The engineering field is currently experiencing a surge in demand, as advancements in technology and increasing digitisation require a skilled workforce to design and develop innovative solutions. However, the supply of qualified engineers has not kept pace with this growing demand, creating a highly competitive environment for companies seeking to hire top talent.
For organisations willing to take a strategic approach to talent acquisition and development, this presents a unique opportunity to establish a competitive advantage by assembling a team of the most talented and ambitious engineers in the industry. These engineers will play a vital role in driving innovation and propelling the company to the forefront of their field.
But it's not just about finding the best engineers, it's also about keeping them. Companies that can create a culture of growth, learning and career development will be able to retain their top engineers for the long term. This will lead to a highly engaged and motivated workforce that can adapt to the ever-changing technological landscape and continue to drive the company's success.
Evolution of engineering jobs and hiring
The evolution of the engineering hiring landscape in India has been influenced by the positive correlation between technology jobs and economic growth. As the global technology sector has undergone fluctuations, the hiring landscape in India has remained robust. However, the recruitment paradigm for technology engineers has undergone a significant shift in recent years, particularly with the emergence of start-ups. The younger generation, who are heavily reliant on the internet, have adopted new methods and strategies for job applications. As a result, the usage of technology for targeted hiring for specific roles has increased significantly. This has led to the development of more efficient and intelligent talent acquisition processes, such as the use of technology for candidate evaluations.
Looking ahead to 2023, we expect to see continued evolution in the technology stack, with cloud technologies, data engineering, and AI remaining in high demand. Companies will also focus on improving their cloud return on investment due to rising costs. The majority of this demand will be met by engineering graduates, while lateral hiring will be limited to niche skills or technologies that have reached a more mature stage with a deeper talent pool.
Fresher hiring and continuous upskilling
The recent surge in fresher hiring has resulted in a demographic shift in the tech industry workforce, with Generation Z and Millennials constituting 18-20% and 68-70% of the total employee base in FY22. Companies have turned to Tier 2 and 3 engineering colleges to recruit ambitious and committed students to drive steady growth.
However, the expectation of commitment is now mutual, with employees demanding opportunities for continuous learning to stay engaged and maintain their skills. Successful companies will allocate a significant proportion of resources to this endeavor, both in self-paced and instructor-led learning, to build high-capability talent pools in a supply-constrained environment.
How do young engineers respond to hybrid working?
According to a recent industry report, an increasing number of GenZ (66%) and millennials (67%) in India prefer a hybrid work arrangement and view flexible and remote working as an opportunity to improve work/life balance.
Several successful companies are growing fast and challenging the notion that remote or hybrid work impedes innovation. A simple internet search will reveal the names of marquee firms that were all built by either fully remote or mostly remote teams. One of the world’s largest free, open-source operating systems was built by people who never worked together. That said, one must acknowledge that working remotely imposes a responsibility on companies to bridge the physical distance.
Closing the gaps
The upcoming generation of engineers are the largest and most well-educated workforce to be taking the reins soon. No employer wants to inherit workers who are drastically behind in the hard and soft skills needed to succeed. Thus, encouraging young talent and leaders to work in a hybrid format will bridge gaps between efficiently delivering to key performance areas as well as grooming the talent with required business skills.
Progressive companies continuously strive to “bring the office to the workforce” if the workforce stays remote or hybrid. There are certain types of work that become more effective when done in person. Think of the design phase of an engineering project, or user-persona-discovery sessions, for example - when done in person, these activities drive greater collaboration and teams deliver better outcomes faster. On the other hand, companies that are primarily remote will empower their teams with autonomy to decide the cadence of getting together (for work and for social events) and make provisions for such events to be both productive and bonding.