According to Nasscom Employability Report, 80% of Engineering Graduates are not employable, due to the huge gap between Industry demands and college curriculum. Industry demands skills and these days Graduates do not have the required skill sets.
Nasscom said at a human resource summit that the Indian IT-BPM industry employing about 37 lakh people will have to revise the skills of about 60-70% of its current workforce to hold its position in the global software service industry in the throes of technology-led disruption. Initiatives should be undertaken by technology firms to develop digital capabilities among existing and future workforce. Technology firms should Facilitate re-engineering of its workforce at all levels of the pyramid.
The IT industry is continuously pounded by newer and powerful technologies like IOT, SDN, Robotics, Analytics, Cyber security, Automation and AI. It has to create a niche for itself and once again repeat the cycle of learning, unlearning and relearning. Re-skill is the one mantra that can prepare the information technology industry for the challenging future that lies ahead.
The IT industry will also review its workforce requirement and tend towards being conservative as it looks to reduce employees reserved under the Bench category -- personnel not deployed. The reports of mass scale layoffs have compounded the worry in the industry. There has been a "gentle deceleration" in the growth rate of net hiring as companies move focus from scale to skills.
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