According to a skills survey by renowned employment agency Quess, demand for particular top tech talents is continually expanding across non-tech sectors as well as the global captives of multinational firms in India, even as conventional tech hiring in tech services and goods have slowed down. According to the Skills Report FY23, the top skills in demand are ERP, Java Full Stack, Data Analytics, Cloud, and Infra Management.
According to the survey, the most in-demand skill sets in the IT industry are Resource Planning (ERP) (20.84%), Java Full Stack (27.62%), Data Analytics (16.37%), Cloud (16.34%), and Infrastructure Management (25.94%). Notably, these five skill sets accounted for almost 82% of total demand.
As digital and non-tech firms digitize to encourage corporate development and innovation, the need to recruit people with these /skills will expand.
Aside from that, demand for experts skilled in Artificial Intelligence and Machine Learning, Big Data, 5G, Cyber Security, DevOps, RPA, and UI/UX retained a significant percentage of overall demand.
This research is based on data from Quess IT Staffing’s operations, which map demand and supply in the talent ecosystem, and focuses on the quantum of demand for FY23 (Apr ’22 – Mar ’23) vs. FY22 (Apr ’21 – Mar ’23).
“Given the global banking crisis and an unprecedented wave of employee layoffs, hiring has been muted in Q4FY23,” stated Quess IT Staffing CEO Vijay Sivaram. “While hiring requirements continue to come in as most firms remain in a wait-and-see mode,” he continued, “GCCs and Indian enterprises continue to add some numbers, whereas services have seen a slowdown.”
“We do expect to see some positive resurgence in the coming months as organizations plan to backfill critical skills while potentially reducing bench strength.”
According to the survey, although FY22 witnessed a large rise in workforce demand, with many organizations exhibiting “talent hoarding” tendencies, the pace and speed of recruiting for conventional tech product-based companies slowed in FY23. However, technology usage has increased across non-tech sectors. This has resulted in a redistribution of talents, leading to a correction of professional demand and a decline in related price premiums in the IT industry.
According to the survey, sectors with a strong need for tech expertise include energy & utilities (11%), healthcare & life science (11%), automotive & engineering (10%), BFSI (7%), and telecom networks (6%). The automobile industry is rapidly shifting away from conventional internal combustion engines and towards electric vehicles. The engineering sector, on the other hand, is actively investigating new methods to implement and utilize sector 4.0, while the telecom business is actively researching new ways to deploy and leverage 5G networks.
using the globe shifting towards renewable energy, the oil and gas industry is being forced to modernize its business models and decision-making processes using digital technologies.