New Delhi: As the coronavirus pandemic set foot in 2020, many sectors suffered losses, leading to massive layoffs and hiring freezes. However, over 1.5 years later, some sectors have started showing signs of recovery, according to a NEWS18 report. Even as we are staring at the possibility of a third wave, experts suggest that India Inc is gradually coming out from the cautious mode. An aggressive hiring of the young talent and giving increments to their employees – thanks to the technology transformation necessitated by this virus – has been reported in the last few months, according to an Indeep Report, which effectively analysed the impact of the ongoing pandemic on India’s job market. .Also Read - Mega Hiring! TCS, Infosys, Wipro, IT Companies Likely To Recruit Over 1 Lakh Freshers This Year
Do not believe us? Try a simple job search on LinkedIn and it will give you an idea about the recovery reported in the various sectors in terms of the job vacancies. The Indeep report concluded that the demand for IT professionals has risen as much as 400 per cent. At the outset of the pandemic in 2020, corporations, sectors and institutions embraced a wait and watch style of functioning which was necessitated by the immense uncertainty induced by this pandemic. In June 2020, just a few months ahead of a peak during the first wave of infection, hiring nosedived by 50 per cent. Also Read - Work From Home to End Soon: List of Companies That Are Asking Employees to Come Back to Office
Not only this, but record-high tech job vacancies, requirements for niche and super niche skills centric jobs are also witnessing a sharp spike. The demand for skilled technical job roles like Application Developer, Lead Consultant, Salesforce Developer and Site Reliability Engineer grew between 150-300 per cent, becoming the top sought after roles as of January 2020 to February 2021. Also Read - 7th Pay Commission: Madhya Pradesh Announces Big Diwali Bonanza, Increases Dearness Allowance by 8% For State Employees
Salary hike in the range of 70-120 per cent
And it’s not just the hiring part that’s seeing growth, but the organisations are offering higher salary packages in comparison to the previous year too. So, the companies are giving more and the candidates are expecting more now. The report also threw light on the salary hike expectations in case full-stack engineers, the companies are offering hikes in the range of 70-120 per cent. Which is unusual and is far more than what was being offered last year. Till last, the conversation regarding the hike was revolving around 20-30 per cent.
Golden time to switch jobs
IT services major Tata Consultancy Services (TCS) recently announced that it has started its biggest recruitment drive for women professionals who are looking for job opportunities after a career gap. The tech behemoth has said, “Talent and Potential will always remain, and Rebegin is an opportunity for talented experienced women professionals to inspire, reinvent and challenge themselves to make a mark.”
TCS, Infosys, Wipro and other big tech giants are aggressively hiring candidates across India. This means that the total wage bill for the entire IT sector is going to go up by $1.6-1.7 billion in FY 2022. It is a golden time for employees with the right skills who are looking for a new job and want to get a good salary. Also, for cities where the IT ecosystem is based, such as, Bangalore, Hyderabad, Chennai, it means a booming real estate market and good discretionary consumption overall.