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Refuting reports of mass layoffs in the IT sector, <keyword id="6372077" type="CITY" weightage="100" keywordseo="Nasscom">NASSCOM</keyword> said the industry will hire about 1.5 lakh people this year on “net” basis although techies will have to re-skill themselves to stay relevant. <br /><br />Over the past few weeks, there have been reports suggesting that over 50,000 people could be laid off this year from companies like Wipro, Infosys and <keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword>. <br /><br />“We categorically reject the reports of mass layoffs in the sector. FY 2017 saw 1.7 lakh people being added, while in Q4 alone, the gross hiring was of over 50,000 by top five companies,” Nasscom President <keyword id="6378162" type="PERSON" weightage="20" keywordseo="R-Chandrashekhar">R Chandrashekhar</keyword> said. <br /><br />Nasscom said that employees will have to “re-skill or perish” as the world moves to new technologies like automation, robotics, analytics and cyber security. <br /><br />Chandrashekhar said the association has consulted its members who have assured that the industry continues to be a “net” hirer, adding about 1.5 lakh people this year. Also, new opportunities are emerging in areas like tech startups, e-commerce, <keyword id="1929810" type="UNKNOWN" weightage="20" keywordseo="Digital-India">Digital India</keyword> and digital payments. As many as 3 million new jobs are expected to be created by 2025.<br /><br />Representatives from leading companies like Cognizant, Wipro and Mindtree were also present at the media briefing. IT companies have started their annual performance appraisal cycles, which often leads to a number of terminations based on poor performance. IT companies have maintained that there is nothing different this year. “Performance-linked workforce realignment impacts about 0.5-3 per cent of the talent pool and there is no change this year. It is something every company does to stay competitive and have the right skill sets,” he said.<br /><br />However, Nasscom could not clarify the reason why there was noise around the layoffs this year. The reports of mass scale layoffs have compounded the worry in the industry, as the sector is already battling challenges in the business environment and stricter work permit regime in countries like the US, Singapore, Australia and New Zealand. Nasscom Chairman <keyword id="164918" type="PERSON" weightage="20" keywordseo="Raman-Roy">Raman Roy</keyword> said companies are making huge investments in training and re-skilling their employees on new technologies to ensure they stay upto date.<br /><br />“The need for re-skilling talent is a reality that we have to address. To keep up in a fast-evolving technology environment, the IT industry must reinvent itself by re- skilling its employees in new and upcoming technologies,” he added. Chandrashekhar said there has been a “gentle deceleration” in the growth rate of net hiring as companies move focus from scale to skills.<br />

No mass layoffs in the IT sector, NASSCOM says either re-skill or perish

The Indian technology industry is growing on the transformation path to become a digital technology industry by developing its digital capabilities and reorganising itself to make the most of this opportunity. These and many other industry trends were discussed at start of the 25th edition of the annual <keyword id="6372077" type="CITY" weightage="20" keywordseo="Nasscom">NASSCOM</keyword> India Leadership Forum.<br />
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Sharing their views, CP Gurnani, Chairman, NASSCOM, Raman Roy, Vice Chairman, NASSCOM and R Chandrashekhar, President, NASSCOM, said that with companies actively exploring new engagement models, there is a growing need for the companies to restructure and focus on capacity development to address the digital opportunities. <br />
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On the industry’s performance in FY2017, NASSCOM said that amidst continuous technology disruptions, political upheavals, and slowdown in IT-BPM global spending, the Indian IT-BPM industry is projected to grow at a rate of 8.6% (in constant currency) to reach over USD 155 bn in FY2017. IT-BPM exports from India is expected to reach USD 118 billion. India’s domestic IT-BPM market is expected to grow by 12% YoY to reach INR 2,545 bn.<br />
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The industry currently employs over 3.86 mn people, growth of 5% and addition of 1.7 lakh people over FY2016. In terms of the markets, US and APAC are fastest growing at 7.8% with gradual stabilization in the growth of the European market. Retail, healthcare and travel &amp; transportation have been the key verticals for the Indian IT-BPM industry, growing at the rate of 8%.<br />
<br /> Sharing his views, CP Gurnani, Chairman, NASSCOM, and MD &amp; CEO, Tech <keyword id="45224" type="CITY" weightage="20" keywordseo="Mahindra">Mahindra</keyword>, said, “The digital tsunami is reshaping our industry the priority is to reimagine businesses and unlock new opportunities. The Indian IT-BPM Sector is emerging as a digital solutions partner for global corporations and we are excited to work across stakeholders – customers, start-ups, academia and others to build this exciting future”.<br />
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R Chandrashekhar, President, NASSCOM, said, “while there are some uncertainties in the short term, the initial data from global analysts on tech spending in 2018 is promising, We are initiating deeper interactions with all stakeholders – global customers and industry providers – to get a more reliable and clear perspective on the projections for FY2018 and will give the guidance in the next quarter”.<br />
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India is positioning itself as the digital transformation partner for global businesses. The new emerging technologies will open up multiple areas of work for the industry and will have a significant impact on existing service lines. To brace the impact, one of the most important imperatives for the industry will be to skill / reskill the talent to gear them up for the digital opportunity. It is also important to build an industry-wide collaborative model and shape a learning ecosystem that is primed for the future. While the existing service lines will be re-imagined, newer and deeper soft-skills will be needed with increased autonomy, empowerment, and data enablement of frontline teams.<br />
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The future skills work group at NASSCOM, in partnership with BCG, is working together with the industry on a two-pronged approach to enhance the skills ecosystem - Skills vs ‘Job-specific’ Curriculum and Tech enabled Learning Ecosystem. The skills vs job-specific curriculum will mean blended job roles of the future with focus on skill based learning and certification. The Tech-enabled Learning ecosystem will be aimed at leveraging technology for building the skills that is scalable &amp; agile with focus on mobility and analytics to provide reach and efficiency. The initiative aims to skill / reskill 1.5-2 million people to be skilled over the next 4-5 years. This is a unique collaborative model in partnership with leading industry players.

