In Fiscal Year 2023-24, the IT/Tech sector is expected to hire 1.55 lakh freshers, marking a decrease from 2.3 lakh freshers hired in the previous fiscal year, according to insights provided by tech staffing firm TeamLease Digital.
The current job market scenario, with approximately 1.5 million engineering graduates actively seeking IT/Tech roles, is characterised by muted sentiments and intensified skills evaluation mechanisms, resulting in a challenging landscape.
TeamLease Digital's findings indicate that only 45 percent of applicants presently meet the well-rounded proficiency expectations, underscoring a widening skill gap. Notably, some major IT companies have chosen to freeze their intake of fresh talent, prompting increased demand in alternate sectors.
A significant shift in the hiring landscape is observed, with Global Capability Centers (GCCs) and non-tech sectors such as BFSI, Communication, Media and Technology, Retail and Consumer Business, Life Sciences and Healthcare, Engineering Research and Development, and Energy and Resources expanding entry-level hiring opportunities.
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Recognising the urgency for upskilling and training interventions to comprehensively address market needs, industry veterans stress the importance of a blend of soft and hard skills. Companies are seeking a combination of soft skills, including communication, problem-solving, teamwork, and emotional intelligence, alongside hard skills such as technical proficiency in programming languages, software development methodologies, cloud computing, and data analytics.
Freshers, in turn, can enhance their employability by focusing on improving industry-specific skills, particularly digital aptitude and proficiency in utilising digital tools and technologies.
Addressing the current educational landscape, TeamLease Digital emphasises the need for institutions to prioritize the integration of industry-specific training programs into their curriculum. Such programs are designed to equip freshers with the latest technological skills, enhancing their overall employability.
Furthermore, extending these training initiatives to faculty members ensures they remain well-versed in the latest technological advancements, facilitating effective knowledge transfer between educators and students.
Courses that align with the skills employers expect
TeamLease Digital also recommends the most sought-after courses that align with the skills employers expect candidates to possess and can significantly boost their employability.
These courses include Data Science with R Certification, SQL Certification Training, Postgraduate Programs in Artificial Intelligence, Cybersecurity and Machine Learning, and Digital Marketing, as well as Professional Certificate Programs in Blockchain and Web Design Certification, among others.
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“The tech world is evolving rapidly, and we need to keep up. It is not just about companies broadening their hiring horizons, but also about ensuring that the talent pool of our country is ready for it. A united front can be forged through the collaborative efforts of the industry, academia, and government, leading to relevant programs and curricula being designed,” said Krishna Vij, Business Head, TeamLease Digital.
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