India’s IT sector, known for its significant contributions to the country’s economy and employment, is expected to witness a decline in the recruitment of freshers for the fiscal year 2023-2024 (FY24). Industry experts project a substantial reduction of around 40% in the hiring of entry-level talent by IT companies. This anticipated decrease reflects the evolving dynamics of the industry and the impact of various factors on the recruitment landscape.
Factors Influencing the Hiring Scenario:
Several factors contribute to the projected decline in fresher recruitment in the Indian IT industry for FY24. These include:
- Automation and Technological Advancements: With the growing adoption of automation, artificial intelligence, and machine learning in IT processes, the demand for entry-level roles has diminished. Tasks that were previously handled by freshers are now being automated, leading to a reduced need for large-scale freshers’ recruitment.
- COVID-19 Pandemic Disruptions: The ongoing COVID-19 pandemic has significantly affected businesses worldwide, including the IT sector. Companies faced challenges such as remote working arrangements, project delays, and financial uncertainties, which have prompted a cautious approach to hiring.
- Reskilling and Upskilling Initiatives: IT firms have prioritized reskilling and upskilling their existing workforce to meet the evolving demands of the industry. This focus on enhancing the skills of current employees has reduced the immediate need for freshers and shifted the focus towards leveraging the capabilities of experienced professionals.
- Shift towards Specialized Skills: The industry’s increasing focus on niche technologies and specialized domains has led to a preference for hiring professionals with specific skills and expertise. This shift narrows the opportunities available for entry-level candidates without specialized knowledge.
Implications for Freshers:
The reduced recruitment of freshers poses challenges for recent graduates and entry-level job seekers. The competitive job market, coupled with a decrease in hiring, may require freshers to enhance their skill sets and pursue additional certifications or training to remain competitive. Engaging in internships, freelance work, and industry-relevant projects can also provide valuable experience and improve their employability.
Industry Response:
The IT industry acknowledges the need to address the challenges faced by freshers and is taking proactive steps to support their career growth. Companies are increasingly focusing on internship programs, campus collaborations, and partnerships with educational institutions to bridge the skill gap and provide practical exposure to freshers.
About Author
