Dec 9, 2021
By: Vaamanaa Sethi...are on a positive hiring trajectory and are expected to add 3.75 lakh new jobs by the end of this financial year (FY 2021-22).
Credit: Pixabay
...from 4.47 million to 4.85 million by March 2022, according to a new TeamLease Digital Employment Outlook Report.
Credit: Pixabay
Contract staffing is the process of hiring a worker on a short-term basis rather than recruiting a permanent employee. IT services companies, global capability centres (GCC) and product development are the top contract staffing consumers, and contribute in excess of 70 percent.
Credit: Pixabay
The report predicts that the attrition rate in contract staffing will be 49 percent in FY22 as compared to 40 percent in FY21.
Credit: Pixabay
In FY2022, the attrition rate in full-time employment is set to surge by 11 percent.
Credit: Pixabay
“The IT BPM industry is poised to touch 10 million employee base in the next 5 years and the contract staffing is expected to move up from 3 percent to 6 percent of this base,” said Sunil C, head of specialised staffing at TeamLease Digital.
Credit: Pixabay
These are the skills which will be in demand — eCommerce, data engineering, data analytics, data visualisation, full stack development, data science, cyber security, cloud and devOps, mobile app development, artificial intelligence, machine learning, UI/UX and robotic process automation.
Credit: Pixabay
According to the report, the demand-supply gap is widening for data engineering, data science, machine learning and artificial intelligence skills. The demand for contract staffing for digital skills will grow by 50 percent.
Credit: Pixabay
Sunil said, “The IT-BPM industry is transforming India into a hub for “digital skills”. 43 percent of our customers are expecting to increase digital skills hiring by at least 30 percent or more this year, however, what is concerning is the demand-supply gap.”
Credit: Pixabay