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Updated December 19th, 2023 at 21:46 IST

Only 10% engineering grads to land a job in IT sector this fiscal: Study

Hiring of freshers in Information Technology sector to slump 40% in FY24 .

Business Desk
Representative
Representative | Image:Pixabay
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TeamLease Digital, a tech staffing and solutions provider, unveiled the IT and engineering sectors' hiring projections for fiscal years 2023–24. The findings project an estimated recruitment of 1.55 lakh fresh IT/engineering graduates this fiscal year, a notable decline from the 2.3 lakh hired in the preceding fiscal year. The industry faces a challenging landscape, with approximately 1.5 million engineering graduates actively pursuing roles in IT and tech. 

However, subdued market sentiments and intensified skills evaluation have resulted in a significant mismatch, with only 45 per cent of applicants meeting the desired proficiency standards, indicating a widening skill gap. While leading IT firms limit their hiring of freshers, other sectors like Global Capability Centres (GCCs) and non-tech domains such as BFSI, Communication, Media and Technology, Retail and Consumer Business, Life Sciences and Healthcare, Engineering Research and Development, and Energy and Resources are witnessing an upsurge in entry-level hiring, altering the industry's hiring paradigm. Industry experts stress the urgency of upskilling and training interventions to comprehensively address market requirements. The report emphasises the importance of a blend of soft skills—like communication, problem-solving, teamwork, and emotional intelligence—and hard skills encompassing technical expertise in programming languages, software development methodologies, cloud computing, and data analytics. 

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Additionally, focusing on enhancing digital aptitude and proficiency in utilising digital tools and technologies is crucial for freshmen. Krishna Vij, Business Head at TeamLease Digital, highlighted the dynamic nature of the tech realm and the essential need to synchronise with its pace. He emphasised the collaborative efforts of industry, academia, and government to design relevant programmes and curricula, supported by government initiatives, to bolster skill development and research aligned with industry challenges. This concerted endeavour aims to nurture talent on a substantial scale and cater to the evolving needs of the industry. In the educational sphere, institutions must prioritise integrating industry-specific training programmes into their curriculum to equip freshmen with contemporary technological skills, augmenting their employability. These programmes should extend to faculty members to ensure their familiarity with the latest technological advancements, enabling effective knowledge transmission between educators and students. TeamLease Digital recommends courses aligned with employers' expectations to substantially enhance candidates' employability. These courses encompass Data Science with R Certification, SQL Certification Training, Postgraduate Programmes in Artificial Intelligence, Cybersecurity and Machine Learning, and Digital Marketing, as well as Professional Certificate Programmes in Blockchain and Web Design Certification, among others.

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Published December 19th, 2023 at 21:46 IST

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