Jan 16: Infosys Technologies has made the highest number of employee additions in the last two quarters of 2018 than it has done in the last five years. According to a news report, things are similar when it comes to the country’s largest IT Company Tata Consultancy Services (TCS).
In 2017, the Indian IT companies shed around 56,000 of its employees in the name of digitization and automation. The evolving job roles, shrinking international markets, and massive cost-cutting efforts are the cause of such shedding, the report added.
TCS’s net addition of employees from September to December 2018 was 6,827. Meanwhile, Infosys added 7,762 employees. News is that the IT companies will go on with their massive hiring in 2019.
World Economic Forum has reported a job loss of 75 million by 2022 due to the new age technologies like artificial intelligence (AI) and machine learning. The good news is that the growth of new technologies will create 133 million new jobs in by 2022.
It is being predicted that the demand for professionals with evolved tech skills will increase. With the importance of data privacy and information security in the global business sector growing, skilled workers in data compliance and cyber security segment may also be required by companies.
The report added that people tend to choose flexible working hours over 9-to-5 routine work timing. IT startups have already begun practicing this method making it a common industry rule. Leading multinational companies are also following the method of flexible working hours.
When the company is opting for skilled employees, the unskilled and the low-skill labor sectors are expected to go through be having a difficult time. There are reports that most of the unemployable engineers will be replaced by bots.
Another issue is that the skill heavy jobs will suffer from skill gaps. As of October 2018, there are 50,000 science and machine learning job vacancies in India. Skill gaps and related problems can be solved through the education system. The students are provided with generic degrees in Colleges. Meanwhile, the employers are looking for specific skills sets, the report added.