Hiring Trends in IT/ITes in 2017

Posted on 19th Jan 2017 | 1038 views

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Here's how IT/ITes, service sector and manufacturing sectors will create jobs in the current fiscal year.

Hiring

IT/ITES :-

  • The Indian IT sector is expected to grow at a rate of 12-14 per cent for FY2016-17 in constant currency terms.
  • Indias internet economy is expected to touch Rs 10 trillion (US$ 146.72 billion) by 2018, accounting for 5 per cent of the countrys GDP
  • Exponential technologies including robotics, virtual and augmented reality (VR) (AR), 3-D printing, and artificial intelligence (AI) are opening up significant areas of opportunity.
  • Cognitive technologies such as machine learning, natural language processing, and speech and pattern recognition are being embedded in software applications, imbuing big data with superior capabilities.
  • The Internet of Things, Cyber security products and services are another area with a bright future.
  • IT companies are expected to hire in lesser volumes because of automation.

Services sector :-

  • Services sector employers anticipate a booming labor market, reporting an Outlook of +43%,
  • Services sector employers expect an active hiring pace, reporting an outlook of 25 per cent.
  • The performance of trade, hotels and restaurants, and transport, storage and communication sectors are expected to improve in FY17.
  • Education sector expected to see maximum growth as there will be more demand for the teaching professionals.
  • Pharma sector also expected to see 20% growth in hiring activities.
  • Mid level professionals with 5-10 years experience will be most sought in 2017.

Manufacturing :-

  • Manufacturing sector to see 15% growth in hiring activities and it would one of the top job generators in 2017.
  • However, hiring outlook remains subdued in manufacturing in coming months as three quarters of the participants in second quarter of 2016-17 are unlikely to hire additional workforce in next three months.

Small and Medium Enterprises (SME):-

  • Small businesses by a significant measure of 72% compared to the previous half year.
  • More small businesses are optimistic about hiring this half year than there were during the last.
  • Any of these are startups that have survived the onslaught of funding woes and are discovering white spaces for furthering their rapid growth.
  • SMEs will be expected to see an increase in senior level hiring growth in 2017.
  • Mobile internet and transforming small-town aspirations are drivers of this trend.

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