Fewer people to be hired this year by Tech companies
Early indications from the Tech industries show that 250 lakh jobs will be created this year as 3 lakh jobs were created in the last year The Indian...
CHENNAI: Early indications from the Tech industries show that 2.50 lakh jobs will be created this year as 3 lakh jobs were created in the last year. The Indian IT companies entrust entry level coding roles to machines and migrate to just-in-time hiring of the engineers.
A senior Nasscom official said, “We will create 2.50 lakh jobs this year. These are early indications.” Though the jobs created at the engineering college campuses will remain the same. People with experience of 2-8 years are likely to see a reduction. TCS chief marketing officer Ravi Viswanathan said, “Our retention rate is increasing and it is highest among peers,” he added that TCS has seen its retention rate rise to 90 per cent from 86 per cent four years ago.
“Quite clearly, the correlation between headcount and revenue addition, which so far has been the story of the Indian tech services industry, is changing big time. It is not only due to disruptive technologies, but also due to emerging business models that emphasise effectiveness rather than efficiency,” said K Ramachandran, head of strategy in a E-learning startup 361degreeminds.
Viswanathan, marketing officer in TCS said, “ We will recruit nearly the same as last year from campuses. 20,000 freshers were hired last year. Though other large tech recruiters are lowering their recruitment.
“Traditional MNCs in the service sector will see a 15 per cent drop in hiring compared to last year, whereas product companies and startups in the space will see a rise. But the jump will not be enough to offset the drop in recruitment by the services sector,” said Aditya Mishra,CEO of Ciel HR Services.
“There is a change in the job requirement for techies, whose roles are moving towards robotic process automation and other niche skills Moreover, the drop in hiring is confined to the services sector only and not across the spectrum. GICs are recruiting,” said B N Thammaiah, MD of Kelly Services. They are aligning the roles of professionals in their company said Thammaiah.