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Business News/ Industry / Human Resource/  Indian IT firms likely to recruit around 50,000 freshers in next five months: Report
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Indian IT firms likely to recruit around 50,000 freshers in next five months: Report

Indian IT sector expects to hire 50,000 freshers between July and December 2023. There is a trend of increased hiring in tier-2 and tier-3 cities, with a blurring gap between metro and smaller towns.

Hiring intent in companies, including startups is at 73% between July-December 2023Premium
Hiring intent in companies, including startups is at 73% between July-December 2023

A recent survey has mande an optimistic hiring forecast in India's IT sector. According to the latest survey by TeamLease EdTech platform, major Indian IT firms are gearing up to recruit approximately 50,000 freshers across various job roles encompassing both IT and non-IT sectors nationwide between July-December 2023.

The ed-tech platform said that the rapid adoption of digital transformation initiatives, along with, the emergence of new business opportunities in Cloud Computing, Artificial Intelligence (AI), Cybersecurity, and other cutting-edge technologies, has become a catalyst for substantial growth within the IT industry.

According to Shantanu Rooj, Founder and CEO, TeamLease Edtech, "Jobs like AI, blockchain, cloud computing, etc are going to lose their 'exotic' tags soon and will become the tools as common as a calculator or a laptop today... It will be irresponsible for any company not to imagine including AI in their entire business strategy today. There is a broad spectrum of job roles, and skill sets that employers are looking for in new-age employees".

After surveying 737 small, medium, and large companies across 18 industries across India, the TeamLease report mentioned that the hiring intent in companies, including startups is at 73% between July-December 2023. The hiring intent for freshers is 65%. The demand for newer talent has marginally increased by 3% against 62% between January-June this year.

The top-3 industries that intend to hire freshers in the current HY [July– December 2023] are E-commerce and Technology Start-ups (59%), Telecommunication (53%), and Engineering & Infrastructure (50%), respectively.

The key job roles freshers can expect to be employed in are DevOps Engineer, Chartered Accountant, SEO Analyst, and UX Designer, as per the report. It added that Business Analytics, Blockchain, Cloud Computing, data encryption, supply chain management, machine learning, data analysis, and Search Engine Optimization (SEO) are some of the significant domain skills that employers expect in freshers.

‘DEGREE APPRENTICESHIP HIRING SEGMENT IN INDIA’

As per the TeamLease report, companies are also rapidly turning to degree apprenticeships as an innovative talent acquisition strategy. In the past few years, there's been a steady increase in the number of employers willing to engage apprentices. In 2023, for example, the manufacturing industry demonstrated a noteworthy inclination to recruit apprentices, peaking at 12%, followed by engineering (10% hiring intent), and the power and energy sector demonstrated a solid 7% intent to hire apprentices.

‘POSSIBLE JOB VACANCIES IN OTHER SECTORS’

Apart from the IT sector, a surge in hiring for different jobs could be witnessed in different sectors such as manufacturing, e-commerce, telecommunication, pharmaceuticals, etc in the next six months.

The TeamLease platform stated that several foreign firms are making substantial investments exceeding $1,200 million in establishing electronic manufacturing plants across India. This initiative is expected to create over 20,000 job opportunities across a wide range of fields.

In addition to this, India's telecommunication market is likely to create more than 1,000 job openings for freshers in big companies due to the rapid deployment of 5G.

Moreover, Indian consultant firms expected to hire more than 5,000 freshers across technologies like Business Operations, Software Development, Cybersecurity, Cloud Technology, Data Science, etc during the current Half Year, as per the projection by the TeamLEase report.

Speaking about the surge in hiring in tier-2 and tier-3 cities, Rooj said, "The concept of online learning, remote learning, virtual learning, has helped in upgrading skills," and added, "The gap between metro and a smaller town has started blurring".

"We are seeing a large number of well-skilled and well-trained candidates skillful available at Tier-2 and Tier-3 cities. Besides, innovative entrepreneurs are also creating interesting business models in these cities. This is a really significant moment as companies are strengthening the social inclusivity of the country," the TeamLease founder added.

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ABOUT THE AUTHOR
Mansi Jaswal
I write about gender-related issues, women's rights, women empowerment, gender equality, women's health topics, and their wealth management. Also, profiling women who have fought all odds to make their own identities in their own rights. Before Mint, I worked at Business Today and Business Standard. I studied journalism at IIMC, Delhi. Got a story idea? Email me at mansi.jaswal@htdigital.in
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Published: 08 Aug 2023, 01:26 PM IST
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