A recent study has found that small and medium-size IT and IT-BPM companies are planning to expand their staff strength by 32 percent in next one year
While the information technology (IT) sector is seeing a downward trend in job growth, a recent study has found that small and medium-size IT and IT-BPM companies are planning to expand their staff strength by 32 percent in the next one year, the Mint reported.
The study carried out by Great Place to Work Institute, includes 146 IT and IT-BPM (IT-business process management) companies in India. It showed that instead of big corporates, small and medium firms with an average employee strength of 1,373 were more interested in expanding their workforce.
Seventy percent of employees in this segment thought that management would sack people only if other options were exhausted.
For about three-fourths of the workforce, job security is definitely not a big concern; although employees aged 25 years and below are exceptions.
Several reports of job loss in the IT industry, India’s largest private sector employer, have emerged in recent times.
Six of the largest IT companies had a net reduction of their staff strength by 4,157 people in between March and September this year. These companies, comprising TCS, Infosys, Wipro, HCL, Tech Mahindra, and Cognizant, have reduced their workforce for the two consecutive quarters of this fiscal, the Mint reported.
On the other hand, in the small and mid-size segment, positive perception on job security increased 4 percent in the last two years.
A better work culture has led employees to encourage their peers to join their companies, increasing referral-based hirings to 24 percent from 19 percent in last few years.Admiral Solutions, a medium-sized IT company, topped the list of 50 Best Workplaces in IT and IT-BPM Sector as published by the Great Place to Work Institute this year.