By Varun Sachdeva, APAC Recruitment & Business Leader, NLB Services
While the profits of some of the bellwethers may have missed the market estimate, the demand for talent in the IT sector is intact even in the current quarter. In fact, the robust project pipelines especially in areas of digital transformation, cloud, digital payment infrastructure, and cybersecurity, and the investments that Indian IT players are making in the emerging technologies will positively impact the talent ecosystem. The demand for talent will grow by 30-40% points in the current quarter. Some of the profiles who will be benefitted are talents skilled in data analytics, cyber security, AI & ML. These key areas will see a surge in demand for the talent pool by at least 35-40% this quarter and beyond.
The top 5 skills that will be positively impacted and the kind of growth we anticipate for each of them. Please find below the table
|Growth in hiring expected in Q2
|Artificial Intelligence & Machine Learning
|RPA (Robotics Process Automation)
The growing demand for talent is also leading to attrition. The attrition levels are still a concern and companies are exploring multiple ways to address the situation. Apart from rejigging the appraisal cycle, and investing in upskilling, companies are looking at newer models of talent acquisition. They are exploring RPO (Recruitment process outsourcing). Though not a new concept, the model is fast gaining traction in the industry. RPO projects from the IT industry will witness a 30% growth in Q2.