Companies look for niche skills amid rising attrition

Employment consultancies point to an increased demand for niche skills as IT companies’ battle with rising attrition don’t seem to be ending.

Published: 02nd August 2022 08:30 AM  |   Last Updated: 02nd August 2022 08:30 AM   |  A+A-

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Express News Service

NEW DELHI: Employment consultancies point to an increased demand for niche skills as IT companies’ battle with rising attrition don’t seem to be ending. Data from Quess Corp reveals the top digital skills with highest intent to hire across sectors and geographies were data analytics, java technologies, cloud infra technologies, full-stack technologies and UI & UX for the time period of April-June 2022.

Data shows the top 5 industries reflecting voluminous demand curves include products (22%), automotive & engineering (11%), BFSI (11%), telecom (11%), and consulting (9%). “While there are seeming headwinds in tech hiring market, certain skills continue to be high in demand such as full-stack and data analytics.

As firms continue in their digital and cloud transformation journeys, we are seeing a hiring uptick in the same,” said Vijay Sivaram, CEO, Quess IT Staffing. TeamLease Digital in its Digital Employment Outlook Report for H1-2023, released on Monday, indicates the IT BPM workforce is on the trajectory to grow by 7% in FY2023, with the overall headcount rising from 5.1 million to 5.45 million (close to 3 lakh jobs being created).

It notes that the demand for digital skills will grow by 8.4% by the end of this fiscal.  MarTech and IoT are two new additions to the digital skillset this year, according to the report, with demand for MarTech expected to increase by 5% to 7% and that of IoT by 4% to 6% for FY-2023. Sunil C, chief operating officer, TeamLease Digital estimates that India’s technology employment will grow from 5 million to 10 million in the next few years. “India’s IT-BPM attrition continues to be on a higher side and this surge is expected to continue in the next quarters. In FY-2023, contract staffing attrition is likely to increase from 49% to 50% - 55%,” says the Teamlease report.



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