The IT and Business Process Management (BPM) sectors saw a reduction in hiring in September due to economic pressures. But a recent study showed that 51 percent of the respondents believe that recruitment opportunities will increase in the next six months. Nearly one-third (34 percent) of the respondents said that recruitment is going to decline, while as per the CIEL HR study, 15 percent believe that it will remain the same, meaning it will neither increase nor decrease.
The study is based on an online survey of 10 lakh employees working in the top 50 IT/BPM companies operating in India. During the pandemic, IT companies saw increased demand due to the wave of digital transformation across the globe and had largely hired people. Now that demand has subsided, companies are ‘rightsizing’ again.
Bangalore tops in giving jobs
The study further revealed that there was a higher level of optimism in hiring intentions by companies among respondents from smaller companies. On the other hand, majority of the respondents of mid- and large-sized companies were more pessimistic about the hiring outlook. On the job front, the study found that Bangalore continues to be the most preferred destination for IT and BPM talent with 28 per cent job opportunities.
- Delhi (14%), Hyderabad (13%) and Pune (12%) come in numbers. Out of the total job postings, foreign MNCs have contributed about 66% of the jobs. While Indian MNCs contributed 18 per cent.
Companies are also ready to spend more money
Aditya Narayan Mishra, Managing Director and CEO, CIEL HR Services, said the demand for IT talent, which was at its peak during the first half of the year, saw companies vying for hiring. Companies were willing to spend the extra money to get the resources into the company with the right skills. But the aspect of cultural engagement was overlooked in this recruitment frenzy. The result of this was seen when people came back to the office and started working.
- Many people had to bear the brunt of this situation and the company terminated the contract with them. He said the performance of big tech firms is under pressure as they are not able to bring anything innovative.
The IT and Business Process Management (BPM) sectors saw a reduction in hiring in September due to economic pressures. But a recent study showed that 51 per cent of the respondents believe that recruitment opportunities will increase in the next six months. Nearly one-third (34 per cent) of the respondents said that recruitment is going to decline, while as per the CIEL HR study, 15 per cent believe that it will remain the same, meaning it will neither increase nor decrease.
The study is based on an online survey of 10 lakh employees working in the top 50 IT/BPM companies operating in India. During the pandemic, IT companies saw increased demand due to the wave of digital transformation across the globe and had largely hired people. Now that demand has subsided, companies are ‘rightsizing’ again.