Looking at the trends, 2018 would be a better year for IT sector as two major segments will see expanded hiring. GICs and FinTech Companies will be the frontiers of IT recruitment in 2018.
Global in-House Centres of large MNCs would hire at-least 60,000 new people to their captive back offices in India. Fortune 500 non-technology companies are now setting up their technology centres in India.Digital is the core of these consumer facing companies. They are already well aware of this and no longer seen as an outsourced strategy. Large Banks which already have their Technology centres in India will continue to expand their IT talent base.
FinTech is another area where additional demand will come. With over 200 companies getting funded in the first half of the year the action on hiring has just begun. FinTech along with Health-Tech, Logistics should add about 25,000 IT jobs in 2018.
2018 may be a good year for the talent market. As the year of massive layoffs and retrenchments is coming to an end, India Inc is ready to kickstart the New Year with better plans for the talent of the country.
Even before the start of the next year, India Inc has some good news as pay hikes are expected to be in the range of 10-15 percent.
And now experts are hopeful about the recovery of recruitment landscape which is expected to continue as companies in mobile manufacturing, Fintech and start-ups, among others, may hire the most in 2018.
The only major challenge for these companies is finding the right talent. While work towards skill building and employability continue to be supported by the government and industry, companies still lag in getting that “right talent” they are looking for. As per the Workplace Agility Barometer Report, the lack of available talent was highlighted as a major challenge in attracting talent by 52% of the respondents.
For Telecom and IT industry, it was a year of disruption. As things are beginning to settle the hiring trends are expected to improve.
The aggressive hiring trend is already evident in the Campus Hiring zone. For instance, the first phase of the 2017-18 placement season at IIT-Kharagpur has seen over 1,000 offers by both Indian and global corporates. In addition to this, recent news shows the hiring trends moving forward. Samsung India is set to increase its hiring by 25% and other top employers hiring in 2018 include Cognizant, ICICI Bank, Deloitte, Capgemini, Wipro, Amazon, EY, HC Tech, Accenture and KPMG.