Overall hiring remains muted, but demand rises for functional tech skills in Q2FY24: Quess report

economictimes.indiatimes.com:

Quess Corp, IT staffing and business solutions provider has said.
Within development, skill set which saw a surge of 36% in demand for developers proficient in over 100 technical proficiencies. “Mature skills like Java and .NET continued to dominate, with high demand in the banking, consulting, technology, telecom and automotive sectors.

Elevate Your Tech Prowess with High-Value Skill Courses

Skills that experienced decelerated growth are a reflection of the hiring slowdown in IT Services,” the report called ‘Skills Report’ highlighted.

Recent industry discourse has centered on the temporary suspension of fresher hiring in the past few quarters. The strategic decision to delay or avoid hiring freshers is a response to diminished business demand.
Companies are prudently managing discretionary costs, prioritizing short-term cost optimization while incorporating fresher hiring into their long-term project and expansion plans.

“Opportunities abound for those who invest in upskilling, with a notable shift in the way businesses operate, as over 85% of Indian businesses plan to invest in AI within the next two years… We believe that this uncertainty will continue for a quarter or two before the next uptick begins,” said Vijay Sivaram, CEO of Bengaluru-based Quess IT Staffing.

Overall hiring remained muted as organisations have adopted a wait-and-watch approach in light of geopolitical tensions, putting a hold on discretionary spending. This is consistent with the commentary by major IT firms for the second