-Jayan CM
Despite the bust in global economy, offshoring business is unfazed as of now. The appreciation of Indian rupee against the dollar is the only concern. According to the recent research by Global Delivery Index (GDI) India is still the most favored offshoring destination. IDC further indicates that Bangalore remains to be the ideal city for IT business.
The economic slowdown has come as a blessing in disguise and it has been estimated that there will no slowing on outsourcing. India already has a large pool of skilled workers and competitive pricing to match the increasing demand. But then why is it that IT companies are going slowly on hiring process. There has been over 80 percent drop in placements. Leave alone big companies even middle to smaller IT companies are going slow on recruitments due to the uncertainty in US. This behavior of IT companies will surely lower the morale of new recruits and the working class. Some companies have even gone to extend of cost cutting as a result of this economic slowdown and have started packing off professionals on non-performance basis.
As job losses mounts at the background of this slowdown, many major companies have laid-off thousands of their workers. One major IT (MNC) in Bangalore has even deferred the offer letter to one of their new recruit and even asked the candidate not to waste his time inquiring the status of his job. How pathetic that can be, when we all know that the current economy slump is temporary. Is this really proving to be a notorious industry?
But analyst on the other hand believes that the economic slowdown will see an increase in demand for tech professionals, if so which professional can have a safe bet at these uncertain times.
Professionals sticking to single skill sets or domain are likely to miss the bus in this highly competitive IT era now. One must accept the fact and familiarize on having multiple skill in his profile. The current trend has opened the Pandora box and has given the IT companies a chance to think about new ways of cost cutting. To name a few; Mergers, Acquisition and business partnering are some of the term making the round for the companies to keep afloat. So while this goes who can be the hottest professional to be on the hot seat?
Analyst believes that professionals with skills in application and process integration and data will be in high demand. In the current economic slowdown, the main roles on cards are for those professionals who can maze around IT architecture because there is going to be a lot of data integration, application integration and process integrations to happen. Anticipating such economic slowdown in future it is unlikely that companies will put its effort to focus on the management of the single project but will be looking at a broader spectrum. The need to think in lines of enterprise project manager will be in great demand who can take up multiple projects and task.
The increase in demand for enterprise project managers, transformation specialist and process experts will be higher when companies will be happier to cut costs for better deals and value for their business. Though the job is increasingly complex, but IT companies may not like to keep the traditional way of one expert for single skills or platform but somebody who can cater on multidomain or multiplatform. It will be interesting to watch how the industry shapes up in the coming years, when there will be a lot enterprise version of these architects. If one sharpens his multiple skills, such recession is a bygone word.
Despite the bust in global economy, offshoring business is unfazed as of now. The appreciation of Indian rupee against the dollar is the only concern. According to the recent research by Global Delivery Index (GDI) India is still the most favored offshoring destination. IDC further indicates that Bangalore remains to be the ideal city for IT business.
The economic slowdown has come as a blessing in disguise and it has been estimated that there will no slowing on outsourcing. India already has a large pool of skilled workers and competitive pricing to match the increasing demand. But then why is it that IT companies are going slowly on hiring process. There has been over 80 percent drop in placements. Leave alone big companies even middle to smaller IT companies are going slow on recruitments due to the uncertainty in US. This behavior of IT companies will surely lower the morale of new recruits and the working class. Some companies have even gone to extend of cost cutting as a result of this economic slowdown and have started packing off professionals on non-performance basis.
As job losses mounts at the background of this slowdown, many major companies have laid-off thousands of their workers. One major IT (MNC) in Bangalore has even deferred the offer letter to one of their new recruit and even asked the candidate not to waste his time inquiring the status of his job. How pathetic that can be, when we all know that the current economy slump is temporary. Is this really proving to be a notorious industry?
But analyst on the other hand believes that the economic slowdown will see an increase in demand for tech professionals, if so which professional can have a safe bet at these uncertain times.
Professionals sticking to single skill sets or domain are likely to miss the bus in this highly competitive IT era now. One must accept the fact and familiarize on having multiple skill in his profile. The current trend has opened the Pandora box and has given the IT companies a chance to think about new ways of cost cutting. To name a few; Mergers, Acquisition and business partnering are some of the term making the round for the companies to keep afloat. So while this goes who can be the hottest professional to be on the hot seat?
Analyst believes that professionals with skills in application and process integration and data will be in high demand. In the current economic slowdown, the main roles on cards are for those professionals who can maze around IT architecture because there is going to be a lot of data integration, application integration and process integrations to happen. Anticipating such economic slowdown in future it is unlikely that companies will put its effort to focus on the management of the single project but will be looking at a broader spectrum. The need to think in lines of enterprise project manager will be in great demand who can take up multiple projects and task.
The increase in demand for enterprise project managers, transformation specialist and process experts will be higher when companies will be happier to cut costs for better deals and value for their business. Though the job is increasingly complex, but IT companies may not like to keep the traditional way of one expert for single skills or platform but somebody who can cater on multidomain or multiplatform. It will be interesting to watch how the industry shapes up in the coming years, when there will be a lot enterprise version of these architects. If one sharpens his multiple skills, such recession is a bygone word.
