As Indian IT companies
witness a slowdown in business, recruitment firms are seeing a sharp increase in the number of resumes
from mid-level employees. At least two firms that hunt senior-level employees for companies
confirmed a surge in the number of resumes
from IT employees with experience ranging from 7 to 15 years during the past six months.
Head Hunters India, a specialised recruiting agency for the IT sector, said it has seen “as much as a 200% jump in resumes
from mid-level and senior employees."
IT services sector has seen a major disruption in the use of technology amongst their clients with the emergence of digital technologies such as cloud, artificial intelligence and machine learning. This has called for re-skilling of a significant chunk of the 39 lakh workforce in the $150 billion IT services industry.
A recent report by McKinsey India
said, “The bigger challenge ahead of the industry
will be to retrain 50-60% of the workforce as there will be a significant shift in technologies.” The report further said if techies do not re-train themselves they might become “irrelevant”.
“We are getting resumes
of mid-level employees from top IT services companies
and small ones. What is really surprising this time is some of these employees are offering to pay us for helping them find jobs. While we look at a six-month period for them to get jobs, there are not enough positions available in the market currently,” said Kris Lakshmikanth, chairman and managing director, Head Hunters India.
He, however, said the flow of these resumes
slowed to some extent last month.
Some of these senior employees may also have opted for online coding jobs on a freelance basis on hourly payment from organisations in the US and other markets, said analysts. “Alternative options could be joining small businesses in tier-II cities or working on some digital India projects,” said another senior official of a recruiting agency, who requested anonymity.
refuted layoff fears in the IT sector
and said the industry
was a net hirer of nearly 1.5 lakh people in FY17. Analysts pointed out hiring may have happened at entry-level positions for people with 3-4 years of experience, but there is a concern for mid-level employees.