Thousands of jobs are advertised every day by Indian technology companies, and they are willing to pay more money to attract new talent or to retain the talent they already have.
The Indian information technology sector is experiencing unprecedented growth as this industry accounted for about 8% of the country’s GDP in 2020, and the export of the information technology industry is expected to increase by 1.9% this year compared to last year to exceed 150 reach. billion dollars. As stated by the “IBEF” platform (ibef.org) in a recent report.
More than 138,000 new employees have been hired in the sector in the past year, and this year the demand has doubled exponentially with the increasing need for professional specialists in this field as large and emerging IT service companies are actively seeking talent while the demand for The services provided by these companies with the significant shift to digital launched by the pandemic.
Thousands of new works every day
There are thousands of jobs that Indian technology companies advertise every day, and they are willing to pay more money to attract new talent or to retain the talent they have.
According to a report published by the specialized Indian recruitment company Xpheno and widely reported by the Indian media, Indian technology companies currently employ around 70,000 people in only 6 technical specialties, offering them an increase in salaries ranging from 50 and 60% above the salary rate that they This was common in the past.
These disciplines include software developers, computer engineers, artificial intelligence and machine learning experts and other disciplines that are now in high demand in light of the huge demand for the services and products offered by these companies.
Salaries of employees with 3 to 8 years of experience have been increased by 25% in the past year.
The MoneyControl platform said in a report that India is seeing an unprecedented growth in the number of required jobs and vacancies currently open for these companies, compared to the number of jobs at the start of the epidemic in 2020 and after the digital transformation which affected all sectors. in the country.
“Technology is often driving the economic recovery of various sectors after pandemics in general, but after the Corona pandemic and the profound structural changes it brought about across industries and practices,” said Richard Premji, president of Indian giant Wipro. a letter to shareholders at the start of the company’s new financial year In the world and the unprecedented and irreversible digital transformation it has captured, technology is truly the pioneer in restoring global economic balance. ”
He added, “This shift has led to a huge demand for talent and technical expertise, and we will see that demand exceeds supply, which will be a big factor in driving growth.”
The report indicated that what Premji predicted at the beginning of this year is already happening to companies that are finding it difficult to find the talent and expertise needed to meet the growing needs.
Take, for example, a company like Accenture, one of the largest technology companies in India. The company had 3,000 vacancies open late last year, and in April this year 2021, the number reached 18,000 vacancies. In July, the number of required jobs opened. jobs reached 32,000.
“The demand for technical professionals is now at a peak,” said Julie Sweet, CEO, adding, “It’s a phenomenon that requires study, but we’re comfortable with it.”
The company also sees a noticeable increase in the wages and salaries it provides to its employees to reward and retain them.
This unprecedented and growing demand has led to a real war between companies to attract talent.
“The company lost some important projects because it could not recruit the talent needed to implement these projects,” said Brian Humphries, CEO of India’s Cognizant.
Big increase, incentives and rehabilitation
The report said that there are two things that Indian companies are currently doing, namely: providing a noticeable increase in salaries and wages to preserve the talents they have, as a number of companies have announced the provision of additional incentives and increases have, and also the number of annual salaries they grant to their employees, and the other thing companies do It is building internal talent through intensive training programs.
In this context, Fei Aparo, Chief Human Resources Officer at HCL Tech, said: “The company will now focus on hiring newly graduated employees from universities without requiring experience, and will train them and provide them with the necessary work experience.”
The company employed 40% of its employees this year from fresh graduates and beginners in the labor market, and has enrolled 60% of its employees in advanced training programs, and it looks forward to increasing this percentage to more than 70% in the next few years to take advantage of its internal talents, This is at a time when it has become expensive to find external talent, which makes the rehabilitation and training of internal cadres more efficient and less expensive.