The Information Technology and Business Process Management (IT BPM) sector is expected to witness a rapid growth in technology adoption by enterprises across India along with increasing investments in 2021-22. According to a new report, the IT BPM industry is expected to add 3.75 lakh new employees in 2021-22, thereby increasing the total workforce to 48.5 lakh. The positive trajectory of hiring in information technology and business process management comes amid the COVID-19 pandemic, which has increased the importance of technology and digitization more than ever. According to the report published by TeamLease Services, the total number of workers will increase from 44.7 lakh to 48.5 lakh.
According to the TeamLease Digital Employment Outlook Report from TeamLease Digital, the specialized staffing division of TeamLease Services, optimism is not just limited to overall hiring, it is also affecting the model of employee-employer contracting. The report surveys more than 100 employers and leaders, including contract staffing chiefs and subject matter experts.
The report said that while the volume of full-time employment is at a growth of 17 per cent, it is the contract staff that will benefit immensely from the positives in the market.
According to news agency PTI, the report said that the number of IT contract workforce is expected to reach 1.48 lakh employees by March 2022.
Acceptance of contract staffing is not limited to corporates, even as candidates are opening up to the concept of contract staffing, it said, adding that around 10-15 per cent of contractual IT-BPM joiners in FY22 will be in full-time employment. are from, PTI quoted the report as saying.
The report further revealed that digital skills are what the industry has set its eyes on this fiscal.
Among the digital skills, 13 skill sets are going to be in massive demand and in fact are expected to register a growth of 7.5 per cent in FY2011 this FY and the trend is similar in the contract staffing space as well.
The report estimates that the demand for contract staffing for digital skills will grow by 50 per cent, up 19 per cent from last year.
While the demand for digital skills is growing rapidly and so is the supply gap, the report found, the demand-supply gap for data engineering, data science, machine learning and artificial intelligence skills is widening.
Most companies are opting for upskilling with or without certification (70-75 percent), building a talent pipeline from the graduate population (10-15 percent), recruiting contractual recruits (5-10 percent) and cross-training. are including. Other industries or domains (5 percent), it added.
“The Indian IT-BPM sector is on the cusp of unprecedented growth. Apart from being the largest private sector employer (about 4.47 million people), the IT-BPM industry is turning India into a hub of “digital skills”. About 43 percent of our customers are expecting at least an increase in the hiring of digital skills. This year 30 per cent or more, however, is related to the demand-supply gap,” said Sunil C, TeamLease Digital Head of Specialized Staffing.
Addressing the talent shortage will require organizations to rethink their HR strategies and the organization can solve the talent shortage by ensuring upskilling, re-skilling, and near-skill culture and training across the organization And it will give good results.
“IT BPM industry is set to touch 10 million employee base in next 5 years and contract staff is expected to grow from 3 percent to 6 percent of this base.” Sunil said.
read all breaking news, today’s fresh news And coronavirus news Here.
,