Hiring in 2024 to pick up in technology sector
Hiring outlook for 2024 remain positive in technology and non-technology sectors despite this year being a low hiring year for the IT services industry.
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Bengaluru, 13 December: Hiring outlook for 2024 remain positive in technology and non-technology sectors despite this year being a low hiring year for the IT services industry.
According to staffing firm, NLB Services, the recovery in hiring is likely from the second quarter onwards with better macroeconomic indicators coming from key geographies.
“Anticipations for 2024 are optimistic on both technological and non-technological fronts in the realm of hiring. Reports indicate that IT hiring is expected to gain momentum in the early months of the calendar year 2024, driven by the increasing adoption of new technologies such as big data, cloud computing, and artificial intelligence,” NLB Services said in a report.
“Overall hiring in the IT sector is expected to surge by 12-15 per cent in calendar year 2024, especially due to the surge in GCCs (global capability centres) and global economy settling down comparatively,” it added.
As per the staffing firm, hiring will start picking up with an average growth of 8-10 per cent in the initial quarter. It will gain further momentum in Q2 and Q4 with demand percentage rising up to 12-14 per cent.
Most in-demand IT skills in 2024 are expected to include, AI&ML experts, DevOps specialists, full stack developers, cybersecurity experts, blockchain developers, cloud architects, UI/UX designers, and others. Like in recent years, upskilling and reskilling will remain a prominent objective for a majority of companies in the coming year, the report noted.
“Specifically, domains such as Electric Vehicles (EVs) constitute highly technical industries, and there is a strong demand for skilled talent in areas such as engineering, manufacturing, and research and development. In addition to traditional engineering and manufacturing roles, the EV sector is also creating new job roles in areas such as battery technology, charging infrastructure, and software development. Overall, it has been estimated to have witnessed a growth of 40-45 per cent of jobs in 2023 as compared to a year ago. In 2024, hiring is further expected to surge by 15-20 per cent in the coming year,” the report added.
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