Bengaluru and Hyderabad retain their crowns as India's Silicon Valleys as both see maximum traction from contractors on the platform, according to a survey by contractual job marketplace Techfynder.
Other alternatives to hiring also exist, but with problems--one of them being staffing agencies that are too expensive.
With the COVID-19 pandemic triggering a need for organisations to make structural changes in their talent strategies that boosted contractual job opportunities, a recent survey has found that Bengaluru and Hyderabad are leading in maximum demand from contractors.
Bengaluru and Hyderabad retain their crowns as India’s Silicon Valleys as both see maximum traction from contractors on the platform, according to a survey by contractual job marketplace Techfynder. The survey revealed that Karnataka leads, with Bengaluru and Davangere drawing in 29 per cent of the demand for contractual jobs followed by Telangana with Hyderabad and Warangal constituting 24 per cent of the total demand.
Maharashtra (Mumbai, Pune, and Nagpur), Tamil Nadu (Chennai and Coimbatore) and Delhi (Delhi and New Delhi) contributed 18 per cent, 15 per cent and 14 per cent of the demand on the platform, respectively, it added. Techfynder surveyed 42,000 contractors from across the country between July to September to find out prevalent trends in the contractual marketplace in the country.
The survey further showed that the notion regarding contractual jobs is changing for good in relatively smaller cities as well. Although tier I cities draw 58 per cent of the total demand, there is also a positive demand for contractual jobs from tier II and III cities comprising 32 per cent and 10 per cent of the total traffic, respectively.
Interestingly, it is also positively impacting the overall confidence in the contracting landscape amidst such adverse economic conditions, it noted. While 65 per cent of the respondents are male, 35 per cent are women, the survey said adding that women are gradually defying the stereotypes to enter the exciting world of contract-based jobs to pursue their dream portfolios in the IT sector as the jobs posted on Techfynder have an average of 6 to 12-month contract duration.
The survey stated that the top-most job title searches done by the hiring managers when looking for tech contractors, over the past couple of months included software developers, software engineers, front end developers, data analysts, web developer, data scientists, java developer, and full stack developers.
The survey also revealed that contractors between the age group of 22-44 years are more active on the platform. This group consists mainly of early adaptors, experienced professionals, and senior talent with multiple functions, it observed.
The new contractual job trend has not only skyrocketed in the IT sector, but across pharmaceuticals, sales and marketing, telecommunication and insurance. In fact, a whopping 70 per cent of contractors are looking for contractual jobs overseas, it added.
”A big game changer – the shift from long-term and time-based to temporary and task-based work – is already underway. While this shift has been an accompaniment of the current global situation, the option of temporary work and the lifestyle that comes with it can be a long-term benefit for both employers and professionals. This new world of work is here already in leading organisations,” Techfynder Founder and CEO Praveen Madire said.
The modern workforce is more inclined to shift the ideal pattern and consider professional contracting giving them the freedom to work at their own time and pace, he opined.
”Going forward, contractual recruitment will be the new normal. Even our survey findings show that professionals from almost all states and of all demographics are open to short-term contracts,” he added.