By Shruthi H M | Express News Service | Published: 16th May 2017 01:12 AM
BENGALURU: With the threat of large-scale layoffs in the IT sector looming large, techies, especially mid- to senior-level professionals, are finding themselves in a spot. Given the fast-changing dynamics of the IT sector, these professionals may have to reinvent themselves to surmount the new challenges, say HR managers and industry experts.
For one, the relatively higher salary levels of middle and senior level professionals are forcing companies to reconsider their human capital strategy, said Nagendran S, executive vice-president, MeritTrac Services, a testing and assessment company.
“The competition for limited jobs is between the experienced and expensive professionals, smart youngsters who are looking to build their careers and technology interventions that can take away some of the jobs,” he added.
To cope with the situation, the only way for those working in the sector is to invest in their own skill development and be aligned with the fast pace of change in the industry.
There is a clear shift in focus from hiring to re-skilling, said Yogesh Kumar Bhatt, director, Manipal Global Academy of Information Technology (MGAIT). In a research conducted MGAIT on ‘Future Skills in IT Industry, it was revealed that the requirements are in digital age skills such as DevOps, Data Science, Android, Product Management and Cybersecurity.
Subramanyam S, CEO, Ascent Consulting Services, an HR firm, said that while there is no loss in the employability quotient of the mid-to-senior level professionals, the IT industry would treat this more as an issue of budgeted expenses in the garb of Performance Assessment. The flip side of the situation was that the small and medium industry may treat this as a great opportunity of hiring right talent at lower cost, he opined.
According to Sunil Goel, Managing Director of Global Hunt India, other than layoffs by multinational companies that have arisen out of their business models, the Indian market needs a lot of skilled workforce.
“People who have prior experience will be preferred for training in new skills by firms as they have an understanding of both the legacy and the upgraded system,” Goel added.