Hiring in the Indian IT sector is expected to further go down in the times to come. There have been indications in the latest Monster Employment Index which says that online recruitment activity showed a steep decline amongst the IT and IT enabled Services (ITES) sector.
Experts feel that IT and ITES companies are not hiring at the same pace as they were doing a few years ago. Companies are not recruiting many people in the sector hence there is a decline in the number of online jobs posted by them.
Human Resources experts such as Kris Lakshmikanth, founder and CEO of Headhunters India Ltd, feels that it is a clear indication of declining jobs in the IT and the ITES sector. “The decline in hiring activity through online job portals indicates that there is a decline in job generation in the IT and the ITES sector due to Machine Learning and Automation. I feel that the number of job listings through online job portals by IT and ITES companies will further go down. Nearly six lakh jobs will be lost in the next three years in the IT and the ITES sector in India. Earlier, during peak times, say a few years back, companies such as Infosys used to hire 20,000 to 30,000 people a year. It has now come down to 3,000 to 6,000 people a year,” Lakshmikanth told THE WEEK.
Another expert Alok Shende of Ascentius Consulting feels that instead of focusing on the Indian market, many Indian IT services companies are trying to ramp up their onsite presence and hiring more people in US and Europe. “The decline in hiring through online recruitment portals indicates that the Indian IT services companies will be hiring lesser number of people in India as a single onsite hire will come at a cost of at least three Indian techies. In order to do that, they will decrease the intake of people in India,” said Shende.