2020 has marked an inflexion point for business operations of several IT majors in the country. Not only has it been the sector that has seen fastest revival from the list of IT companies in Bangalore pandemic-induced disruptions, but has also enabled allied sectors to chalk faster recovery paths. Come 2021, the sector is riding on the wave of increased demand amid prospects of economic stability. This has led to renewed hiring spree this year across leading technology firms.
The placement season this January has seen increased interest from global technology majors that continue to seek the best talent. Among the list of IT companies in Bangalore hiring aggressively are primarily the global majors. The demand for digital-native talent equipped with new age skills such as design thinking, coding, cloud computing and data analytics etc continues to grow aggressively. In response to changes brought on by the COVID-19 pandemic, HR teams have automated processes such as hiring and on-boarding to streamline them and boost efficiency. Contrary to students’ expectations, some industry majors have not only matched last year’s compensation package but have offered a hike, up to 18% for engineering graduates who qualify for additional assessments. It bodes well for incoming talent and is a sign of revival in market confidence.
Most of these IT majors have adopted ‘Work from Home’ policy, or flexible working. Companies have also automated daily employee attendance through apps, rather than using biometric systems, negating the need for human interaction. They’ve also created tech-enabled ecosystems through SaaS offerings and integrated software services. Productivity apps such as word processors, presentation builders and spreadsheets are now available through cloud subscriptions to employees. For companies where the on-site workforce presence is required, regular sanitization and social distancing protocols have been instituted.
Furthermore, several Indian IT firms have committed to allowing a percentage of their workforce to work from home permanently. Following the suit of the Bangalore-based behemoths, several top IT companies in Chennai have also moved to future proof their resources by implementing similar policies that leverage technology and encourage contactless operations. These forward-looking policies would significantly accelerate the pace at which the business operates and expands for IT companies in Bangalore, Chennai and elsewhere.
The phenomenon, however, isn’t confined to technology giants alone. Several IT MSMEs that are homegrown and hadn’t yet adopted technology in HR, and other functions, on that wide a scale are now implementing it at a rapid pace. The new-age SaaS solutions are playing an instrumental role in boosting employee productivity, facilitating the ease of collaboration and significantly minimizing the need for human interactions, thereby bolstering the overall employee experience.
Even more impactful, has been the value creation that the IT services sector has enabled for other businesses. Collaborative workplace software, remote technology solutions are offerings that impact multiple sectors, allowing them to sustain business continuity and streamline efficiencies that mitigate the impact of external factors (like the pandemic) on their business. This increased dependence on technology is likely to ensure that externalities such as COVID-19, no longer slow the pace of business for the Indian IT industry or allied sectors, thereby ensuring its nimbleness.
The ongoing nationwide vaccination drive and India inching towards normalcy augur well for the IT/ITes industry. An uptick in business activity in countries such as the US, Canada, etc., will continue to power the growth of IT companies in Bangalore and elsewhere. The sustained growth of IT companies and subsequent job creation would be a formidable step towards India’s goal of becoming a five trillion-dollar economy by 2024.