With the declining Covid cases, Indian IT companies are hiring with signs of revival after the deadly second wave in the country.
Hiring in the IT software and services sector increased 5 percent month-on-month in June with increased demand for technology, a report of Naukari JobSpeak highlighted. The IT companies continued a surge of 14 percent in May and also achieved an all-time high growth of 52 percent compared to the pre-covid level in June 2019, as per the report.
The hiring by Indian IT companies is expected to be huge in the future. Analysts at HDFC securities are optimistic about the IT sector and said that the enterprise’s investment in talent acquisition has increased. Therefore huge headcount addition is expected in the coming quarters by all the service providers.
Brokerage and research firm HDFC Securities said that the supply-side and talent crunch is not creating any pricing fluctuation in the sector, partly due to automation creating a disconnect between labor cost and rates. Service Providers are looking to hone talent in competitive areas with the prevalence of a tiered pricing structure based on skills and scope.
”We consider that greater ability for outsourcing can be supported by a tight supply scenario and scope shifting to outsourcing,” HDFC Securities’ Institutional Research note said.
Nasscom has said in June that the sector continues to be a net hirer of skilled talent, and the top 5 Indian IT companies are planning to hire over 96000 employees in 2021-22.
Nasscom, in its statement, said, “With the evolution of technology and increasing automation, the nature of traditional IT jobs and roles will develop overall, leading to the creation and hiring of newer jobs. The IT sector remains a net hirer of skilled talent, and added 1,38,000 people in the financial year 2021.”
IT industry body also asserted that Indian IT companies have robust hiring strategies for 2021-22, with the top 5 Indian IT companies planning to hire more than 96000 employees.
The industry would remain a net creator of IT jobs and committed to people-oriented innovation, relentless talent focus, and a superior transformative customer experience.