India’s non-tech sector will employ more than 1 million (11.15 million) tech talent by fiscal year 2027-28, growing at a CAGR of 7.53%, according to a ‘4 June quarter, according to a new report titled ‘Services Employment Outlook Report May-April’.
Despite a slowdown and massive layoffs in the IT sector, technology talent remains in demand, with banking, financial services and insurance (BFSI), consulting, media, retail and consumer businesses, life sciences and healthcare , and in demand in non-tech sectors such as engineering research. His BU head of Specialized Staffing at TeamLease Digital, Munira Loliwala, said development and energy and resources are stepping in to fill the void. Currently, in the non-technical sector, he employs more than 700,000 technical professionals, the report said.
Across sectors, cloud-based services, robotic automation transformation, and artificial intelligence expertise will be in demand, says the report. For example, the Banking, Financial Services and Insurance (BFSI) sector has the highest demand for Data Engineers, Business Analysts, and Solution Architects. In communications and media, employers are looking for UI/UX designers, full-stack developers and game developers for her. Graphic designers, data scientists, and full-stack developers are prevalent in retail and consumer businesses.
Among other sectors, Teamlease found that the life sciences and healthcare sector employs more data scientists, Java developers, and QA engineers. According to the report, engineering research and development (ER&D) firms will seek engineers in embedded software, CAD and automation fields, while in the energy and resources field he will hire more IT infrastructure engineers and software developers.
At the entry level, employers are looking for proficiency with the Microsoft Office Suite, basic knowledge of programming languages (HTML and CSS), and experience with content management systems. Intermediate experience level requires skills and experience with advanced programming languages (Python and Java), data analysis, visualization tools, and cloud computing platforms. The survey also found demand for artificial intelligence, machine learning, and blockchain cybersecurity skill sets at the senior level.
“Non-tech industries are aggressively hiring experienced tech talent to remain competitive in terms of productivity and efficiency. Salaries have increased significantly in recent months, which has played a large role in the migration of tech talent from specialized tech industries to non-tech areas, said Loliwala, and the demand for technical expertise. The unexpected surge has created a large gap between supply and demand, he added, followed by a sharp increase in the number of positions in various non-tech industries.
Teamlease says the majority of jobs are not yet full-time because they are now in non-tech departments. While 54% of employers are engaged in permanent workforce placement, a significant 30% of them are engaged in mixed contracts and a further 16% in contract employment, the report said. ing.
Bangalore, Hyderabad and Gurgaon continue to be the best options in terms of location and salary. His 27% of all popular tech jobs are highest paid in Bengaluru, followed by Hyderabad at 16% and Delhi and Pune at 13%.
In particular, nearly 1.8 million of the 5 million people are women leading tech jobs in Science, Technology, Engineering and Mathematics (STEM). India ranks second in the world with her 4 million female online learners enrolled in her STEM courses such as computer programming, web development, analytics, AI and ML, cybersecurity and user experience.
According to a Naukri.com report published on April 5, the number of vacancies in the BFSI sector will reach a record high of 4,555 in March 2023, compared to 3,138 in March 2022. are related to different IT roles. The banking sector showed 45% year-on-year growth due to the expansion of digital banking services in the rapidly evolving global economy.
The report notes that the surge in job creation by BFSI and other non-tech sectors has contributed significantly to the upward trend in employment across the Indian job market. Job creation in non-tech sectors such as oil, real estate, FMCG and hospitality increased by 36%, 31%, 14% and 7% respectively compared to last year’s baseline. Meanwhile, the IT sector saw a 17% drop in new job creation compared to the same period last year.
In early March, an expert at IT staffing firm Xpheno said the non-tech sector will remain the main driver of strong talent demand in 2023, given the slow recovery curve in the IT sector. are now present in 12 major non-tech sectors, they said, with BFSI, consulting and professional services, education, media and advertising, and healthcare continuing to be the dominant non-tech sectors in terms of their overwork contributions. It added that it is in the top five in the technology sector. this year.
Loliwala also added global shared services and captive creation to drive hiring and develop potential technical talent in FY24.
