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    Tech cos are on a hiring surge, and it's boom time for top talent

    Synopsis

    Companies which need to employ people quickly to fulfil customer requirements are finding the situation tough. Worst hit are unfunded startups, which have to compete with the kind of salaries MNCs are offering

    IT
    Engineers and those with maths and statistics background are having a dream run, the report said, with many of them holding multiple offers and playing one employer against the other for counter offers.
    The world of technology is now witnessing one of the biggest booms in demand in recent times for skilled professionals, something which no one foresaw during the gloomiest months of the global pandemic.

    MNC tech centres, IT service companies and tech startups are looking to hire thousands of people, TOI reported, with those with new-age skills being offered big salaries.

    This statistic would give a fair picture: There is a 28-34% rise in median salary for cloud security, data science, Python. cloud platform development, Java/ Net, e-commerce suite and RPA skills between Oct '20-Mar'21 and Apr'21-Sep'21

    This wave could last a few months, said Sangeeta Gupta, chief strategy officer at Nasscom. Jagdish Mitra, chief strategy officer at Tech Mahindra said it could last up to three years.

    Engineers and those with maths and statistics background are having a dream run, the report said, with many of them holding multiple offers and playing one employer against the other for counter offers.

    Companies which need to employ people quickly to fulfil customer requirements are finding the situation tough. Worst hit are unfunded startups, which have to compete with the kind of salaries MNCs are offering, said Atul Batra, former head of the Nasscom Product Council.

    Because of the limited options, companies are having to hire people from small town colleges and polytechnics they've never been to, Gupta said.

    As a solution, Gupta said firms would train freshers quickly enough to deploy them in projects, upskill existing workforce with newer technologies, and get women who left during the lockdown to come back on board.

    The experts said India should pay attention to skilling initiatives and education in order to do away with the demand-supply gap in the longer term.

    “Degree apprenticeship is the future, but apprenticeship is a tripartite agreement between the company, university and student, while in India the agreement is only between the last two," said Manish Sabharwal, vice chairman of talent provider TeamLease Services, highlighting the importance of apprenticeship in close collaboration with the academia.

    Many courses are being offered at subsidised rates by Nasscom in collaboration with the government via the FutureSkills Prime platform. Mindtree has started a program with BITS Pilani, as a part of which BSc and BCA graduates recruited by the company can finish their MTech degrees.
    The Economic Times

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