IT industry to grow at 8.6% in current fiscal: NASSCOMM

As the automation era takes over, leaving several IT employees in India worried about their jobs amid the ongoing layoffs in big IT companies like Wipro and Infosys, it has almost become imperative for professionals to be where the growth is in order to survive. <br /><br />Statistics by US firm <keyword id="705315" type="ORGANIZATION" weightage="20" keywordseo="hfs-research">HfS Research</keyword> suggest India's IT services industry will lose 6.4 lakh 'low-skilled' jobs to automation in the next five years. This is alarming, given that the $160 billion industry is one of the biggest employment generators in the service sector in India. The question is which areas will have the high-skilled, high demand job roles in the near future and what skills would it take for one to qualify for these roles. <br /><br />Before that, the roles that will soon be extinct - Software test engineers, System engineers, administrators, Tech Support Staff, Maintenance engineers, Customer Services executives – If you are still in these roles, consider yourself in danger. These are going to be easily managed by AI and robotics process automation based systems going forward. A report by an online professional skilling platform <keyword id="1309724" type="ORGANIZATION" weightage="20" keywordseo="simplilearn">Simplilearn</keyword> says, these jobs will most likely disappear in about 3-5 years’ time. <br /><br /><strong>Expert’s take<br /></strong><br />Rituparna Chakraborty, Executive Vice-President and co-founder of staffing firm TeamLease Services, says “It’s a situation where the available talent haven’t kept up with the pace at which the industry was evolving and hence, many of them find themselves redundant.” Executive search organisation GlobalHunt MD Sunil Goel, on the other hand, sees this as the perfect opportunity for Indian IT professionals to identify the areas that will be worst impacted by automation. “Upgrade and get into the new-age technologies where demand is going to be huge,” he says.<br /><br />The Simplilearn findings point to a rapid rise in jobs in the areas of cyber security, cloud, DevOps, machine learning and AI in the future. If you are not in the digital domain in the coming years, you are not really in the growth areas. There’s, however, a little exception to this - Data analyst and project managers will continue to generate interest. Only the skills required to perform these roles will witness a shift. <br /><br />Navigate through a detailed insight on the new <keyword id="57650" type="UNKNOWN" weightage="20" keywordseo="IT-jobs">IT jobs</keyword> that will be in demand in the future, the salaries you can expect in these roles, and the companies that can hire you if you have the desired skill-set:<br /><br />
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
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<br />As the demand for these new roles rise in the coming years, companies across sectors will seek IT professionals who are skilled to work on new platforms and technologies. This is where res-skilling gains importance. If we go by industry statistics, IT body <keyword id="6372077" type="ORGANIZATION" weightage="20" keywordseo="nasscom">Nasscom</keyword> found in May this year that at least 40% professionals of the estimated four-million workforce need re-skilling over the next five years to keep pace with the changing face and automation of the IT industry. <br /><br />At the same time, NASSCOM also allayed fears of large-scale job losses in the $154 billion industry, equating layoffs to “workforce realignment common to any industry and a part of the yearly performance appraisal process.” However, Raman Roy, the Chairman of NASSCOM, recently called for Skill upgradation on a massive scale to equip professionals with new-age technologies such as virtual reality, augmented reality and artificial intelligence to remain relevant in the coming years.<br /><br /><strong>How you can stay relevant in the Digital Economy<br /></strong><br />While industry specific certifications are critical for upgrading a professional’s skills to keep them relevant, professionals must also consider the following ways to prepare for job roles of the future:<br /><br /><strong>1. Upskilling and reskilling:</strong> The urgency to re-skill or perish is especially striking people with mid-level experience: Nearly 57% of the 7,000 IT professionals looking to level up on Simplilearn had four to 10 years of work experience. Meanwhile, only 11% of those with under four years of experience were seeking the online courses. Rishabh Kaul, co-founder of Indian recruitment firm Belong, says early-stage employees like fresh college graduates are often provided training by employers for the first six months. It’s for the more experienced counterparts that the certification courses matter. <br /><br /><ul><li>If you are looking to re-skill, Big Data, Cloud Computing, Cyber Security, Project Management, Agile and Scrum, Digitsl Marketing are some of the areas you should be focusing at since they are the most in-demand skills in IT.</li></ul>
	
