Understanding the changing Job Market
Agility is what defines the Business in the Digital world. Agility in adapting to changing Market conditions, Agility in adapting to changing customer needs, Agility in adapting to the changing demographics forms the core of any Business strategy.
And this agility is being made possible by modern technologies like Data Analytics, Artificial Intelligence, Cloud Computing, DevOps etc.
It is no rocket science to understand that as the organizations adapt these emerging technologies, they will need professionals who are experts in these technologies. This fundamental understanding sets the context to discuss the job market.
A look at Indian IT Industry
As per NASSCOM,
- There are 6 mn IT professionals in Indian IT industry.
- We have 75% of the global Digital Talent. That is the biggest digital talent pool in the world.
- 70% or 4-5 Mn of these IT professionals need to be reskilled.
As per AICTE India Skills 2019 report,
- Indian IT industry could add 2.5 to 3 million new jobs provided people are rightly skilled/re-skilled.
According to PwC’s latest CEO survey,
- 38% of CEOs globally say they’re extremely concerned about the availability of key skills as a threat to business growth
So the mood in the IT industry is to find ways and means to reskill/upskill the workforce.
The emerging technologies can drive business growth if there is rightly skilled workforce or else the same technology could become the reason for the Business closure.