57% of IT Professionals Would not Consider Returning to IT Services Sector: Survey
2 years, 2 months ago

57% of IT Professionals Would not Consider Returning to IT Services Sector: Survey

News 18  

As many as 57 per cent of IT professionals claim that they would not consider returning to the IT services sector in the future in a recent survey ‘Talent Exodus Report’ released by tech staffing firm, TeamLease Digital. The survey reveals that employees’ preference has changed from salary to flexibility, career growth, and value proposition. Read | In World of Quiet Quitting Microsoft Nadella Coins New Term ‘Productivity Paradox’, Here’s What it Means Sunil Chemmankotil, Chief Executive Officer, TeamLease Digital, said, “With the usual demand for salary hikes and other benefits, the main attraction for employees in their new jobs is ‘Great Reflection’ on the internal policies and external factors that should be relooked at by employers as we are viewing great changes in the employees’ feelings about work and life.” “Organizations’ strategic hiring plans must contain goals towards their employees and their betterment. India’s $227 billion industry spurred global companies to bolster investments in services, ranging from cloud computing, digital payment infrastructure, cyber security, etc.

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History of this topic

India's Entry-Level Job Market Set To Thrive With Competitive Salaries Across Sectors: Report
3 weeks, 5 days ago

India's Entry-Level Job Market Set To Thrive With Competitive Salaries Across Sectors: Report

ABP News  

The Software Development and Engineering domain, which involves coding, designing, and maintaining software, is set to offer competitive salaries, according to a recent report from TeamLease. TeamLease Digital's analysis highlights the changing landscape of entry-level job roles across key sectors like Global Capability Centers, IT Products & Services, and Non-Tech industries for FY 2024-25. The report also reveals that entry-level …

India on track to increase its workforce to 457.62 million by 2028, says a new report by American software company
1 month, 1 week ago

India on track to increase its workforce to 457.62 million by 2028, says a new report by American software company

Hindustan Times  

India is on track to increase its workforce from 423.73 million in 2023 to 457.62 million by 2028, reflecting a net gain of 33.89 million workers, a report said on Wednesday. According to a report by American software company ServiceNow, emerging technology will transform talent across India's key growth sectors, generating 2.73 million new tech jobs by 2028. "AI will …

Indian IT Services Companies See Growth in Revenue, But Hiring Slows Down
2 months ago

Indian IT Services Companies See Growth in Revenue, But Hiring Slows Down

Live Mint  

Indian IT companies are seeing a rebound in revenue growth, with four of the five largest companies hiring more people in the first six months of the fiscal year compared to the year-ago period. This positive guidance comes at a time when the companies' order books have shrunk in H1FY25 compared to H1FY24, but the current quarter (Q3) is not …

India's top 5 IT firms continue headcount decline for 7th straight quarter
4 months, 3 weeks ago

India's top 5 IT firms continue headcount decline for 7th straight quarter

Business Standard  

TCS led the ranking with total 606,998 employees, while Infosys came in second with 315,332 employees For the seventh consecutive quarter, India’s top five IT services firms have experienced a decline in headcount. The news report quoted Deepti S, business head of technology staff augmentation at staffing company Xpheno saying, “The gradual slowdown of the degrowth with the quantum of …

Working in IT sector? Infosys, Wipro & TCS' average salary hikes are much less than you think
5 months ago

Working in IT sector? Infosys, Wipro & TCS' average salary hikes are much less than you think

Hindustan Times  

Employees of India's top three IT companies with only generic skills are seeing salary hikes fall to single-digit percentages of 5-9% in the financial year 2023-24 after a two-year period of double-digit growth, the Times of India reported, adding that this is due to clients of the companies reducing their spending due to economic challenges. Employees of India's top three …

Bridging the Gap: How India Can Unlock the Potential of its Service Sector - News18
6 months, 3 weeks ago

Bridging the Gap: How India Can Unlock the Potential of its Service Sector - News18

