In the IT/tech sector, 1.55 lakh freshers are likely to be hired this fiscal compared with 2.3 lakh freshers in the previous fiscal year, according to a report by TeamLease Digital.

With approximately 1.5 million engineering graduates actively seeking IT/tech roles, muted market sentiments and intensified skills evaluation mechanisms have created a turbulent landscape. The findings reveal that only 45 per cent of applicants currently meet the well-rounded proficiency expectations showcasing the widening skill gap.

Also read: IT sector swallows tougher terms amid scramble for contracts

As major IT companies freeze fresher intake, alternate sectors are opening up demand. Global Capability Centres (GCCs) and non-tech sectors like BFSI, communication, media and technology, retail and consumer business, life sciences and healthcare, engineering research and development, and energy and resources, have expanded entry-level hiring thereby exhibiting a noteworthy shift in the hiring landscape.

Skill development

Krishna Vij, Business Head, TeamLease Digital, said, “The tech world is evolving rapidly, and we need to keep up. It is not just about companies broadening their hiring horizons, but also about ensuring that the talent pool of our country is ready for it. A united front can be forged through the collaborative efforts of the industry, academia, and government, leading to relevant programmes and curricula being designed.”

Government initiatives play a pivotal role in supporting skill development and research projects aimed at tackling industry-specific challenges. This is not a one-off effort, but a collective movement to nurture talent at scale and meet the industry’s changing needs, he added. 

Also read: Web3 can unlock 8 million job opportunities in India within the next decade: report

Industry veterans are emphasising the urgent need for upskilling and training interventions to address the market needs holistically. The findings also reveal that companies are looking for a combination of soft skills like communication, problem-solving, teamwork, emotional intelligence etc. and hard skills, which involves technical proficiency in programming languages, software development methodologies, cloud computing, and data analytics. 

Along with this, freshers can also benefit from focusing on improving industry skills related to digital aptitude and proficiency in utilising digital tools and technologies, said the report. 

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