By Sachin Alug, CEO, NLB Services
Amidst the ongoing macroeconomic environment, IT firms have reported positive growth momentum in their consolidated net profits, increasing attrition continues to be a concern. Industry players have reported an average of 13-15% of attrition rates.
Despite these challenges, the spending environment has shown steady improvement, with companies expressing optimism about sustained growth in the coming quarters. On the talent front, IT giants are heavily investing in upskilling their workforce for AI, GenAI, Cloud, Cybersecurity, Data Analytics and emerging technologies. Externally, this opens significant opportunities, while internally, generative AI is being leveraged to enhance efficiency and productivity across operations. Consequently, skills in Deep Learning, NLP Engineering, AI Ethics and AI Systems Architecture are also becoming critical at all levels of the organizational hierarchy, leading to an expected uptick in hiring for these roles in Q4.
The ‘AI-first’ vision of these companies is also driving a push in campus recruitment. Major IT giants plan to integrate AI across its operations and expects employees from entry-level to senior-level to acquire AI-related skills. Incidentally, majority of campus hiring in the upcoming quarter will focus on skilled professionals in Cloud Computing, Data Engineering, and Software Development.
Overall, IT companies remain committed to employee upskilling, well-being, and embracing technological advancements, which will drive growth and unlock more job opportunities in the coming quarters.