3.75 Lakh Vacancies – IT-BPM Industry to Added in Next Financial Year 2022: Report by TeamLease Digital. According to a report by TeamLease Digital, the specialised staffing division of TeamLease Services, the Indian information technology services and business process management (IT-BPM) industry is expected to hire 3.75 lakh people in the financial year 2022, bringing the total headcount to 4.85 million. According to the survey, the industry, which is on a favourable recruiting trend, is on track to reach 10 million employees in the next five years, with contract employment predicted to grow from 3% to 6% of that total.
Meanwhile, according to the research, the optimism isn’t only affecting total hiring; it’s also affecting the employee-employer contract paradigm. While full-time work accounts for the majority of employment, contract staffing will benefit greatly from the market’s optimism, according to the report, with contract staffing predicted to reach 1.48 lakh jobs by March 2022.
Digital skills on Demand
The research also highlighted that the sector is focusing on digital capabilities this fiscal year. Thirteen digital skill sets are predicted to be in high demand this fiscal year, with a 7.5 percent increase expected over FY21, and the trend is similar in the contract employment market.
According to the research, demand for contract workers for Digital Skills would climb by 50%, representing a 19% increase over the previous year. While the demand for digital skills is growing at an exponential rate, the supply gap is expanding for data engineering, data science, machine learning, and artificial intelligence skills, according to the research.
The majority of organisations are choosing for upskilling with or without certification (70-75%), building a talent pipeline from the graduate population (10-15%), embracing contractual hiring (5-10%), and cross training from other sectors or domains (5%), according to the report.
Demand-supply gap concerning
“India’s IT-BPM sector is on the verge of explosive expansion. Apart from being India’s largest private sector employer (with 4.47 million employees), the IT-BPM business is converting the country into a digital skills hub. However, the demand-supply imbalance is troubling for 43% of our clients, who plan to expand digital skills recruiting by at least 30% or more this year. To address the talent shortage, companies must rethink their HR practises, according to Sunil C, TeamLease Digital’s Head of Specialized Staffing.
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