IT Employment Deficient
This is the worst time to look for a job in IT firms. This is because the IT companies have created less lakh job compared to the other years. The Toronto IT firm are among the best in the world. This is tragic news to the IT graduates who seeking jobs. Last year the big IT companies employed about 67000 employees which was a 10% increase. The Ambit Capital analyst insists that the hiring will be much slower compared to the revenue growth.
What has led to this sad news is because of the challenges caused by client in terms of shifting to the digital life, especially embracing the cloud computing services. The global economic growth has slowed down and it has been dictated by the business men who are trying to save up by using less expense on technology.I don’t know if this is good news but the economic slowdown is expected to recover from the downfall in the next couple of years.
Another reason that has led to the drop in hiring by the IT companies is also the reduction of the management level, they have done so to ensure good customer relation and the employees to have a more interactive session with the customers. They are also trying to make the existing employees productive. Hence no need of new employees. With that said it only means pyramid of administration will be steeper than it has ever been. Most work in this businesses are now being automated meaning where once one employee was able to manage 10 servers is now able to serve 10 times with no strain. Also a lot has changed within the industry, and the recruiters are adjusting to this. For instance most IT companies are now interested in product companies which was different long before where they concentrated on the IT service firm. “Around 10 % recruitment firm comes from the IT Sector” said Shiv Agwal who is the chief executive of ABC consultants. This only as a business man one must also reduce the expense for instance salary expense.
This also means in case they are hiring they will need a candidate with specialized skills in a specific niche. Well, it only means you will need to be 100% qualified and has had experience in the field. Which is not the best news for the IT graduates who are seeking jobs. For instance the major IT companies Infosys will only hire 30000 students from campuses, it is the lowest number since 2013. Some of the other companies are not commenting on the reduction e.g. Wipro which has a reduction of 0.15%.
This is not the first challenge they have faced, the IT industry has faced challenges that could have been terminal. The first was Y2K when they rewrote the software codes of large computers, this was meant to enable to handle the new millennium, and this allowed to gain market from the western side of the continent.There is a chance that these change is here to stay but we can pray for the best.