News 18  

The service sector has undeniably been the primary driver of India’s growth since the year 2000. Skill Gap In India, the skill gap in the labour force is a significant challenge, with only 51 per cent of the youth deemed employable due to a lack of necessary skills. Efforts to bridge this gap must include public-private partnerships, such as the …

Don’t take India’s strong services exports story for granted: Goldman Sachs
7 months, 3 weeks ago

Don’t take India’s strong services exports story for granted: Goldman Sachs

The Hindu  

April 29, 2024 09:57 pm | Updated 10:08 pm IST - NEW DELHI While India’s services exports had grown sixfold between 2005 and 2023 to about $340 billion and were potentially poised to hit the $800-billion mark in 2030, Goldman Sachs cautioned against complacency citing challenges such as the lack of skilled talent and resource stress in key hubs like …

India’s services export grew faster than global average in 2023: UNCTAD data
7 months, 4 weeks ago

India’s services export grew faster than global average in 2023: UNCTAD data

Hindustan Times  

NEW DELHI: India’s annual services export grew at 11.4% in 2023 against the global average of 8.9% and surpassed China which witnessed a 10.1% contraction in the year, according to the quarterly bulletin released by the United Nations Conference on Trade and Development. Robust services trade helped India to compensate for a 3.11% year-on-year contraction in merchandise exports in FY2024 …

The expanding demand for IT professionals in the nationwide | Explained
8 months, 2 weeks ago

The expanding demand for IT professionals in the nationwide | Explained

India Today  

The planet that we live on today is no longer the way it was in the past centuries. This IT sector in India is currently in dire need of skilled and knowledgeable IT professionals who can fulfill the needs and demands of the industry. BCA PROGRAMME The curriculum for the BCA programme is sculpted to provide the students a strong …

Working in IT services companies? You could expect this much salary hike in 2024
9 months, 1 week ago

Working in IT services companies? You could expect this much salary hike in 2024

Hindustan Times  

India’s information technology sector is expected to see flat salaries in 2024 while hiring may also be less in these companies, Economic Times reported quoting sourced from a top hiring firm. Salary Hikes 2024: In 2021, the sector saw salary increments at 8.8% which rose to 9.7% in 2022, the data showed as per the report. In 2021, the sector …

This sector will see highest salary growth in 2024 while job cuts will be in…
9 months, 2 weeks ago

This sector will see highest salary growth in 2024 while job cuts will be in…

Hindustan Times  

India Inc could see a 9.6% salary increase on average in 2024, similar to the actual increase last year, as per a report by EY ‘Future of Pay 2024’. Salary Increase: This is what India Inc could see in terms of salary rise in 2024. Abhishek Sen, partner, EY India, said in a statement, “While overall average salary increase in …

Manufacturing versus services: A false binary
10 months ago

Manufacturing versus services: A false binary

Hindustan Times  

The debate around India’s policy focus — whether it should be on manufacturing or services — is once again heating up. India’s share of global services exports is currently ~4.4%, and the country is already the largest provider of telecom and information services. The other pillar of the country’s export strategy — services exports — is where India already has …

Companies battle for small pool of IT employees: Mint-Shine report
11 months ago

Companies battle for small pool of IT employees: Mint-Shine report

Live Mint  

Companies, both IT and non-IT, are grappling with one another to dip into the same cohort of skilled IT employees, leading to a talent gap that India Inc. is struggling to fill. “Beyond conventional talent acquisition, we are actively shaping a workforce capable of leading in an era marked by constant technological evolution.” The gap is prominent as new skill …

Will GCCs disrupt India’s IT services industry?
1 year, 6 months ago

Will GCCs disrupt India’s IT services industry?

