In a bid to retain or add talent to their workforce, Indian technology firms may offer 60-120 percent hike in salaries or offers next year to those with niche skills, said a report.
Full-stack engineers, data engineers, data scientists and backend engineers are likely to be in demand, Economic Times reported, quoting recruitment consultancy firm Xpheno.
“Talent with niche digital skill sets in demand across enterprises saw a sharp rise in valuation and resultant remuneration changes,” Kamal Karanth, co-founder of Xpheno, told the business daily.
According to Karanth, the demand for talent would remain through 2022 until the companies set up their own organic talent pool and upskill workers, which typically take six-eight quarters.
More global capability centres (GCCs) setting up offices in India, start-ups getting more funding and IT services companies winning more deals will drive demand for talent in the tech industry.
Startups are likely to give a 50-120 percent hike in offers and counter offers, depending on the role, Xpheno said. For the same skills, GCCs and IT services companies are likely to offers 5-14 percent hikes.
Some global tech start-ups are setting up shop in India or expand operations in a bid to exploit the talent pool in the country, especially in niche areas like analytics and data science, Mint had reported earlier.
Two San Francisco-based startups, Fluxon Apps Plc and Mitsogo Inc, plan to tap into the talent pool in the country in the next few years. Fluxon Apps Plc, which started operations in India in 2019, is looking to hire about 1,000 people in the next two to three years, Mint said.
Mitsogo, which recently set up a new office in Chennai, is planning to recruit 300 technology professionals in the city in the next few months. The company already has a workforce of 250 employees in Kochi.
Apart from these skills, there will be demand for other niche skills also in the upcoming year.
Manpower hiring spree will be also be driven by increased investment in artificial intelligence, cloud, security, and engineering, Economic Times quoted Vijay Sivaram, CEO of Quess IT Staffing, as saying. There will be demand from new technology trends such as metaverse, cybersecurity mesh, data fabric, cloud-native platforms, hyper-automation and privacy-enhancing computation in the upcoming year, he said.
Demand for digital skills will not be restricted to any one industry or sector, Siva Prasad Nanduri, VP at IT staffing firm TeamLease Digital, told ET, adding that digital spending has increased since the COVID-19 pandemic, leading to a rise in demand for digital skills.
