Indian IT flexi staffing industry to see significant growth
At a time when the information technology sector is evolving at a rapid pace, the Indian IT flexi staffing industry is expected to register 14–16 per...
New Delhi: At a time when the information technology sector is evolving at a rapid pace, the Indian IT flexi staffing industry is expected to register 14–16 per cent growth per annum in the next few years, says a report.
According to the report by Indian Staffing Federation (ISF), the Indian IT flexi staffing industry was worth USD 3.04 billion in 2016-2017 and is expected to witness significant growth till 2021 across top states and sectors of the country.
The penetration rate of flexi workforce in IT with respect to total IT workforce in India is 5.6 per cent, the report noted. “The pace at which IT sector is evolving, bench model of the industry where full time employees are kept on standby in expectation of new projects, is vanishing. Companies have fundamentally started opting for flexi staff to have flexibility and competitive edge over others," ISF President Rituparna Chakraborty said.
She further noted that "the results highlight the scale and potential of IT staffing to register a sustained growth of 14-16 per cent year-on-year till 2021 across top states and sectors of the country. E-commerce and Startups alone are expected to witness 17.3 per cent growth of IT flexi staff".
Staffing - an established form of outsourcing globally - is yet to be recognised and adopted as an effective means of running a business in India.
The staffing industry provides a platform for recognised employment, work choice, even compensation, annual benefits and health benefits for the temporary workforce that constitutes a sizeable segment of India's total workforce.
“We are also working with the government and other stakeholders and one of our achievements for the staffing industry is the consideration of the National Licensing at state and national level by the labour ministry. "The move will simplify doing business for corporates and increase flexi hiring across sectors," Suchita Dutta, Executive Director, Indian Staffing Federation said.