In FY23, 7 out of 10 IT companies to look for candidates, reveals TeamLease Digital report

As per the report, MarTech and Internet of Things (IoT) are two new additions to the digital skill set this yeaR.

In FY23, 7 out of 10 IT companies to look for candidates, reveals TeamLease Digital report
The demand for digital skills will grow by 8.4% by the end of this fiscal.

The Information Technology and Business Process Management (IT BPM) workforce is on the trajectory to grow by 7% in FY2023, with the overall headcount to increase from 5.1 million to 5.45 million, revealed “Digital Employment Outlook Report” for H1-2023, a survey conducted by TeamLease Digital, the staff division of TeamLease Services. It further added that this will create close to 3 lakh jobs. Additionally the demand for digital skills will grow by 8.4% by the end of this fiscal, the survey revealed. The survey was conducted on the IT BPM industry in India.

The report further revealed that from a digital skills point of view, in FY23, at least seven out of 10 IT companies will look for candidates with digital skills from emerging locations, as the demand for digital skills will witness an 8.4% growth. As per the report, MarTech and Internet of Things (IoT) are two new additions to the digital skill set this year, with demand for MarTech expected to increase by 5% to 7% and that of IoT by 4% to 6% for FY23.

According to the report findings the contractual staffing headcount is expected to grow by 21%. It further stated that currently the IT services companies, Global Capability Centers (GCC), and Product Development companies are the top contract staffing consumers, who contribute in an excess of 70% of this trend. In addition, the report showed that the GCC headcount has grown over 10% year-on-year. Further, the survey also highlighted the top 15 digital skills that will be in demand.

Furthermore, from an attrition perspective, the findings in the report stated that India’s IT-BPM attrition continues to be on a higher side and this surge is expected to continue in the next quarters. In FY23, the survey stated, contract staffing attrition is likely to increase from 49% to 50% – 55%. However, on the other hand, gender parity has improved, as per the report which also stated that the Industry leaders have continued contractual gender diversity in Digital Skills in FY22 at 20% and in FY23 it will grow to 25%.

According to the statement, the Digital Employment Outlook Report is qualitative research which surveyed and interviewed more than 100+ employers, and gathered insights from engineering colleges across 500 cities.

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