During its third IT Conference on Next Evolution of Enterprise Intelligence, Artificial Intelligence and Machine Learning, Indian Staffing Federation (ISF) released a report on Indian IT staffing industry landscape.
The three key insights from the report reveal:
- Indian IT flexi staffing industry is worth USD 3.04 bn in FY2017
- IT flexi staffing penetration with respect to total workforce in India is 5.6%
- IT Flexi staffing industry is expected to grow 14 – 16% pa till FY2021
One of the reasons behind this exceptional growth, according to Rituparna Chakraborty, President, Indian Staffing Federation, is the pace by which IT sector is evolving. She shares, “The pace at which IT sector is evolving, bench model of the industry where full-time employees are kept on standby in expectation of new projects, is vanishing. Companies have fundamentally started opting for flexi staff to have flexibility and competitive edge over others.”
Commenting on the study, she further adds, “The results highlight the scale and potential of IT staffing to register a sustained growth of 14-16% YOY till 2021 across top states and sectors of the country. E-commerce and Startups alone are expected to witness 17.3% growth of IT flexi staff.”
Flexing staffing which was once prevalent in the unorganized sector is now making its way into the organized industry due to immense growth in IT, ITeS, e-commerce, BFSI, logistics, and manufacturing. Earlier, according to a report by World Employment Confederation, staffing companies globally have created over 43 million jobs. It also states that India is estimated to employ over 2.9 million flexi-staffers by 2018.