IT Firms Hired 85,000 Employees, Break 6-Year Hiring Record; But No One To Claim These 2.5 Lakh IT Jobs
On one side, there is a rise in employment in the IT industry and on the other side, there are no employees that have the appropriate set of skills to be hired for jobs.
Yes, that is the ironic situation of the IT industry of India. A report has stated that the IT industry has hired a ‘record number’ of employees in the first quarter of 2019. Whereas, another news shows that there is not much supply for the demand for the correct skills in the field.
What might be the reason behind the lack of skills in candidates in spite of the hike in hiring? Find out right here!
Hiring In The Hiring Industry is High: Hires Record Number of Employees
A recent report by an equity research firm CLSA states that the number of employees has gone up in the first quarter of the financial year 2019, (April-June quarter). As much as 85000 employees have been hired in this first quarter, which is a record number. This is the highest number of employees hired in six years.
As per industry experts, this hike in employment is due to the IT industries preparing for the predicted high in the demand in future. The fact that the USA has tightened the noose around the H-1B visa rules.
Pareekh Jain, an IT outsourcing advisor and founder of Pareekh Consulting said, “The hiring trend of Indian IT firms moves in a crest-and-trough pattern. Most of the hiring done by domestic IT firms was in anticipation of demand, which these firms wanted to cash in.”
Job Hikes, But No Employees
Another news shows us that there are 2.5 lakh openings in the IT industry, but there are no candidates who fit the job descriptions perfectly. Apparently, there has been a speedy advancement in technology, and no engineers have the right skills to work with them.
As per NASSCOM, the National Association of Software and Services Companies, which is the lobby of all the IT companies in India, 40% of the employees need to brush up their existing skills if they need to work in the fields that are rising now, such as Artificial Intelligence, IoT, Machine Learning, and blockchain spaces.
There is a clear gap between the demand for skills and engineers not having them. We don’t know for sure what the reason behind this is, but there is a possibility that newly passed out engineers might not be trained well enough.