As per Report of human resource translation firm, the incomplete preparation and adaption of new technologies will result will result into annual assortment of 2 Lakh jobs for upcoming three years. There are likely a chance of deducting salary and cutting of jobs in Indian IT sector.
The report further states that this year’s, almost 56000 IT professionals will be sorted as they are not ready to adapt with latest standard of technology. Their incompetent skills and knowledge led to the downfall of industry. Their incompleteness preparation creates a reluctant and unenthusiastic atmosphere leading to downfall. By doing this, they’ll be able to maintain talent with fresh talented personnel’s.
In the finding of McKinsey & Company’s, it has been said that more than half of the employees in IT services will become irrelevant in next 3 to 4 years. It’s all because of the lack to change in domain of technologies. The major challenge is that company had to recruit 50 to 60 percent of employees as fresh updated talent acquisition. There are almost 40 lakh people employed in IT industry and retraining them is hefty task.
Countries like Singapore, Australia, New Zealand and United States are strict of work visa and this had impacted downfall in software exporter. The advent of new tech innovation, robotic process automation and cloud computing had allowed numerous companies to perform with less labor. For this reason, most of the software companies had to rethink their strategy.
The setback arises when available talents were not able to change with passage of time. Due to this, majority of employees had become useless today. Their lack of adaptability directly affects the efficiency of organization. Further adding, IT industry undergoes changes in every 3 to 5 years and its going to impact more as US has also changes its policy for foreign IT professional.
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