Contrary to the growing worries of an impending retrenchment wave that could hit the Indian software industry due to global fallouts, Nasscom, the premier association of computer software professionals in India said that the industry continues to hire about 1.5 lakh people, calculated on a net basis, every year.
The Nassocm statement indicates that the IT software industry stands as perhaps one of the largest employer-sectors in the economy today.
According to the media release by association, there has been no mass lay-offs by any IT companies in the country so far.
Skilling and re-skilling has been given maximum importance, and still consumes a lion’s share of the investments being poured into the sector.
There was a fear raised amongst industry analysts earlier, that due to the triple challenges of automation, technology shifts and protectionism in the USA and the UK, the Indian computer software industry could well be faced with the worst crisis in a decade, and could lead to massive downsizing of jobs.
With the noose closing-in on the leading players in the IT software marketplace, ‘workforce realignment linked performance appraisal processes’ will get additional emphasis in the companies with larger employee base, the fall-out forecast had observed earlier.
While top brands in the field, including Infosys, Wipro, Cognizant and Tech Mahindra have removed non-performers from their roles as they began to tighten the belt in an uncertain market, Nasscom revealed that, “ no significant changes have been reported or observed”, within the area of concern.
“Skilling and workforce realignment are essential to remain competitive in international markets. It needs to be appreciated that such workforce realignment is a normal part of the internal process of companies based on their own operational imperatives; companies evaluate their priorities and business imperatives and continuously align talent to serve their needs and enhance competitiveness,” Nasscom added.