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IT Layoffs: The Hire and Fire Scenario

Economists have stated time and again that in India, growth is owed not to the creation of jobs, but is instead driven by capital deepening – an analysis that seems to be backed by the numerous articles on mass IT layoffs. But by digging a little under the surface, it is clear there is a solution available within, one that requires a tweak in the game-plan of potential hires.

Fire and Hire

The National Skill Development Corporation (NSDC) has predicted a clear shift, from the need of minimally skilled hires to the ones that have kept up with the changes in technology and software. This shift has assured that the looming IT layoffs are now synonymous with ‘fire and hire’ – the lack of skill or proficiency being rapidly replaced with better resources for maximum results. As larger companies scale up their operations and update technologies, it is expected from employees to learn and upgrade their skillset. Let’s find out how you can turn the tide in your favor.

What is the Reason for the Shift?

With a clear shift in the required competencies, the issue has now become an inevitable problem for both companies and employees. It is essential to start a dialogue at the root of the issue – the need for providing training to employees and calibrating the resources to perform at an advanced level while they pursue their careers.

With evolving business processes, a focus on specialization, and profiles becoming obsolete due to automation, graduates fresh off the boat need to keep training themselves once they enter the industry’s workforce.

How to Move to the Top of the Pyramid?

While some companies have gone head first into the cycle of firing and hiring in order to maximize their efficiency, there are others who have chosen to retain their workforce, hire young blood, and tackle the issue through on-the-job training and delegation.

The best place to start is to check if you fit the criteria that HR departments are on the hunt for – the ability to adapt to new technologies and a drive to re-skill within newer frameworks such as data science technologies and programming languages.

The fire and hire movement makes it important for an IT worker to try and retain his post by focusing on gaining cross-functional expertise, upskilling & adapting newer technologies, to cut through the intense competition.

While your company may offer in-house training programs, there is an emerging need or rather an opportunity to go beyond the basics. Employees will need to look for certificate courses and training institutes for a specific skill set. It is recommended that you utilize your IT skills in new domains. There are many upcoming fields in IT that are both lucrative and promising. For example, Big Data Analytics and Business Analytics are both sought after courses.

Freshers and Transition Seekers

For all those who are beginning a career in IT, there is much to be hopeful. Every chart and table points to the fact that young blood is in high demand, but expertise and aptitude are still most important. On the other hand, transitions may seem frightening but it can be translated into an opportunity to grow. If you acquire the correct skills, it will help you to move towards senior positions and specialized job roles. Constant learning is now an important part of the game.

The situation may seem difficult, but the opportunities for jobs within the IT sector are intact, it is only the need of the hour that has altered. New fields have emerged, ranging from robotics, big data analytics, and artificial intelligence to cyber security, internet of things, business analytics and cloud computing. Choose a way to best utilize your skills and aptitude, take up internships and training courses, and once your skills are up-to-date then you’ll see that the job market hasn’t changed all that much.

Also Read: 

How IT Professionals Can Prepare Themselves to Deal with Layoffs

How to Get Your Way Around the IT Layoffs: “Scale to Skill”

How Can You Fix Your Tech Skills Gap?

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