Job market is facing a grilling time and the jobs are far and few. Between the rise of automation and Indian tech service companies, new jobs continue to be created, although at a slightly slower pace. However, these new jobs require higher skills and therefore, reskilling is crucial to the industry.
Given the crunch time, job market is further expected to fall by 30-40 percent in the manufacturing sector compared to last year, according to TeamLease Services Ltd.
However, despite being overcrowded, IT is still applicable across all industries, helping transform businesses acting as a common link.
Ketan Kapoor, CEO & Co-founder, Mettl believes the sector is set for revival and jobs will take off soon. He told BW Businessworld, “The IoT space is booming in India with about 65 percent of Indian start-ups working on it. The government is working to lay out regulations for machine-to-machine (M2M) communications. Once that happens, the sector will truly take off, and job opportunities will follow for those who have the necessary technical knowledge and practical skills.”
The gap in the academic curriculum and the industry requirements has been the biggest issue for the IT/ITeS industry in India. The lack of experience among IT professionals is a major reason for the slow growth in the sector.
Companies need to ensure that new employees hired meet organisation’s needs and possess the required technical skills for the job role and can conduct certification and training programs to equip new hires with relevant skills and make sure they meet their true potential.
Ketan adds, “A more practice–centric approach will immensely help software companies in employee training. Moreover, while traditional IT services will continue to be in demand, companies need to focus on providing assessment services which are data-driven and competency mapped digital technology services.”
The rapidly evolving IT sector demands a range of skills from professional to meet the ever-increasing demand for digital services. Knowledge of data science and analytics, Python, Scala are among the top skills in demand at present.
Additionally, new-age technological tools such as machine learning and IoT are in huge demand as digital services companies as well as equipment manufacturers look to tap into the younger consumer demographic segments.