HYDERABAD: Techies, aspirants and sector specialists are concerned about the performance of the IT & ITES sectors as layoffs continue across verticals. However, a new survey conducted amongst IT employers in the country suggests ‘favourable’ hiring prospects in the coming quarter: April-June. However, prospects of fresh hiring remain low compared to previous years.
About 20 per cent of employers surveyed in the ManpowerGroup Employment Outlook Survey - India have said that the hiring climate is likely to be favourable. The survey included 4,612 employers across the country in various private sector companies. This is in contrast to high attrition rate that the industry undergoes during this period following performance appraisals across the different verticals.
While 60 per cent of small, mid and large-sized companies have said that there would not be any major changes to their employment strength, about 17 per cent small-sized firms and 13 per cent mid-sized ones have said they were likely to increase their net employment.
“Efficiency of large-sized companies increases when they out-source projects to the smaller ones. The advantage that small-sized companies have is the core specialisation they offer, in getting projects done thereby adding to job creation,” said Sudeep Kumar Sen, Assistant Vice President of recruitment consultancy TeamLease Services. The dawn of Blockchain technology and fin-tech industry are also likely to increase hiring prospects, he added. Interestingly, South and North regions of the country reported a positive hiring intention of 17 per cent.
Outplacements on a rise
Outplacements -- the provision of assistance to redundant employees in finding new employment, either as a benefit provided by the employer directly, or through a specialist service -- are being increasingly considered by tech firms. It may be mentioned here that several tech professionals of Verizon Data Services India (VDSI), recently, alleged use of bouncers for their layoff sparking off a series of protests and filing of a police complaint as well.
“Emotional and psychological assistance coupled with helping employees with career opportunities parcel the gamut of outplacements,” said Joel Paul, Director of Operation, RiseSmart, an outplacement expert. Paul added that Indian companies are increasingly pursuing these options to have an empathetic separation, especially, when it involves layoffs.