Though the IT industry is going through a tough time, the recession is making the industry reinvent itself for growth and stability in times to come.
The recent trends in the information Technology (IT) sector have brought in newer perspectives. Maintaining an optimum level of cross trained low cost workforce negligible bench concept which means just in time hiring to attract competent talent, out sourcing of most administrative duties and allotment of only key portions of projects to the internal workforce etc. are some of the latest trends.
Now IT firms are focusing more on bringing in cost saving technologies and identifying opportunities to reduce cost. Also, IT governance today, plays a major role in delivering business value. IT priorities of customers are seeing a shift from discretionary projects to those which are more strategic in nature such as process improvements and innovation. The industry focus is on aligning investments to customers’ market by being proactively agile to new technologies.
The changing trends in the IT sector are bringing in changes on the career front as well. The industry is looking out for professionals who have multiple skills, domain knowledge and who are capable of multitasking. According to experts, software design and development, systems administration, software implementation analysis, testing and quality assurance, database administration etc. are some of the recession proof areas. Emerging technologies like telecom, SAP, embedded skills, CRM skills etc will be in high demand. Roles like solution architect business analysis, technology specialist etc., are going to rule the IT mantle. There are plenty of opportunities coming up in the remote infrastructure management space for professionals.
According to various industry bodies, the industry will be in need of about 3.75 lakh professionals in next few years..
Re –skill to succeed:
Developing multiple skills and technology knowledge so as to extend contribution to a wide variety of domains is a must for IT professionals today. Professionals who are low cost with multiple are in demand. These professionals who are flexible to adapt to any role are the ones who would survive the worst of the recession cycle. Continuously deepening one’s competencies is the first requirement for any professional to be successful over a long time. The industry is looking for people with personality, aptitude, communication and technical skills with a thorough basic knowledge and practical exposure to recent trends. Industries are still on the lookout for good talent because they can hire good talent at lower costs. Experience and skills will always be sought after:
Today, one should be looking at adding value to one’s profile. Being smart about the current economic situation analyzing trends and upgrading skills, etc will help a professional sail through rough waters.
Virtualization, a promising Career:
Virtualization is a lucrative career opportunity as almost all virtualization firms have their R&D and offshore development centers in APAC region, especially in India. This career will benefit professionals who are in networks systems and application infrastructure or storage domain. People with very strong background in computer science, data structure, programming and algorithms are much sought after.
For any IT company the ability to have a strong consulting group and client facing team is important. The clients and their environment are changing. Since the IT companies have to be very close to clients, the decision-making is quick and it helps them stay connected with clients.
Staying connected with clients has become more relevant than before in the current environment where client budgets are expected to be lower and project pipelines are under pressure. Cognizant, which grew by 32% last year, has guided to grow revenues by 10% this year due to the weakening economy.
Traditionally, Cognizant has outperformed the other top IT companies by a good ten percentage points and in 2008, it went past Nasscom’s growth estimate of 16-17%. But its guidance of 10% for 2009 is raising worries among industry observers who are not sure about how low the other IT players would grow in the coming year.
As it is, TCS and Infosys, which have outperformed the industry average over the years are expected to grow below the industry estimate of 16-17% for the financial year 2008, as new orders come down due to the recession in the US.
Those IT and ITeS companies sustain growth with qualified and skilled professionals on their roles as mentioned in the first few paragraphs because the IT cos can cater to multiple requirements of different clients.