	
	
	
	
	
	
	
	
	
	
	
	
	
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<br /><ul><li>Interestingly, the Simplilearn survey finds over half of IT professionals with work experience of 4 to 10 years are spending money for courses and training programmes that help them in-learn these new skills.</li></ul><strong>2. Moonlighting:</strong> This works well for professionals who are planning to build a secondary source of income. Moonlighting can generate an additional source of income by partnering with startups that cannot afford in-house tech teams, or freelancing through websites like Upwork.<br /><br /><strong>3. Technical education:</strong> You can also focus on earning qualifications such as a Masters Degree in science in the emerging areas like robotics or AI. There are multiple e-learning providers like Coursera, Simplilearn that offer these trainings and courses that suit an individual learner’s style and pace.<br />

Automation era: The necessary skills for the new IT jobs of the future

Many of the US states are now focussing on luring Indian IT companies and offering huge incentives.<br /><br /> One of the US states which has rolled out a red carpet for Indian IT companies, especially <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> is <keyword id="26517" type="CITY" weightage="20" keywordseo="Indiana">Indiana</keyword>.<br /><br /> Indiana is offering around $31 million in incentives to Infosys as the state looks to employ many of its local IT professionals.<br /><br /> Mostly, the incentives will be in the form of tax abatements and one-time grants. What is being dubbed as one of the largest incentive packages ever handed out by Indiana, the incentives will cover majority of Infosys’ cost of setting up its centre. <br /><br /> As per several reports, Infosys said it will spend about $8.7 million to lease and equip its office space in the state. <br /><br /> "States, cities and counties can all offer incentives. The idea is to pick places that offer incentives and has a local college network that can provide talent that is cost-effective and can be trained. We aren't going to be hiring from Stanford or MIT,” an IT executive told ET.<br /><br /> The Infosys deal took a few months to hammer out, Indiana governor Eric Holcomb said in a statement. Holcomb is also planning a trip to India to sell his state to other IT companies, he said. <br /><br /> The Indiana Economic Development Corporation plans to offer up to $15,250 in conditional tax credits for each job the company creates and up to $500,000 in training grants.<br /><br /> "Midwest states are generally more aggressive in holding out incentives because they haven't seen the kind of job creation that states like New York and California have,” Ganesh Natarajan, chairman of skill development platform 5F World, told ET.<br /><br /> Meanwhile, chairman of industry body <keyword id="6372077" type="CITY" weightage="20" keywordseo="Nasscom">Nasscom</keyword> Raman Roy said the incentives had nothing to do with the H-1B visas and were related to the jobs that the IT industry creates.<br /><br /> However, this is not a new system as in the past, <keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> also received such incentives and expanded in Tampa, Florida. <br /><br /> But incentives will become increasingly important. Unlike India, where IT companies control where they deploy employees, in the US, they will have to build centres across the country as they look at attracting Americans to work with them.<br /><br />

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No mass layoffs in the IT sector, NASSCOM says either re-skill or perish

Anushree Singh

IT industry to grow at 8.6% in current fiscal: NASSCOMM

BI India Bureau

Automation era: The necessary skills for the new IT jobs of the future

Anushree Singh

This US state has offered Infosys one of the largest incentive packages ever. Here are the details

BI India Bureau

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