Hiring in the IT Industry- Top trends for 2023
The pandemic changed the way we look at things. It disrupted our lifestyle and impacted every aspect of it. It also changed hiring methodologies and gave rise to tech-savvy HR professionals that incorporate technology and artificial intelligence in hunting for the right candidate. The change impacted the market requirement.
Recruiting and retaining employees has become a challenge, especially when the pace of hiring is constantly evolving. We are aware of how slowing economies often result in reductions in force, and we are seeing some of those contemplated outcomes become realities.
2022 saw endless layoffs, with tech companies laying off 136,000 people, with 42,000 people losing their jobs in November alone. The impact of US recessionary fears has impacted the tech employment landscape globally and India was not immune to this churn. As most of us are aware, layoffs are still going on, as a result of which, the unemployment rate in India has touched a 16-month high at 8.30 per cent in December 2022, according to CMIE. Despite the global trend of layoffs, tech firms in India expect to pick up their hiring in 2023, owing to India’s stable geographical, political and economic foundation.
2022 saw endless layoffs, with tech companies laying off 136,000 people, with 42,000 people losing their jobs in November alone. The impact of US recessionary fears has impacted the tech employment landscape globally and India was not immune to this churn. As most of us are aware, layoffs are still going on, as a result of which, the unemployment rate in India has touched a 16-month high at 8.30 per cent in December 2022, according to CMIE. Despite the global trend of layoffs, tech firms in India expect to pick up their hiring in 2023, owing to India’s stable geographical, political and economic foundation.
There are two big challenges to overcome in the IT recruitment industry at present. They are-
- 1. Filling skill gaps in the tech industries due to the ongoing skill shortage
- 2. Sourcing technically skilled candidates as most organizations do not have an upskilling program to improve the technical proficiency of their current teams.
Some of the hiring trends for 2023
- Hiring candidates with specialized technical skills
The software industry is highly competitive, so the need for innovative, futuristic products built with reliable technical skills is imperative. Most IT enterprise managers hire more for technical skills than soft skills. Recruiters are eyeing a more specific pool of candidates for IT hiring, who are well-versed in technical skills than other human skills. - Hire diverse skillsets
Hiring new staff from outside technology fields is on the rise, especially if the prospective hires have experience turning a profit. Seeking candidates with diverse skill sets can prove to be an advantage as employees having a wide variety of skills give the organization ample opportunity to cross-train them with technical skills to meet their talent needs. - Aggressive screening with specialized skill tests
Tech recruiters have begun focussing on screening candidates more through technical assessments than the traditional hiring process. Gauging a candidate’s ability for the role through technical assessment alone may lack objectivity but it gives a picture of their technical proficiency, which, at present, is the need of the hour - Expanding your network and job selection
Innovative thinking around hiring new staff from outside technology is on the rise. In-person networking events need to become more prominent. Recruiters ensure that only skills and value-matched candidates are short-listed followed by the selection by interviewing candidates for both soft and tech skills.