Hyderabad: IT Sector Sees Double Digit Growth, Job Market Opens Up

Hyderabad: IT Sector Sees Double Digit Growth, Job Market Opens Up - Sakshi Post

Hyderabad's job market expands significantly, despite the pandemic.

Hyderabad: The problems posed by the Covid-19 pandemic appear to have had little influence on the employment market in Hyderabad, ranging from the move to remote working to the unexpected requirement for skill upgradation. On the contrary, not just major IT companies, but also small and medium-sized IT companies are looking to hire more people, both freshers and lateral hires, even if the sector's exports are at an all-time high.

In September 2021, the capital city of India's youngest state experienced an average increase of 20% in hiring across all industries as compared to the same time the previous year. According to a survey conducted by the well-known job site Monster.com, the IT industry continues to dominate the job market, with a 44 per cent year-over-year increase in the same period.

"Telangana delivered double-digit growth in the IT sector in the financial year ending March 2021 and the net employee addition has also grown exponentially in the State. Many companies are in an expansion mode, with the demand for digital technologies growing across enterprises and levels. The 44 per cent growth mentioned by the report is a testament to not just the growth of the companies but also the government’s initiatives for a business-friendly environment," says V Rajanna, senior V-P, TCS, and former president, Hysea.

Tata Consultancy Services, with approximately 62,000 employees in Hyderabad, is the city's largest IT employer. According to research by the state government, the Hyderabad IT sector employs over 6 lakh people directly, with the number likely to exceed 10 lakh in the coming years.

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"The 44 per cent jump could be both fresh and lateral hiring – wherein employees switch companies in the same city. This figure needs to be corroborated with the attrition rate, which is at 25 per cent on average. So, hiring is definitely on the rise and there is a huge demand for digital technology skills. Some reports also suggest that the digitally skilled workforce has grown from 8 per cent last year to 25 per cent this year. IT companies are keen on hiring a skilled workforce across new and emerging technologies," says Bharani K Aroll, president, Hyderabad Software Enterprises Association (Hysea).

MOURI Tech, Qentelli, and Ivanti, among other IT firms, have announced plans to expand and quadruple their personnel in Hyderabad. While MOURI Tech, located in the United States, announced plans to hire 3,000 workers in its Hyderabad office over the next three years, Qentelli is aiming to hire 300 individuals in various technological jobs in its Hyderabad office. Ivanti, meanwhile, has declared that its workforce in Hyderabad would be doubled from the existing 165.

Hiring Trends Across Cities

City    YoY growth (Sept ’20-Sept’21)

Bengaluru (+38%)

Pune (+22%)

Hyderabad (+20%)

Baroda    (-12%)

Jaipur (-24%)

Kolkata (-29%)

Hiring Trends In Hyderabad

Industries      YoY growth (Sept ’20-Sept’21)

Banking/Financial Services, Insurance (22%)

Engineering, cement, construction, iron/steel (6%)

IT-Hardware, Software      (44%)

Manufacturing and production (7%)

Functions      YoY growth (Sept ’20-Sept’21)

Marketing & Communications    (9%)

Finance & Accounts (32%)

HR and Admin      (30%)

Software, Hardware, Telecom    (33%)

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