ET has reported that staffing firms anticipate a tangible hiring surge of 7-8 % in the latter half of this calendar year. As per the data from Teamlease and other recruitment firms February saw a high demand for technology talent, building optimism for a recovery in IT hiring. This projection suggests a positive trend in employment within IT sector as the demand for technology talent continues to grow. The recent data in hiring covers IT services, software products and tech startups.
In February the IT talent hiring mandate had reached 124,000 marking a nearly 50% increase from January and a 33% increase from December according to data from staffing firms. The demand for IT talent is anticipated to increase further to 150,000 in March.
This spike in demand for IT professionals indicates a significant rise in the need for IT Specialist in the Job Market. These hiring mandate reflect forecast of future demand, not all may result in actual hires. This strategic approach may allow firms to build a talent pipeline that can be readily filled according to need and meet the evolving demand in the IT sector.
Meanwhile according to the reports from ET, Fresher hiring for the $250-billion IT sector in the current fiscal year ending March 31, 2024 with an estimated hire of 70,000 – 80,000 fresh engineers is expected to be a decline in hire by 60 – 65 % year on year. This marks the lowest hiring level for freshers in over two decades. However fresher hiring is anticipated to rise in the second half of this calendar year.