Hyderabad: While layoffs will continue, companies don’t want to lose manpower as there is significant demand for skills in new technologies.
Companies are investing in training people and realigning them to new technologies to scale up at a rapid pace. Companies such as TCS have reportedly trained lakhs of people in new age technologies like Artificial Intelligence and Internet of Things. Microsoft and Flipkart are already into these areas and are realigning their existing resources through various programmes.
V. Rajanna, chairman of CII Telangana, says that companies train employees based on their needs and learning is no longer done just in the classroom. “This generation has a great opportunity to learn new things like Mobility, AI, Cloud, Automation and set aside legacy things. There are several available open sources for learning and IT companies provide enormous learning opportunities,” he said.
Since new roles are emerging in the industry, companies are likely to give salary hikes on par with previous years. According to industry experts, this trend will continue as every sector has performance-led layoffs and layoffs for other reasons. The number of layoffs, considering the enormous size of the industry, is negligible.
According to a recent report, Mercer’s 2017 India Total Remuneration Survey, salaries are expected to grow by 10 per cent across industries and career levels as organisations are likely to increase headcount this year. It notes that 55 per cent of companies intend to hire in the next one year.