IT-BPM industry to add 300k jobs by March 2023
With rapid adoption of emerging technologies, the Information Technology and Business Process Management (IT-BPM) industry is expected to generate about 300,000 jobs this fiscal year, according to a report.
The IT-BPM workforce is on the trajectory to grow 7% in FY23, with the overall headcount increasing from 5.1 million to 5.45 million (close to 300,000 jobs being created), the report by TeamLease Digital, the specialised staffing division of TeamLease Services said.
The ‘ Digital Employment Outlook Report for H1-2023’ highlighted that the demand for digital skills will grow 8.4% by the end of this fiscal year.
The report is based on a sur
The report showed that demand for contractual staffing will also increase
vey that interviewed more than 100 employers, and gathered insights from engineering colleges across 500 cities.
Further, the report showed that demand for contractual staffing will also increase mainly fuelled by increased investments in the sector and rapid adoption of technology by enterprises.
Contractual staffing headcount is expected to grow 21%, the report said, adding that currently IT services companies, Global Capability Centres (GCC), and product development companies are the top contract staffing consumers, contributing in an excess of 70% of this trend.
“IT-BPM industry continues to be a sunshine industry in India, being the largest employer in the private sector, employing about 3.9 million people, and contributing to over 8% of the GDP. Our industry here, also amounts to 55% of the global outsourcing market,” TeamLease Digital Chief Operating Officer Sunil C said.