NIIT says adapted to hiring shifts with focus on BFSI, GCCs
While facing challenges in certain segments, NIIT found success by concentrating efforts on the Banking, Financial Services, and Insurance (BFSI) sector. Despite broader economic uncertainties, the BFSI sector demonstrated resilience, offering a stable ground for NIIT's strategic pivot.
Vijay K Thadani, Vice Chairman and MD of NIIT, spoke to CNBC-TV18 about the company's strategy in response to the challenging hiring environment and evolving market dynamics.
Thadani noted that 2023 was the first year NIIT experienced a negative hiring scenario, with more layoffs than recruitments, affecting part of the business.
Despite this, NIIT's proactive strategy proved successful. "We focused on tier-II GSIs (Global System Integrators) and GCCs (Global Capability Centers) and the sector, which was doing well, which was BFSI. So we encountered success in all these three," he said.
Thadani also discussed the increasing demand for specialised skills, especially in GCCs, which are hiring extensively to keep up with rapid technological changes.
"GCCs are on a big hiring spree because they want specialized people. Technology changes are continuing and, in fact, it is accelerating. So therefore, there is a great need for them to re-equip their workforce," he emphasised.
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NIIT found success in the BFSI sector despite broader economic challenges.
With a market capitalisation of ₹1,536 crore, NIIT, headquartered in Gurgaon, remains a significant entity in the skills and talent development sector.
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