After a lull, IT hiring mandates are up 10% in July

economictimes.indiatimes.com:

tech hiring, the IT sector has started seeing some green shoots of demand starting July, according to staffing firms. There has been a 10% increase in the overall hiring requirements in July compared to last month, they added, signalling good news for the IT sector and some pick-up in demand in the coming quarter after a long lull. The growth in headcount, however, will only be reflected in the October-December quarter, said experts. The increased demand is led by companies having better visibility of demand. Despite the pick-up, the rate of recovery is still slower than anticipated, and significantly lower than the peak demand witnessed in 2021, they added. "IT services are expected to open up in this quarter to some extent. This is as hiring has been on the back burner for quite some time and utilisation levels have peaked to over 80-85%," said Sunil C, chief executive at TeamLease Digital. The global capability centres (GCC) and engineering research and development (ER&D) demand flow has been steady, said Sunil, adding that there is a 10% increase in the overall hiring requirements in July compared to last month. Saravanan Balasundaram, chief executive of staffing firm Handigital, said that the current uptick in demand has only started in the past two-three weeks and will likely result in offers only in the October-December quarter. «From barely any recruitment drives over almost two quarters, we have seen almost five to six recruitment drives planned by companies for lateral hiring in the past three weeks,» said Balasundaram.

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He added that this indicates some breakthrough in hiring mandates from IT services clients