According to a recent study by TeamLease Services, the IT industry is expected to create 2.5 lakh new jobs in 2019 with a 10-13 percent projected increase in salaries.
The study reveals that digitization is the driving factor for this positive outlook. The report says while the ‘Digital India’ initiative has been one of the key contributing factors in the growth of IT, telecom and e-commerce sectors; some other reasons for the optimism in the IT industry has been increasing investments in digitization and automation as well as improvement in financial services and digital businesses. With so many companies embarking on digital transformations, business-IT hybrid roles will emerge to help organizations fulfill their evolving digital visions.
Commenting on the growth of the jobs in the sector, Ms. Alka Dhingra, General Manager, TeamLease Services said, “The overall job landscape in the IT sector will undergo radical changes over the next few years, and certain job roles will continue to see increased demand. Some of the areas wherein positive growth in hiring is expected computer, mathematical, architecture, and engineering related fields. By 2020, about 2 million job additions are anticipated worldwide of which 13% increase will be in India itself. In fact, during the recent financial results, many IT firms have committed to increasing their workforce by 2020.”
The potential areas of job creation in IT include Software Developers, Information Security Analysts, Machine Learning, Mobility, Cloud Engineer, DevOps, Network Analyst, and Cyber Security experts. It was also revealed that by 2020, the demand for data analytics in sectors would continue to increase employment opportunities by 25%.
According to skill sets, job increase will be seen in Big Data, Business Intelligence and Analytics (25 percent), Cloud Computing SAAs (23 percent), Mobility roles (18 percent), Machine Learning (15 percent), and Global Content solution (12 percent).
Senior level hiring is likely to witness shrinkage in 2019 as mid-level hiring will continue to rise. “Jobs roles in IT have become multi-dimensional, and the industry needs to take a generation leap in 2019 when it comes to re-skilling. To facilitate advanced skilling, it is also crucial for organizations to hire highly skilled and technologically sound HR representatives as well as development specialists who can hire the right talent in the ever competitive market. Investments in IT re-skilling will increase by around 20% in 2019,” added Ms. Alka Dhingra.
With respect to compensation, salaries in India are projected to rise by 10 percent to 13 percent in 2019, the same as the actual increase in 2018. The highest paid technology areas are going to be big data analytics, machine learning, and AI developers. However, automation, artificial intelligence, and robotics are expected to reshape workplace culture and skill requirements.