IT sector will continue to be an attractive destination for job seekers: TCS CEO Rajesh Gopinathan
The sector employs about 50 lakh people and the top IT companies hire around 80,000 to one lakh freshers every year
August 26, 2020 / 10:57 PM IST
Rajesh Gopinathan, CEO, TCS
The IT sector will continue to be an attractive destination for job seekers as demand for technology will only increase in the post pandemic world, said Rajesh Gopinathan, CEO, Tata Consultancy Services (TCS).
Speaking at the live interaction organised by LinkedIn on August 26, Gopinathan said, “The employment potential of India’s IT sector will continue to be quite strong and will relatively keep growing in pace with where we see the opportunity (because) demand for talent and services are only going to explode, given the role that technology is playing today and in future.”
Gopinathan pointed out that demand for digital has only increased over the last five months and companies like TCS are the forefront to take advantage of this demand, according to Kotak Institutional Equities report.
The report, quoting Gartner, estimates that IT spending would increase to 6-8 percent from 4-5 percent in the next four years, with COVID-19 pushing companies to accelerate spending.
Commenting on this, Gopinathan said there are kind of three horizons in which enterprises need to think about. "The first horizon, which has been further accelerated by the pandemic, is how resilient is your digital core. The second phase of it has been significantly driven by innovation and research and integrating them into your operating model. Phase three is a more challenging one and that will define it as purpose-led changes to industry structure by adopting ecosystems as an operating model."
Current demand in IT job landscape is reflective of these changes. While the demand for skills such as cloud, data analytics and cybersecurity has gone up, those who are unable to transition are losing their jobs. It is estimated that close to one lakh techies would lose their jobs amid COVID-19.
IT companies have also accelerated their reskilling efforts in the areas of cloud and cybersecurity in an effort to help employees transition to the new normal.