The Indian IT-BPM industry has continuously evolved in various ways to adjust to the changing economic environment. The 2008 global recession was a watershed moment as it changed the way the industry looked at operating models, including hiring patterns. Changing client expectations, budgetary constraints, new emerging lines of businesses, new technology trends, and the need to stay relevant to customers forced the industry to embark on a non-linear growth path, in addition to adding employees with new, unique skill sets. At the same time, increasing diversity of the workforce is driving the need to foster deeper connects.
In view of the continuously changing environment, NASSCOM recently conducted a dip-stick survey of its member fi rms to understand the hiring outlook for FY2014. We received responses from around 30 fi rms who account for over 20 per cent of industry workforce and nearly 30 per cent of export revenue (FY2013).
Key highlights include:
- Industry to remain a net hirer; hiring sentiments positive despite tough business environment
- Attrition no longer a challenge for the industry, with most fi rms recording steady or decreasing levels
- There are clear, discernable shifts in hiring patterns with respect to background, skill sets and location:
- Firms are expected to hire most just in time than planned campus hires
- Soft skills and domain knowledge are increasingly being sought after in candidates
- Data scientists is the most in demand technical skill set, engineers and statisticians the most sought after domain skill, and leadership and customer interaction capabilities the most popular soft skill
- Hiring is increasingly going global as fi rms expand their footprint across the globe
- Industry absorbs ~15 per cent of annual engineering turnover; job opportunities for engineers from non-IT sectors – energy, healthcare, manufacturing, media, etc.
- Entrepreneurship ecosystem developing rapidly in India creating additional jobs
- NASSCOM’s IT-ITeS Sector Skills Council is working jointly with NSDC and academia to develop future talent:
- Assess demand-supply gap and develop occupational standards for IT services, BPM, ER&D, software products
- Extend deployment of NAC-Tech and NAC (BPM) to access students’ abilities
- Train the faculty
- The IT-BPM industry overwhelmingly Gen Y with almost 2 million employees born after 1980
- Gen Y love challenging jobs with relaxed work environment and fast career growth; they also have a need for instant gratifi cation and entitlement which poses a signifi cant challenge
- Firms connecting to Gen Y both on professional front through rewards and recognition, trainings and career management, as well as personal front through health plans, fl exible work environment
- Promoting an entrepreneurial culture, ensuring employee safety are key focus areas for IT-BPM fi rms
- Organisations feeling the need to re-invent themselves internally – both at individual and procedural levels – to become employers of choice and to stay relevant to Gen Y
- HR increasingly employing technology for higher employee outreach – this has resulted in better communication and engagement, quicker turnaround time and improved skill mapping
- Social media: Growing in importance as a tool for employee connect and as a recruitment channel to hire across the board – from freshers to top management
This report is FREE for both NASSCOM members and non-members.
To access this report, please click here: 2013: HR TRENDS - Changing Talent Paradigm