74% of India’s Technology Companies to Increase Headcount by 14% in 2021: Talent Trends Report

As the world recovers from the socio-economic impact of the COVID-19 crisis, India is emerging strong in the field of technology with a significant rise in tech investments. Professional recruitment services firm Michael Page India today launched the ‘Talent Trends 2021 Report’, with a focus on the technology and e-commerce sector, signalling a stable recovery in 2021 with recruitment across industries.

Due to breakneck automation and digital transformation across sectors and the ensuing requirement of backend support, the tech industry will continue to lead hiring activities in 2021.

In 2021, companies are looking to take advantage of the availability of Indian techies looking to return to India due to the COVID-19 pandemic. Varsha Barooah, Director of Michael Page India, says, “With the steady recovery of India’s economy and market, most tech companies are anticipated to increase headcount in 2021. We hope tech hiring will bring a degree of stability and serve as a catalyst for overall business recovery.”

According to the study, over 71% hiring managers felt that skills and experience are the most important criteria for hiring in the industry. Companies now are also open to considering talent remotely available. Jobs roles such as application architect backend engineer and chief technology officer will be in most demand. Additionally with the increase in the use of AR and mixed reality (MR) by e-commerce platforms and virtual gaming, we anticipate more professionals needed in this space and skills such as Artificial Intelligence (AI) and Machine Learning (ML) will gain more importance in 2021.

With the overall demand levels for tech roles improving to almost pre-COVID levels, employers will continue to compete for high potential professionals. Entrepreneurs with a stellar professional record who have been forced to close down their ventures during the pandemic, will also be back in the talent pool and available for key positions in growth start-ups.

Companies are also aware of the need to attract and retain talent in a competitive landscape. With mental health and wellbeing emerging as an important consideration when looking for a job in 2021, 47 % of the technology companies that participated in the study, are focussing on ‘remote/flexible work arrangements ‘as a key talent attraction strategy. Subsequently, the availability of growth opportunities features as an important factor of consideration for technology professionals when accepting a job offer in 2021.

In addition to recruitment insights and industry analysis on the technology market, the report also shares new insights across the Indian and Asia Pacific market for other sectors such as healthcare, BFSI and real estate supported by insights on digital readiness, organizational structure, flexible working, leadership, performance management as well as diversity and inclusion.