Live Mint  

The release of Nasscom’s GCC 4.0 report, prepared in association with global management consultancy firm Zinnov, marks a possible inflection point for the $200-billion Indian IT services industry. Nasscom clearly sees global capability centres as a big growth area that could tap India’s large, low-cost pool of technical talent. According to Nasscom’s analysis, the first wave established GCCs as outposts, …

Tech sector workers most loyal to jobs, least likely to switch careers: Survey
1 year, 6 months ago

Tech sector workers most loyal to jobs, least likely to switch careers: Survey

Live Mint  

Employees from the technology sector are least likely to switch their careers in India, according to a survey by jobs platform Indeed. However, in the tech sector, some job roles exhibit varying levels of resistance to new careers. Besides the technology sector, the food industry also has witnessed more loyal people with their careers. The ‘stickiest’ jobs tend to be …

New challenges in the Indian IT industry are changing the employer-employee dynamic
1 year, 6 months ago

New challenges in the Indian IT industry are changing the employer-employee dynamic

Hindustan Times  

Indian IT has been a poster child for India not just because of its size and scale but, more important, for its continuous innovation in response to changing market dynamics. First, fast growth in machine learning and Artificial Intelligence is making many old low-tech jobs redundant and creating massive demand at the very top end, which the industry cannot meet …

Indian IT sector to reduce college hiring by 40%, will prioritise last year’s offers first
1 year, 6 months ago

Indian IT sector to reduce college hiring by 40%, will prioritise last year’s offers first

Firstpost  

Currently, the job market for the Indian IT industry is extremely competitive due to companies increasingly laying off employees as a cost-cutting measure. In light of this situation, an analysis conducted by recruitment firm TeamLease Digital has revealed that most Indian IT companies are planning to hire 40 per cent fewer freshers during the financial year 2023-2024. The report also …

TS's tech muscle grows, IT exports likely to zoom 20%
1 year, 7 months ago

TS's tech muscle grows, IT exports likely to zoom 20%

Deccan Chronicle  

Hyderabad: Exports in the Information Technology sector from Telangana are likely to cross Rs. 2.2 lakh crore for the 2023-24 fiscal, a 20 per cent growth from the previous fiscal’s export figure of Rs. According to the IT and communications department, the growth rate in job creation was 24 per cent in 2021-22, on over 6.28 lakh jobs created in …

Bad news awaiting tech grads entering the job market
1 year, 10 months ago

Bad news awaiting tech grads entering the job market

Live Mint  

NEW DELHI : Technology companies are likely to hire engineering graduates at the previous year’s levels of ₹2-4 lakh per annum, industry experts said, adding they expect no increase in freshers’ pay this year as hiring winds down after a year of aggressive recruitment. We expect large IT services firms to offer salaries of ₹3.18-4 lakh for entry-level campus hires," …

Watch | Business Matters: Will global layoffs jolt India’s IT industry?
1 year, 10 months ago

Watch | Business Matters: Will global layoffs jolt India’s IT industry?

The Hindu  

There has been a slew of layoff announcements in the Western corporate world these past months, gathering pace over recent weeks. E. Balaji, currently Global chief HR officer at TVS Supply Chain Solutions, who has also been a senior leader in the manpower placement industry for more than a decade prior to this position, says fear of reputation loss and …

IT, startups may cut up to 20,000 jobs in next 6 months
1 year, 11 months ago

IT, startups may cut up to 20,000 jobs in next 6 months

Live Mint  

India’s IT and startup sectors may lay off 15,000 to 20,000 employees in the next six months, battling slowing demand after the hiring frenzy of the last two years inflated salary costs. Over the last year, companies faced the fear of missing out on talent hiring and recruited in large numbers and paid them many folds more than inflation and …

Cooling hiring frenzy is good news for IT firms
2 years ago

Cooling hiring frenzy is good news for IT firms

Live Mint  

High attrition rates have been a headache on the margin front for Indian information technology services providers. Industrial policy eyes forex pile for finance Cartels may get to settle cases without admitting offence A further sequential moderation would be on the back of a slowdown in hiring trends. In Q2, net employee hiring for IT services companies halved year-on-year to …

Why are we getting mixed signals from India's job market?
2 years, 1 month ago

Why are we getting mixed signals from India's job market?

