for innovation and technology experts is at an untouched high, and the steady wearing away of workers at Accenture has returned to pre-pandemic levels", said Julie Sweet, Chief Executive Officer (CEO).

"Though this isn't the most elevated the organization has ever witnessed, it's happening all across industries and we are agreeable," She concluded during the recent earnings call.

The job explosion is bringing about a battle for recruiting a talented workforce- which was first hailed by Salil Parekh, the CEO of Infosys- toward the beginning of March.
Brian Humphries, the CEO of Cognizant, mentioned during the recent profit call that the organization missed out on projects since it couldn't recruit the required adept candidates.

What’s the further course of action companies are taking?

All the major technology enterprises and IT industries are presently focused on two things:

Offering pay-scale hikes to keep the existing skilled employees on the payroll. In fact, giants like TCS, Infosys, and Wipro have effectively declared the second round of raises soon after they had announced the first.
Working on developing and raising in-house talents.

TCS rolled out the increment in salaries in April 2021, only a half year after workers got their compensation increases in October 2020.

Infosys and Wipro also have reported salary increments which would come into force from July and September separately this year. Even Accenture followed similar lines and has additionally promoted about 1.17 lakh workers, of which 1,200 were given the title of the Managing Director.

In a prior communication, HCL Technology's Chief Human Resources Officer, VV Apparao, said that the organization will currently zero in on employing a larger number of freshers as compared to lateral entries in the near future.

The organization employed 40% freshers and 60% experienced workforce in the Fiscal year 2021. It is hoping to expand it to in excess of 70% in the following years and build upon in-house talent, particularly in new-age technological abilities and skills.

What's worth noting for the aspiring and already on-board candidates is that while the interest in new-age technologies, related skills, and talent has surged, hiring a highly skilled workforce externally has become quite costly. Thus, reskilling and up-skilling oneself with all the latest advancements in technologies has become vital.

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