India’s $190-Billion IT services sector is planning to go strong on hiring in the new year given the increased emphasis on digitization.
The uncertainty surrounding the new coronavirus variant, Omicron, is unlikely to dampen the hiring sentiment in the IT sector as companies will continue to help businesses chart their digital transformation, leading to robust demand for professionals in areas such as digital, data and cyber security.
India’s $190-billion IT services industry continues to embolden its hiring plans for the New Year, as companies across industries adopt new digital modes of running businesses after the pandemic.
The demand for new-age tech talent will increase further in 2022, thus intensifying the already existing war for manpower in the tech space, the financial daily mentioned citing top industry experts and top company executives.
The top 10 Indian IT services companies, including Tata Consultancy Services, Infosys, Wipro, Tech Mahindra, HCL Technologies and Mindtree, would have together created 200,000 new jobs by the end of this fiscal year in March, the publication mentioned citing an estimate by specialists. The estimate was based on quarterly reports of companies. Total hiring by these companies is seen at about half a million by the end of FY22, factoring in an 18-23% attrition refill hiring.
After a series of reactive corrections over 2020, the IT services sector found its rhythm in 2021 and nearly doubled its talent demand as compared to 2020.
The second half of 2021 has been strong with monthly active openings exceeding 110,000 and this is expected to stay for the rest of the fiscal year and well into the next.
Going by the learnings from the last 20 months, the potential hiring impact of a third wave or Omicron is expected to be low if not minimal.
(Source: www.timesnownews.com)