{"id":997690,"date":"2023-10-20T12:40:27","date_gmt":"2023-10-20T12:40:27","guid":{"rendered":"https:\/\/piperocket.digital\/taggd-dev\/blogs\/taggd-round-up-2023-it-industry\/"},"modified":"2025-10-26T15:53:54","modified_gmt":"2025-10-26T15:53:54","slug":"taggd-round-up-2023-it-industry","status":"publish","type":"blogs","link":"https:\/\/piperocket.digital\/taggd-dev\/blogs\/taggd-round-up-2023-it-industry\/","title":{"rendered":"Taggd Round-Up 2023: IT Industry"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"introduction\">Introduction<\/h2>\n\n\n\n<p>Contributing close to 7.5 percent to India\u2019s GDP in the fiscal year 2023, the Indian IT industry continued to maintain its status as a global&nbsp; IT hub. India is globally perceived as the largest hub of skilled IT workforce and that edge looks only set to increase.&nbsp;<\/p>\n\n\n\n<p>2023 was a year of testament for IT companies given the strong global and geopolitical headwinds, but with the rapidly increasing digitization of businesses, AI integration, data-driven practices, and a growing dependency on emerging technologies such as blockchain, the IT sector is bound to rebound, offering opportunities for candidates with a new age skill set.<\/p>\n\n\n\n<p>In this blog, we will summarize prominent trends that shaped hiring in 2023, and provide a brief outlook into the future of hiring in 2024.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"industry-trends-and-best-hiring-practices\">Industry Trends and Best Hiring Practices<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Strategic mix of freshers and experienced professionals:<\/strong>\u00a0While around 70% of new recruitments consisted of professionals possessing 1 to 10 years of experience, freshers are welcomed openly through campus hiring.<\/li>\n\n\n\n<li><strong>Recruiters hunting for soft skills:<\/strong>\u00a0Though technical skills are obligatory in the IT industry, 2023 has shown a remarkable inclination towards interpersonal skills. Soft skills such as learning agility, problem-solving, communication, and adaptability are increasingly valued.<br><em>\u201cWhile technical excellence is essential, we also look for candidates who exhibit a results-oriented mindset and a willingness to take risks.\u201d<\/em><em><br><\/em><em>\u2013 Anil Tari, Director IT at Ingram Micro, COEP, IIM C, IIM K<\/em><\/li>\n\n\n\n<li><strong>Hybrid model proven most appropriate:\u00a0<\/strong>More than half of the IT professionals followed a hybrid mode of working, while companies invited one-fourth of their workforce to work from the office. Work from home has shrunk to nearly 20%.<\/li>\n\n\n\n<li><strong>Demand for sophisticated technical skills:<\/strong>\u00a0 In addition to traditional technical skills, recruiters preferred candidates with advanced technical skills such as cloud computing, artificial intelligence, cybersecurity, and data science.<\/li>\n\n\n\n<li><strong>Impressive salary increments:<\/strong>\u00a0Despite a decline, salary increments are well-distributed across the levels; however, companies placed a relatively higher emphasis on rewarding and retaining talent at the frontline and middle management levels.<\/li>\n\n\n\n<li><strong>Count on premier consultancies for talent sourcing:\u00a0<\/strong>In 2023, IT talent was largely acquired through well-founded recruitment agencies. Internal referrals and hiring through job portals also gathered a noticeable share.<\/li>\n\n\n\n<li><strong>Tech hub dominance:\u00a0<\/strong>The predominant presence of a skilled talent pool in major IT hubs such as Bangalore, Pune, Hyderabad, and Chennai, complemented by the economic influence of Gurgaon, underscores access to diverse and competitive expertise.<\/li>\n<\/ul>\n\n\n\n<p><strong>Read Now:&nbsp;<\/strong><a href=\"https:\/\/taggd.in\/case-study\/how-taggd-successfully-ramped-up-it-hiring-for-an-ai-first-digital-engineering-company\/\" target=\"_blank\" rel=\"noopener\"><strong>How Taggd Ramped Up IT Talent Hiring for this Engineering Behemoth Within 3 Months&nbsp;<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"future-outlook\">Future Outlook<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u00a0The hiring of freshers, along with campus recruitment, is likely to experience an upward trend with a projected boost of 4-5%.