It’s more and more jobs in the Indian tech sector. Indian IT services, startups and other product companies are hiring 70,000 people across just six roles, offering an average salary hike of 50-60 percent
The Covid Crisis has created disasters for countries around the world. However, it has emerged as a boon for the country’s IT professionals. Massive capital inflows have enabled corporate as well as startup IT companies to initiate all efforts to acquire talent pool.. Not only that, IT companies are competing with each other to offer this skilled pool.
Startups are making creative offers to attract talent, while reputable large companies are expanding hiring programs and reviewing their compensation salary pakages.
Demand for this specialty has grown significantly as a result of tide in the IT industry. Software professionals who at one time only focused on large companies are now eager to join startups.
For the job seeker, multiple options are available and multiple choices give him the ability to choose. The candidate will take an offer which is already a 30 per cent increase and demand an additional 10 per cent. Then it gets a 40 percent increase. Until then he is relieved, if he finds a third company he can tell him that he will join in 2 days and get 10 percent premium.
The talent market is comparable right now. On the engineering side and on the technical side there is stiff competition to attract the right candidates. If you look for quality engineers, there is already a shortage. Due to the shortage, expectations are rising. They are looking for flexible work, CTC and technology stack. Companies that are going to provide quality work with all this are able to draw candidates.
“On the non-technical side, there is a huge talent pool and there is no shortage. There is fierce competition on the engineering side and on the technical side to attract talent.
“Big companies can afford, they’re able to attract talent because they’re able to provide better work environments, better benefits, they’re also able to provide brand and job security, stability. Funds are coming in for start-ups and their sustainability. They will also try to engage talented people for growth.
Engineering talent is in a position to benefit. Therefore, anyone who is actively looking for a job will have multiple options, anyone who is not active will still receive inbound requests from multiple companies. Just as companies are trying to get the best candidates, they are also trying to get the best offers.
In times of stressful epidemics, technical jobs provide much needed pillows. Large information technology (IT) service firms and start-ups are looking for immediate talent as demand for products and services continues to grow as the enterprise goes digital.
Hundreds of jobs are open at major technology companies, willing to pay a premium to retain and hire talent.
According to a report shared by specialized staffing firm Xpheno, Indian IT services, start-ups and other product companies are hiring 70,000 people in just six roles and offering an average increase of 50-60 per cent.
These job roles are full stack developers, data engineers, reactive native developers, DevOps, backend engineers and machine learning. The number of job openings has exploded in the last few months after companies adopted a conservative approach when the Covid-19 erupted last year.
According to UnearthInsight, Indian IT recruitment is underway, with companies expected to add a total of 450,000 employees in the second half of the current financial year.
That means a lot of applicants, a lot of job interviews and a lot of competition.
Here are some other useful insights from the study.
The recruitment will be mostly lateral (with work experience), but fresher intake will also be higher than last year.
About 250,000 freshers have been picked up in FY22 so far by 30-odd local and multinational IT services companies.
The top five companies for fresher hiring in FY22 are: TCS (77,000), Cognizant and Infosys (45,000 each), HCL Technologies (22,000) and Tech Mahindra (15,000).
Given the high attrition rate of 17-19%, the addition of net employees in the second half of FY22 will be close to 175,000. This is likely to remain elevated before a slight improvement of 16-18% in FY23.
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