Business Standard  

Meta CEO Mark Zuckerberg made the announcement on the impending layoffs on Wednesday afternoon. In India, IT companies have also reduced hiring at engineering campuses, with media reports suggesting up to 20 per cent fewer hires in campus and entry-level placements in the next financial year. Writing for Business Standard, the Managing Director and CEO of Centre for Monitoring Indian …

Destination India: Services Sector Is The Next Big Opportunity To Achieve $5-Trillion Economy
2 years, 1 month ago

Destination India: Services Sector Is The Next Big Opportunity To Achieve $5-Trillion Economy

ABP News  

India has made tremendous progress over a period of time. From being a predominantly agrarian economy, India has transformed into a services sector-oriented economy that contributes over 50 per cent to the GDP. Around 697,453 foreign tourists came for medical treatment to India in 2019, making up 6.4 per cent of the total foreign tourist arrivals in India. During 2010-2019, …

India@75: IT sector’s historic rise since Independence to become a global powerhouse
2 years, 3 months ago

India@75: IT sector’s historic rise since Independence to become a global powerhouse

Firstpost  

Considering its fast growth pace, India is at the centre of global IT attraction with players betting big on the future of IT in India Technology has changed the way we communicate, pay bills, commute, interact with governance, and even the way we perceive entertainment. Our government’s flagship initiative, Digital India, has aided in spreading internet access in the remotest …

India to lose $118bn in GDP, 5mn jobs by 2026 if it lags in cloud adoption: Nasscom
2 years, 5 months ago

India to lose $118bn in GDP, 5mn jobs by 2026 if it lags in cloud adoption: Nasscom

Live Mint  

India may stand to lose $118 billion in GDP contribution and five million job opportunities by 2026, if businesses and government are late to cloud adoption, said industry body Nasscom in a recent report. Large scale Cloud adoption can contribute $380 billion to India’s GDP and add 14 million direct and indirect employment opportunities by 2026, it said. Moreover, with …

TCS sees fall in staff attrition, robust demand for IT services
2 years, 6 months ago

TCS sees fall in staff attrition, robust demand for IT services

Live Mint  

India's top software services exporter Tata Consultancy Services expects the rate of staff departures to fall and demand for its services to rise as companies continue with their pandemic-hastened digitisation processes, a company executive said. More tech talent is expected to enter the job market from startups facing funding crunches, as central banks withdraw stimulus and hike rates, TCS Asia …

IT Jobs in India: IT BPM Sector to Hire 3.75 Lakh Employees in FY22; Know Details
3 years ago

IT Jobs in India: IT BPM Sector to Hire 3.75 Lakh Employees in FY22; Know Details

News 18  

The Information Technology and Business Process Management sector is expected to see a hiring boom in 2021-22 amid increased investments as well as rapid growth of adoption in technology by enterprises across India. While full-time employment commands the volume, with 17 per cent growth it is contract staffing that will gain significantly from the positivity in the market, said the …

Neither Cyber Coolie nor Body Shopper, IT Industry Has Earned Indian Passport Global Respect
3 years ago

Neither Cyber Coolie nor Body Shopper, IT Industry Has Earned Indian Passport Global Respect

News 18  

An Indian becoming the CEO of Twitter has once again raised questions around Indian economy, opportunities for Indians in India and the IT industry. You can’t compare the opportunities that a $22-trillion economy with 330 million people and a per capita GDP of around $66,000 will provide with a $3-trillion economy with 1.38 billion people and a per capita GDP …

India's IT services sector to see 4.5 lakh gross employee addition in second half of FY22: Report
3 years, 1 month ago

India's IT services sector to see 4.5 lakh gross employee addition in second half of FY22: Report

Hindustan Times  

Indian IT services sector is expected to see a gross employee addition of about 4.5 lakh in the second half of the fiscal ended March 2022, according to a report by market intelligence firm UnearthInsight. With higher attrition in the second half of around 17 to 19 per cent, the industry is expected to have a net employee addition of …

India poised to achieve Services export target of USD 1 trillion by 2030: Piyush Goyal
3 years, 1 month ago

India poised to achieve Services export target of USD 1 trillion by 2030: Piyush Goyal

