The startup world is out of control and is hiring tech talents with no bounds, flushed with venture capital money, said experts on Moneycontrol's fourth MasterClass on the War for Talent in the tech world.
In demand are roles such as tech stack developers and front end developers, data engineers and executives with cloud computing skills given that these are essential for building websites.
"For the next 3-4 years, this will be very relevant," said Kamal Karanth, co-founder of Xpheno is a specialist talent solutions company.
While Karanth stated that currently just in Bangalore over 5,000 jobs are open for tech talent, others opined that this euphoria will last at least for the next couple of years if not longer.
"The hiring spree will continue at least for 1-2 years, and possibly longer. The pandemic taught us everything will have tech associated with it," said Jagdish Mitra, chief strategy officer and head of growth at Tech Mahindra.
However the tough part is the insane amount of hikes these employees are getting across the board. Recently top entrepreneurs were taking to the social media stating how executives despite getting internal hikes were venturing out for newer companies with almost double the salaries.
"Startup world is completely out of control. Plenty of VC money is available and companies are spending insane amounts of talent with no regard for parity," said Ashwini Asokan, founder of Vue.ai the retail industry’s leading artificial intelligence platform.
"For the first time in many years, our recruiters did not go for a Christmas break. Activity is at its peak. That shows the context of where we are," added Karanth.
Besides having specialised skills the panelists agreed that currently companies are also looking for talents who can talk tech and at the same time have the skill to sell as well.
"Everyone needs to be full stack," said Mitra.
Asokan too stressed upon the fact that engineers are not just coders they are also product managers and solution engineers. "Everyone now needs to wear multiple hats. Learning curve is incredibly steep," she said.
Now the question is where should the tech talent be applying to in the current times? That's simple, look out for the largest VC funds and check out their biggest companies, said experts.
Now even as there's a huge demand in the industry for tech talent, Indian education system is lagging behind.
"By the time we prepare students, the technology landscape has already changed," said vice chancellor of SASTRA University.
"When we are talking about the abundant talents who lack skills, we should be mindful that engineering colleges have to bridge failed school education and aspirational industry in 3-4 years," he added.
Talking about the still prevailing gender bias in the corporate ecosystem, Asokan said that the simplest way to overcome talent crunch is to remove the gender bias in tech hiring. "We have an entire segment of talents that is untapped," she said.