The Indian information technology services (IT) and business process management (IT-BPM) industry is expected to hire 3.75 lakh staff to reach a headcount of 4.85 million in the financial year 2022, said a report by TeamLease Digital, the specialised staffing division of TeamLease Services.
The report claimed that the industry which is on a positive hiring trajectory is likely to touch 10 M employee base in next 5 years and the contract staffing is expected to move up from 3 percent to 6 percent of this base.
Meanwhile, the report noted that the optimism is not just restricted to overall hiring, it is also impacting the model of employee-employer contract as well. While full-time employment commands the volume, with 17 per cent growth it is contract staffing that will gain significantly from the positivity in the market, it said, adding that IT contract staffing is expected to reach a headcount of 1.48 lakh employees by March 2022.
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Meanwhile, the report noted that the optimism is not just restricted to overall hiring, it is also impacting the model of employee-employer contract as well.
While full-time employment commands the volume, with 17 per cent growth it is contract staffing that will gain significantly from the positivity in the market, it said, adding that IT contract staffing is expected to reach a headcount of 1.48 lakh employees by March 2022.
Digital skills on Demand
The report further revealed that digital skills are what the industry has set its eyes on this fiscal. Amongst digital skills, 13 skill sets are going to largely in demand and are in fact expected to record a 7.5 per cent growth in this fiscal over FY21 and the trend is similar in the contract staffing space too.
The report estimates that the demand for contract staffing for Digital Skills will grow by 50 per cent, which is an increase of 19 per cent when compared to last year. While there is exponential demand for digital skills and so is the supply gap, the report found that the demand-supply gap is widening for data engineering, data science, machine learning and artificial intelligence skills.
The majority of the companies are opting for upskilling with or without certification (70-75 per cent), create a talent pipeline from graduate population (10-15 per cent), embrace contractual hiring (5-10 per cent) and cross train from other industries or domains (5 per cent), it added.
Demand-supply gap concerning
“The Indian IT-BPM sector is at the cusp of unprecedented growth. Apart from being the largest private-sector employer (employees around 4.47 million people), the IT-BPM industry is transforming India into a hub for digital skills.
43 per cent of our customers are expecting to increase digital skills hiring by at least 30 per cent or more this year, however, what is concerning is the demand-supply gap. Addressing the talent deficit will require organizations to re-look at their HR strategies,” said Sunil C, Head-Specialised Staffing, TeamLease Digital.
