Hiring dropped for freshers in the IT sector in 2023

Hiring dropped for freshers in the IT sector in 2023

admin | 2023-05-15
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The IT industry has recently struggled with a downturn that has led to fewer new hires. According to a recent study, new hires have fallen by 30% over the past two years. That said, job growth in emerging AI, ML, big data, cloud, and cybersecurity technologies is expected to range between 40% and 60% in the coming quarters.

The IT industry faces various challenges such as the development of automation and artificial intelligence, changing customer preferences and many more. These challenges have reduced the need for new talent, leading to a reduction in the number of jobs available for newcomers.

According to a report by talent management firm Spectrum Talent Management, the number of open positions for new hires, particularly in IT, has fallen nearly 20% this year. job seekers have identified “upgrade” as a key to being competitive in the market, preferring professionals who are familiar with technologies such as blockchain, cybersecurity and AI/ML DevOps.

Due to rapid technological development and gradual globalization, the labor market has become very dynamic and at the same time reacts to the turbulence of the world market. Balance the factors that just contributed to the improvement of the enterprise: The emphasis is on improvement One of the chief administrators is the emphasis that is on improvement and the conversion of the actual workforce that is on improvement new.

Additionally, many companies are turning to contract labor, an increase of almost 20% year-on-year, over permanent employment to reduce costs. The decline in employment is not uniform The study also showed that the decline in employment was not uniform across cities and sectors.

Tier 1 cities such as Bangalore and Hyderabad continue to see a steady demand for refreshed people, while Tier 2 and Tier 3 cities are seeing a steeper decline. "The IT industry is going through a period of transition and we are seeing a move towards contract employment and an upgrade in the skills of the current workforce." situation will improve in the coming years as the industry adapts to the changing landscape.

The current slump in the IT job market is visible but it will not last long and will react strongly to global adversity,” said Sidharth Agarwal, Director of Spectrum Talent Management.

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