The Indian IT sector companies are resuming campus recruitment after a year, showing signs of recovery for the industry. The companies are looking to hire skilled freshers rather than entry-level jobs
The rally in IT stocks came on the heels of a major drop in US jobless claims, which fell to 233,000 for the week ending August 3-the largest decline in nearly a year.
With IT companies gradually coming out of the slump and actively ramping up their hiring efforts, a report on Thursday said that recruitment is set to surge with an estimated 8.5 per cent increase in job roles within the industry by next year. The demand for skilled IT talent is growing after a slow period late last year and early this year. Hiring is set to surge, with an estimated 8.5 per cent increase in job roles within the industry by next year, according to a report by Indeed, a global job matching and hiring platform and a subsidiary of Recruit Holdings. This data from Indeed has been compiled from Indeed Hiring Tracker and Indeeds platform data. Indeed Hiring Tracker is a quarterly report that explores the employment landscape and job market. The report further revealed that almost 70 per cent of all tech jobs currently on the Indeed platform are for software roles. The dominance of software roles on Indeed is driven by the rapid adoption of technologies by companies like A
The overall Naukri.com hiring index was dragged down by the decline in jobs in Global Capability Centers (GCCs) with a 7 per cent year-on-year decline, BPO by 9 per cent, and Education by 9 per cent
Tier-2 companies added nearly 100 senior executives from Tier-1 firms over the past couple of years in a range of roles including presidents and vice-presidents
Experts said that the reasons behind this could be a reflection of the uncertainties and slow recovery in the West and global markets, and also inflation and geopolitical conflict
We were always confident of our business mix and our incredible leadership and all other elements, said C Vijayakumar, CEO & MD, HCLTech
Tier-2 and tier-3 cities such as Thiruvananthapuram, Kochi, Coimbatore, Jaipur, Mohali, Vadodara, Chandigarh, and Indore contribute around 12-15 per cent of the country's tech talent
The IT majors are making changes in their pay increment structure to maintain margins at a time when the sector is going through a tough time globally
The tougher contracts are likely to add pressure on an industry that is already struggling
Even as the technology sector witnessed a decline in funding across the globe, founders are hopeful that a 'warmer funding season' is on its way in 2024
What did India gain from COP28? Why has IT hiring slowed down? What does the Fed pivot mean for Indian markets? How is phase-out of fossil fuels different from phase-down? All answers here
The workforce in the top 10 Indian IT companies fell to 2.06 million at the end of the July-September quarter, a fall of 51,744 people
In Q2 of FY24, TCS observed a reduction of over 6,300 in its total employee count
According to HR experts, students graduating in the academic year 2023 will find it difficult to land a job
The demand for interns is the highest in the IT industry which accounts for 35 per cent of all openings: foundit data
The study revealed that several factors contributed to the slowdown in hiring, which includes increased focus on upskilling and reskilling of existing employees, rather than hiring new ones
A survey conducted by staffing firm Xpheno found that the proportion of women employees increased 6.5% at the top IT companies in FY23
Companies were doling out up to 100 per cent hikes to hire top IT talent only a year ago, the situation has completely changed today
Amid ongoing global layoffs especially in the tech sector, hirings in India saw a 9 per cent sequential growth in February and the IT sector signalled a positive comeback after witnessing a decline