Industry Overview: India is the world’s largest sourcing destination for theinformation technology (IT) industry, accounting for approximately 67 % of the US$ 124-130 billion market. The industry employs workforce of about 10 million. More importantly, the industry has led the economic transformation of the country and altered the perception of India in the global economy. India’s cost competitiveness in providing IT services, which is approximately 3-4 times cheaper than the US, continues to be the mainstay of its unique selling proposition (USP) in the global sourcing market. Availability of skilled English speaking workforce has been a major reason behind India’s emergence as a global outsourcing hub. During FY08-15 number of graduate’s addition to talent pool in India grew at a CAGR of 9.4 %. India added around 5.8 million
graduates to the talent pool during FY15. Growing talent pool of India has the ability to drive the R&D and innovation business in the IT-BPM space.
Talent Challenges: The rapid pace of change within the technology sector is creating new challenges for HR and Talent Acquisition teams as companies work to better identify, attract and retain top talent. Digital transformation and an increasing focus on cyber security are creating a demand for new skills. As digital continues to disrupt the way non-tech companies do business, tech organizations are seeing their talent poached by non-traditional talent competitors within life sciences and industrials. In an effort to appeal to the sentiments of millennial and cut costs, tech companies are embracing contingent labour.
How HQ can help: This industry is heavily dependent on deep functional expertise that the experts bring with them and that’s exactly where HQ can support. With experts from various industries on the board, the network of skilled talent lies with us and our swift responsive team ensures on time on-boarding of talent.