Focusing on need on reskilling to keep up with the rapid technologies,
National Association of Software and Services Companies (NASSCOM)
kick-started the 13th edition of HR Summit 2016 at ITC Grand Chola, in Chennai.
With the theme “Navigating Uncertain Waters” the summit aimed
at providing a platform for participants across sectors to come together and
discuss the different facets of how digital technologies are reshaping HR and
the proactive role it will need to play while technology leads to new job
avenues. On the sidelines of the summit, NASSCOM also showcased the findings of
its report titled “Technology Shifts and Workforce Priorities”to
highlight the changes in the ecosystem and how companies and employees need to
evolve.
The Indian IT – BPM industry currently employs 3.7 million
employees, India continues to maintain its leadership in the global technology
arena; with over 2 lakh net additions and 3.5 lakh digitally skilled employees.
To continue this momentum of growth the report suggest that the industry will
require 1.2 – 2 million employees to meet the revenue of USD 100 billion by
2025. Further the report iterates the five forces that are changing the
world at an unprecedented pace and scale: Rise of emerging markets, ageing
of the global population, power of disruptive technologies, integrating
world and return of (geo)-politics
The report also highlights the growth of digital technology over
traditional technology from 5% to 38% over the next decade. Due to changing
technology and skill sets in demand, there will be a gradual shift of the
industry towards automation and around 5 to 10% of existing jobs may be
automated in the next 10 years; significantly changing existing skills across
job functions. While Technology will displace some jobs, it will also
lead to creation of some new jobs – biotech, nanotech, smart technologies to
name a few. The report estimates that 60-70% of the existing workforce will be
need to be re-skilled in technology, domain, social and thinking.
Talking about key trends that are the driving the HR domain,
R Chandrashekhar, President, NASSCOMsaid, “Domain specialization and
greater need for soft skills have become the new patterns that we are
witnessing throughout the sector. In this new world order, technology and
automation have taken the center stage, and companies are deploying them at a
rapid pace to enhance productivity. This trend will bring in a sea change in
talent re-structuring and deployment, creating healthy competition and
re-skilling opportunities.”
The IT – BPM industry is also witnessing a major shift in the working
style as work cultures have become more flexible and updated performance
evaluation techniques and incentives have increased talent stickiness in
companies. Organizations are deploying internal social platforms for enhance
their conversations with their employees, bringing in greater transparency in
functioning. To keep pace with the new skills requirements, companies are
heavily investing on training via e-learning including digital skills and
just-in-time training.
NASSCOM also announced the annual rankings of Top 20 IT-BPM
employers in India, for fiscal year 2015. Tata Consultancy Services is the
largest employer, followed by Cognizant Technology Solutions at second position
and Infosys at the third.
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