top of page

Increase in IT recruitment; former bureaucrat becomes venture capitalist

-



After months of low hiring numbers, IT companies are seeing positive signs. Tech hiring has slightly improved in the first quarter, aligning with expectations of increasing demand, according to staffing firms. TeamLease Digital reports a 3-5% month-on-month (MoM) growth in hiring, driven by the need for highly experienced professionals and specialized skills. Another firm, Xpheno, indicates that the net headcount growth in IT services by the end of FY24 was only 50,000, with a forecast of 20-30% higher net additions for FY25.

Anil Ethanur, co-founder of Xpheno, noted that overall movement would remain low due to the decline and record low growth in FY2024. Kapil Joshi, deputy CEO at Quess Corp’s IT Staffing, mentioned that hiring is focused on refilling existing roles rather than creating new ones, resulting in a flat headcount in Q1 and moderate growth in the services industry for FY25.

Experts explain that hiring growth is mainly to fill vacancies in mid-level roles (3-10 years of experience), highlighting the demand for highly experienced professionals and specialized skills, particularly in digital transformation, AI, and advanced technology integration. As the earnings season begins with Tata Consultancy Services (TCS) on Thursday, top software service providers are expected to report a modest quarter-on-quarter (QoQ) growth of 0.8% to 2.4% for the first quarter.


3 views0 comments

Comments


bottom of page