Anxiety is growing in the IT sector. The often asked question is “am I the next to be laid-off?” NDTV carried a blog recently and I thought it relevant to let know our students and the “prospective students.” Here are some excerpts:-
…..In the last three months, people have been removed from the workforce of companies like Infosys, Cognizant and Wipro. Executive search firm Head Hunters India has said the job cuts in IT sector will be between 1.75 lakh and 2 lakh annually for the next three years due to under-preparedness in adapting to newer technologies.
……So why are people losing their jobs? This, remember, is according to senior executives in top IT majors who asked not to be named:
- Many fresh graduates do not have what it takes. Infosys founder Narayana Murthy and other IT leaders have spoken about how many of the newly qualified lack the required job skills. They need training on the job, and if they still don’t measure up, they are shown the door.
- The IT industry is undergoing huge changes as employees’ skill sets no longer match market realities. IBM had layoffs starting around 2015. The move to cloud computing, automation, etc meant a totally new set of skills were needed. Jobs simply disappeared as the industry moved away from old ways and embraced the new. Left behind – those with skills which were valid and needed till just a couple of years ago. Also, companies felt there was no need to pay the salary of an actual person when new tools and technology were taking care of the job.
- The Trump Effect, partially. America and countries – in Europe and elsewhere – are looking inwards to find employees as outsourcing becomes an even dirtier word and protectionist policies surge. Infosys will be hiring 10,000 Americans over the next year. It would seem logical that this would be at the cost of Indian fresh hiring or existing jobs.
- A cyclical pattern. There are phases where jobs are available in more numbers than others.
- It is appraisal season which is something many don’t survive. A certain percentage of employees do lose their jobs each year.
People we spoke to offered these tips as priorities:
- Reskilling, upskilling of employees to keep themselves valid in a changing market.
- Universities and training institutes to respond by updating their curriculum to make sure their graduates are not entering the job market with outdated skills
- The need for India’s IT industry to move even more towards innovation – and away from body-shopping and back-end work.
I find a lot of sense in the suggested tips. “Re-skilling” is a continual necessity, irrespective of the job or the sector or the institution one works for. RIMSR has an excellent array of tailor-made courses that enhance and re-skill oneself. They are most affordable and developed by “scholar-practitioners” who are well aware of the skills needed for the changing times. Go-ahead and decide upon.