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Gig Workforce - A solution for the growing tech talent demand supply gap
Gig Workforce - A solution for the growing tech talent demand supply gap

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Technology industry has seen a significant increase in the requirements of new age skills over the last few years. However, the supply of new age skills has not been able to cope up with the demand. This phenomenon is not limited to India, but across major economies, which also witness a significant demand supply gap across tech talent.

Source: nasscom India Tech Industry Digital Talent Demand and Supply Analysis 2023

The use of Gig has been a common phenomenon across countries globally, where organizations hire talent for their specific tech skills on need basis. A trend which is gradually picking up in India.

A recent study by Flexing IT “FlexFolio” highlights some interesting insights into the skilled gig workforce used across industries. For the technology industry the report highlighted that:

  • The industry constitutes 21% of all the free lance projects and cover a wide range of skill sets including tech innovations, software development, and new age technologies like AI and AR/VR.
  • More than 45% of tech related projects extend beyond six months which highlights client satisfaction from such arrangements and a possibility of bringing flexibility into Technology projects.
  • 60% of the projects were onsite, in line with the growing requirements of return to office mandates in the industry. This could also be driven by the tight data security requirements that is a common ask for most projects.
  • Interestingly 77% of the projects highlighted that they need full-time capacity, which again could a project requirement specifically from a data security stand point.
  • Majority of technology industry projects that hire free lancers require 5-10 years of work experience.

Share of technology projects by work experience requirements

Source: Flexing IT

  • Top 5 tech skills for which clients are hiring:
    • Data Warehousing – 27%
    • Business Analysis – 17%
    • Project Program Management – 12%
    • Software Development – Java/J2EE – 12%
    • Software Development Web Technologies – 10%
  • Top Use cases includes Metaverse consultant, digital manufacturing consultant, cloud engineer consultant.

More details on these roles in the FlexFolio report. Stay tuned as I do a quick snapshot on the Gig economy trends for FY24 across industries with more insights on the technology Industry.

Happy Reading!

 

 

 

 


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Neha Jain
Senior Analyst

Neha Jain

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