The Indian software industry is on a roll. The last quarter results of IT giants – Infosys, TCS, Wipro and Satyam – depicts a revenue growth of more than 40 per cent year-on-year.
India’s strong foothold in the IT and software sector and its growing reputation as one of the leading outsourcing destinations have paved the way for assured returns. With opportunities opening up in the Middle East, Africa, South and Southeast Asia and Eastern Europe, Indian software services companies are all set to witness an exponential growth.
According to a recent IDC report, the IT/ITES sector is predicted to touch the $100 billion mark by 2011, growing at a compound rate of 18 per cent per annum.
Workforce Scenario
A recent report published by Nasscom-McKinsey on IT and BPO sector said that only around 25 per cent of technical graduates and 10-15 per cent of general college graduates are suitable for employment in offshore IT and BPO industries . India needs around 2.3 million IT/BPO workforce by 2010 to retain its current market share. The report has projected a potential shortfall of 0.5 million qualified employees.
“The workforce requirements for us are of two types – those who have functional capabilities and those with managerial capabilities. As far as functional capabilities are concerned we are looking for a fair amount of knowledge on how things functions so that we just need to bring consistency in them. However, soft and leadership skills need to be worked for most freshers,” says Hari T, Head, Human Resources, Satyam Computer Services Ltd.
As Kalpana Jaishankar, President, People Development and HR Operations, Patni says, “In the industry today there is demand for experienced employees and as of now all companies are looking to hire from the same set of professionals. Hence, these people can demand a premium in the job market and people with experience of three to five years expect a pay hike in the range of 30-40 per cent.”
She adds that further in the case of campus recruitments, earlier it was only Indian companies that looked to acquire talent from this source but now even MNCs are recruiting from campuses. Hence, competition to hire from campuses has also increased.
“Probably the industry needs to look at the model of training and developing people to match the requirements of the organisation in addition to collaborations with institutes to build these resources,” she avers.
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Reference India Times
