Hiring into technology companies touches all-time high in July and August and it will continue up to end of 2021. Witnessing a 20 per cent sequential increase, indicating a strong revival of economic growth and a recovery of business from the impact of Covid-19, Jefferies sees a strong hiring boom on account of the post-pandemic rush for the outsourcing of IT jobs to India.
According to the report, as businesses continued to ride the wave of digitisation, the IT-software and software services sector maintained its growth momentum with an 18 per cent increase .
The top five IT companies, representing about 30% of the 44 lakh employed in Indian IT and BPO industry, hired 55,000 in the first quarter of the ongoing fiscal. They could end the year with 1.3-1.5 lakh net hires, nearly 50% higher than the best year in the last decade.
There has been a strong growth in the e-commerce, startup boom is absorbing most of the talents in the country. As we have seen more than 20 startups have reached the status of Unicorn in this year itself, large internet initial public offers are underway and around $12 billion (Rs.90,000 crore) venture capital have been raised in the first half of the year, higher than 2020,as per Jefferies.
It has been also seen that, several tech skills are also reportedly seeing sharp salary hikes. It leads to a sharp increase in the attrition rate.
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