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Why Is the Need for On-Demand Talent High in the Indian IT Sector?

The IT sector is on the lookout for fresh talent as an increasing number of global enterprises are going digital. With Digital Transformation becoming a priority for worldwide companies, there is a high demand for tech talent, especially in the temp industry. Temp roles for freshers and others have risen, especially in the spaces of artificial intelligence, data science, cloud computing, information security, and blockchain. Let’s take a look into what is powering this demand.

The pandemic accelerated advancements in technology

The COVID-19 pandemic forced everyone indoors. Shops too had to close their shutters and that left fewer options for them to deliver their goods to their customers. Walk-ins were non-existent and any traditional methods of advertising such as putting up billboards were now useless. That accelerated business operation digitalisation. Companies across the world were encouraged to take a strategic and innovative approach to solve problems and create more efficient processes.

Now, they’re more inclined to use software and technology to benefit themselves. That’s why companies want to bring in qualified tech talent to realise their substantial value in boosting their business operations. This applies to large, small, and medium-sized companies. If any of these industries refuse to use technology to boost their business in today’s high-tech climate, they’ll pay the price by falling behind. They’ll lose out on opportunities that could change the game for them. To avoid that, they need to hire tech experts.

Increased demand for IT Security

IT security, full-stack developers, and other such roles have seen massive growth in terms of job openings. This is because the business world has evolved to embrace technology. That’s pressurising companies to stay abreast of the technological developments taking place. To modernise IT and business operations, organisations look for candidates who are agile, creative, and decently equipped to enhance their tech abilities. The most sought-after skills are big data analytics, artificial intelligence, cybersecurity, and machine learning.

Cybersecurity is especially in demand as more organisations have moved towards using cloud-based technology to store extremely sensitive information. That leaves them vulnerable to attacks and data theft. Without a strong security system protecting their data, it’s nearly impossible for companies to confidently use tech to optimise their businesses. Similarly, many other in-demand tech roles are essential to companies performing effectively and efficiently using technology.

Shortage of qualified tech talent

The demand for digital skills is at an all-time high. There aren’t many workers that possess technical abilities, which has created a shortage of qualified candidates. That’s led to a huge war for tech talent. Employers enter recruitment battles for workers. An AWS report says that workers that need digital skills in India will increase nine times by 2025. That’s created a need for Indian companies to deliberately create learning and development programs that will upskill and reskill their workers.

Because the gap between supply and demand is large, it can be difficult for smaller companies to afford to hire top tech talent. They’d have to figure out ways to afford the right employees. That leaves opportunities open for freshers and those interested in internships. Businesses will have to be creative in their hiring approach as they must invest in tech heavily to stay in line with other companies.

Ongoing talent and retention challenges

Since the demand for tech talent is increasing, so will the competition to retain the best employees. The widening gap between the demand and supply of qualified workers will mean candidates will control the labour market for the foreseeable future. Organisations will be forced to meet their employees’ expectations and salaries will go up by as much as 50%. Candidates with niche technology skills will take advantage of this situation.

HR will have to come up with competitive packages and benefits to retain talent. They’ll also have to ensure there are enough upskilling opportunities so that the employees they hire have relevant skills throughout. Otherwise, it can be a headache to keep hiring for newer skills and offload talent whose skills have become obsolete. Companies must also ensure that tech talent has access to climb the corporate ladder. That would attract many employees to stay with them.

Hiring Strategies

There are many hiring strategies companies can employ. That includes using ways to meet their talent demand. Some companies are hiring new graduates from major Indian engineering and business schools. Many others are resorting to virtually hiring students from college campuses. A few companies are hiring non-engineering graduates.

A great option would be hiring part-time workers, gig workers, and other such flexible talents who can help companies meet their pressing tech needs without having to commit large long-term investments into the hires. Gig-workers and on-demand talent would be especially helpful as they allow companies to hire according to their immediate requirements.