India TV News  

Terming the 'Services' sector as the key driver of India's economic growth, Union Minister Piyush Goyal on Tuesday said that India is poised to achieve the Services Export target of USD 1 trillion by 2030. Goyal while speaking at the ' Export PromServicesotion Council- Global Services Conclave 2021' at the national capital said, "Services sector provides employment to nearly 2.6 …

Organisations in India project 9.4% salary increase in 2022: Aon survey
3 years, 3 months ago

Organisations in India project 9.4% salary increase in 2022: Aon survey

The Hindu  

Notwithstanding the COVID-19 second wave hitting the nation hard, Indian organisations have displayed resilience, and the salary increment is being projected to grow from an average of 8.8% this year to an estimated average of 9.4% in 2022, according to a survey. According to the Aon's 26th Annual Salary Increase Survey released on Tuesday, most businesses have an optimistic view …

Career in IT/ITeS sector: 5 skills to master in 2021
3 years, 3 months ago

Career in IT/ITeS sector: 5 skills to master in 2021

India Today  

A majority of organisations across sectors are skeptical that the second wave of the novel coronavirus could hit the economic gains and inroads made in the last 6 months, post the national lockdown. IT/ITeS has been an exception, with reports suggesting that India's IT/ITeS sector is expected to grow by 2.3 per cent to USD 194 billion in the 2020-21 …

Indian IT sector continues to be net hirer, top 5 IT cos to add over 96,000 employees: Nasscom
3 years, 6 months ago

Indian IT sector continues to be net hirer, top 5 IT cos to add over 96,000 employees: Nasscom

Live Mint  

IT industry body Nasscom on Thursday said the sector continues to be a net hirer of skilled talent, and the top 5 Indian IT companies are planning to add over 96,000 employees in 2021-22. The industry continues to be a net hirer of skilled talent, adding 1,38,000 people in FY2021," Nasscom said in a statement. "The industry is upskilling more …

53% Indian Firms Plan Hirings, 60% Set to Increase Salaries as IT Sector Leads Rebound
3 years, 10 months ago

53% Indian Firms Plan Hirings, 60% Set to Increase Salaries as IT Sector Leads Rebound

News 18  

With TCS piping Accenture to become the most valuable IT company in the world, India’s IT sector has successfully negated the naysayers. Now, according to according to professional recruitment services firm Michael Page India’s ‘Talent Trends 2021 Report’, 53 per cent of companies say they are planning to increase their headcounts in 2021. According to the report, India projects an …

India’s IT and business services market to reach $13 billion by Dec 2020: IDC
4 years ago

India’s IT and business services market to reach $13 billion by Dec 2020: IDC

Live Mint  

India's IT and business services market is expected to grow 5.4% annually to reach $13 billion by December this year, research firm IDC said. "During H1 2020, application hosting services and infrastructure hosting services continued to be higher growth markets on account of increasing adoption of cloud applications and cloud infrastructure," IDC said. "In H1 2020, the role of IT …

Indian IT Services Growth Set for Comeback in 2021, Pandemic to Fuel Digital Spends: Fitch Ratings
4 years, 2 months ago

Indian IT Services Growth Set for Comeback in 2021, Pandemic to Fuel Digital Spends: Fitch Ratings

News 18  

The Indian IT services sector is expected to return to high single-digit revenue growth in 2021-2022 galvanised by higher demand for digital transformation after a flattish 2020, according to Fitch Ratings. In a new report titled ‘Spotlight: Indian IT Services Sector’, Fitch said the impact of the coronavirus pandemic is seen to be only moderate and short term, as customers …

IT services will continue to be significant part of India’s job environment: TCS CEO Rajesh Gopinathan
4 years, 3 months ago

IT services will continue to be significant part of India’s job environment: TCS CEO Rajesh Gopinathan

Live Mint  

IT services will remain a significant part of the job environment in India as the demand for talent and services continues to grow in the country, according to Tata Consultancy Services CEO and MD Rajesh Gopinathan. The relative ratio of IT to other industries is a factor of what happens in the larger economic scenario.in the foreseeable future, IT services …

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