Big ideas on Technology

HR leaders adopt new hiring policies for Indian IT Industry

The ubiquitous adoption of artificial intelligence, automation and other advanced data sciences and technologies is influencing a new paradigm in the Indian IT industry

As metaverse and Web3 technologies spread their tentacles in all directions, their impact can be witnessed in the way other industries are operating and conducting their business. The HR industry, for instance, has responded well to the changes brewing in the IT industry by reimagining tech hiring practices for the future.

The dawn of new technological skills

As Industry 4.0 continues to make inroads swiftly, businesses and jobs are inevitably transforming. The adoption of AI, automation and machine learning are already condensing the efforts and roles of humans and wiping out millions of jobs in the process. But as old skills and jobs become obsolete, millions of new jobs are springing across the globe. The skills important for industry 4.0 include data analytics, UI/UX design, AR and VR, cybersecurity, DevOps and Low Code/No Code app development, among others. As new skill sets emerge on the horizon, HR leaders begin their pursuit of skilled talent.

Growing demand for tech talent

The Covid-19 pandemic has further intensified the search for skilled tech talent as it accelerated digitalisation by years. According to the Indian Staffing Federation, the Indian IT and ITes industry intends to hire 8L-10L tech talent by the year 2023. Unfortunately, the supply of tech talent falls short of the demand by manifolds in the current talent market. Grappling with a talent crunch and record-high attrition, the Indian IT industry is in the quest for new talent and new hiring strategies.

Blending Web3 technologies into hiring practices

Besides hiring talent equipped with Web3 technological skills, the HR industry is also leveraging these skills to reform its hiring practices. Enticed by the reductions in time, costs and human efforts, several HR leaders are adopting AI, RPA and analytics in their hiring processes. The results range from enhanced candidate experience to accelerated hiring velocity, all of which resolve the challenges occasioned by Industry 4.0. Additionally, recruiters are also employing highly-informal application processes, doing away with resumes and finding talent on hackathons and GitHub profiles. As these practices become more prevalent, they will disrupt the hiring landscape of the Indian IT industry.