<\/li>\n\n\n\n<li>Amid calculative decisions, an estimated 8% surge in demand for contractual employees is anticipated to optimize costs.<\/li>\n\n\n\n<li>Experts envision the resurgence of the IT industry within a couple of years, thanks to ongoing digitization efforts across various sectors and the increasing reliance on technology in business operations.<\/li>\n\n\n\n<li>New technologies and trends will continue to evolve, reinforcing the importance of staying updated and acquiring new skills, including blockchain technology, AI, and machine learning.<\/li>\n\n\n\n<li>The hybrid mode of working is here to stay, while working from home is expected to reduce by nearly 10%, giving rise to the number of employees working from the office.<\/li>\n\n\n\n<li>The industry remains committed to maintaining a diverse and qualified talent pool.<\/li>\n\n\n\n<li>Advanced digital and technical skills are anticipated to take precedence over traditional hiring.<\/li>\n<\/ul>\n\n\n\n<p>As the IT industry charts a course toward a tech-driven future, positive hiring sentiments and evolving strategies lay a promising foundation in the coming years. With a commitment to acquiring new-age skills and flexible work models, industry experts express their confidence in the continued boom of the IT industry.<\/p>\n\n\n\n<p>If you are looking to streamline your recruitment processes and unlock enhanced value from your hiring strategies, please reach out to us at&nbsp;contact@taggd.in.<\/p>\n\n\n\n<p>For a detailed discussion of your requirements, kindly consider scheduling a complimentary consultation call with our team of hiring experts by writing to us at&nbsp;contact@taggd.in.<\/p>\n\n\n\n<p>We look forward to a conversation with you!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction Contributing close to 7.5 percent to India\u2019s GDP in the fiscal year 2023, the Indian IT industry continued to maintain its status as a global&nbsp; IT hub. India is globally perceived as the largest hub of skilled IT workforce and that edge looks only set to increase.&nbsp; 2023 was a year of testament for [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":997692,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"content-type":"","footnotes":""},"tags":[],"blog-categories":[237],"class_list":["post-997690","blogs","type-blogs","status-publish","format-standard","has-post-thumbnail","hentry","blog-categories-talent-intelligence"],"_links":{"self":[{"href":"https:\/\/piperocket.digital\/taggd-dev\/wp-json\/wp\/v2\/blogs\/997690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/piperocket.digital\/taggd-dev\/wp-json\/wp\/v2\/blogs"}],"about":[{"href":"https:\/\/piperocket.digital\/taggd-dev\/wp-json\/wp\/v2\/types\/blogs"}],"author":[{"embeddable":true,"href":"https:\/\/piperocket.digital\/taggd-dev\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/piperocket.digital\/taggd-dev\/wp-json\/wp\/v2\/comments?post=997690"}],"version-history":[{"count":2,"href":"https:\/\/piperocket.digital\/taggd-dev\/wp-json\/wp\/v2\/blogs\/997690\/revisions"}],"predecessor-version":[{"id":998651,"href":"https:\/\/piperocket.digital\/taggd-dev\/wp-json\/wp\/v2\/blogs\/997690\/revisions\/998651"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/piperocket.digital\/taggd-dev\/wp-json\/wp\/v2\/media\/997692"}],"wp:attachment":[{"href":"https:\/\/piperocket.digital\/taggd-dev\/wp-json\/wp\/v2\/media?parent=997690"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/piperocket.digital\/taggd-dev\/wp-json\/wp\/v2\/tags?post=997690"},{"taxonomy":"blog-categories","embeddable":true,"href":"https:\/\/piperocket.digital\/taggd-dev\/wp-json\/wp\/v2\/blog-categories?post=997690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}