- Automation is eating a lot of entry-level jobs
- Analysts say many IT roles will soon become redundant
- IT companies are increasing hiring overseas due to visa concerns
"Progressively, I view hiring from campus coming down year on year between 15 per cent and 20 per cent," he says. "Getting a job in IT will become much more difficult with time."
Automation is eating a lot of entry-level jobs. Analysts say that many IT roles will soon become redundant due to the impact of automation on these jobs. "Companies want to eliminate at least 20 per cent of the jobs through automation. Progressively, this will go up to 35 per cent to 40 per cent over the next three years," adds Mr Lakshmikanth.
Many large Indian companies are reskilling their existing employees to help them stay relevant with new technologies. (Read: Indian IT companies need to communicate mutual benefits to US)
The attrition levels are also coming down. Lesser attrition means lesser need to replace/hire people. "In 2016-17, the attrition level has come down by nearly 40 per cent," he says.
Software companies are increasing hiring overseas due to concerns over visa issues. "Overseas recruitment definitely has an impact on hiring in India," according to Mr Lakshmikanth.
About half-a-dozen pieces of legislation have been introduced (and reintroduced) since January 2017 to curb alleged misuse of the H-1B visa regime from both Democrats and Republicans. The US has indicated that the H-1B visa regime would part of the larger immigration reforms package that the new Trump administration is working on. (Also read: Amid H-1B challenges, Indian IT speeds up acquisition of US firms)
Last month, domestic IT services and BPO industry body Nasscom or National Association of Software and Services Companies for the first time in its 25-year history deferred issuing of a growth projection for the next fiscal year (2017-18). (Read: Protectionist mood in US, Indian IT has to prepare, says Nasscom)
Mr Lakshmikanth finally has a word of advice for IT professionals. "Technologies are changing fast. If you are not abreast with the latest, you will become redundant."
"If you don't learn and change, you will be out of a job," says Mr Lakshmikanth of Head Hunters India.