Reportedly, there are several engineering students who graduate each year but struggle to land their desired jobs in the country.
Supporting these findings, the media reported that only 10% of the 1.5 million engineers graduating this year may actually be able to find jobs in businesses.
Why would This Happen?
While all this is happening you must be wondering about the main reason for this.
This is mainly affected by the “global economic slump”, and which has affected the IT companies as they had to slash hiring freshers by 35% to 40% as compared to the previous year.
In a pleasant development, the hiring engineering candidates is again expected to reach to “pre-pandemic levels,” as per the media report.
Further, this report talks about future hiring of over 160,000 freshers can be expected to be hired.
So far, 230,000 are already hired in the 2023 financial year.
It appears that the companies were going through a journey of digital transformation during FY22.
That is why they increased the hiring of over 400,000 freshers but the attrition levels also went high at 30%.
Need For Talent & Skill Proficiency
Considering the latest scenario nowadays companies are preferring to hire mid-level professionals with over 12 years of experience over freshers, as per the media report.
If this trend continues, only one in 10 graduating engineering students will get a job this year.
They have reached this conclusion by referring to the global demand opening in alternate sectors in GCCs (Global Capability Centres) along with other sectors including BFSI, life-sciences & healthcare, engineering R&D and energy, as per the report.
Moving ahead only around 45% of engineering students might fulfill the market criteria, the report said.
It is also noteworthy here that the skill proficiency will also be critical in this scenario.
It appears that the recruiters are looking for talented candidates having soft skills such as problem-solving, emotional intelligence, communication, and teamwork.
Besides this, the recruiting firms also expect the candidates to have technical proficiency in software development methodologies, programming languages, cloud computing, and data analytics.
While recruiting, the recruiting firms have to incorporate additional efforts in order to develop some of these skills to enhance the productivity of the engineers.
Besides these skills, the freshers can further improve their hiring chances if they focus on continuous learning and upskilling in various aspects including cybersecurity, data science, artificial intelligence, and machine learning, the report suggested.
In addition to this, the engineers are also required to have ethical judgment, social awareness, leadership, management, and interpretation skills besides these skills, as mentioned in the media report.
