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IT is Booming

India’s IT industry continues its hiring spree with the addition of new, technological advancements and a higher demand for IT services

By Zee Johnson

Throughout the pandemic, several Indian industries saw an uptick in hiring, the IT sector being one of them.  And this year, that won’t change.

The Monster Annual Trends Report by Monster.com revealed that in 2022, 96% of India-based companies are planning to or will more than likely hire new, skilled staff for future big data analytics-related roles. Of that number, the IT-hardware/software industry is expected to see a 23% increase in hiring compared to December 2020 through 2021.

Sekhar Garisa, CEO of Monster.com, expects the coming year to be one riddled by progression. “The year 2021 was definitely a year of recovery. As we step into the new year, we are optimistic about paving the way for better employment opportunities in 2022,” he says. “The future of work is location-agnostic and hybrid, with increased skilling initiatives being undertaken by both employers and employees. Further, leading tech-enabled industries such as IT, FinTech, BFSI, and crypto will continue to flourish with talent demand spikes.”

The IT sector attributed much of its organic growth to recent technological developments and the industry’s growing demand for digital skills.

Several other industries that witnessed even larger percentages of growth last year include the banking, financial services, and insurance industry (31%), production and manufacturing (31%), and the telecom/ISP industry (27%). For the banking sector in particular, tech influences have helped with its continuous growth, as the pandemic made way for digital banking.

Regionally speaking, the top cities that boasted job growth, many in part to IT, were Bengaluru (42%), Chennai (30%), Pune (29%), and Hyderabad (24%).

With the industry’s expansion, the need for highly skilled workers became even more prevalent. Mid-senior level (seven-ten years) and intermediate (four-six years) professionals saw an uptick of 31% and 27%. Whilst senior level (11-15 years) professions witnessed an 18 % growth and entry-level (zero-three years) came in at 12% growth last year.

“Leading tech-enabled industries such as IT, FinTech, BFSI, and crypto will continue to flourish with talent demand spikes,” Garisa says. “It is also interesting to note that employee flexibility would be critical towards retaining talent in the future, and the ‘Great Shuffle’ is a reinforcement of how the huge demand in the jobs market is opening the door for employees to select a career of their choice.”

 

 

 

 

 

Tags: APAC, HR Technology, Talent Acquisition

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