Contractual Employment To Increase In Coming Months

The coronavirus pandemic has become a boon for some and a bane for the others. The ones to profit right now are staffing firms that are getting in requests for a huge number of hires from IT companies that are supporting banking, financial services, and the insurance sector.

The coming months will see a surge in the number of hiring from the IT and ITES enabled services sector, especially of contractual employees. According to the Indian Staffing Federation (ISF), out of 4 million IT-ITeS workforces, about 500,000 were contractual or temporary workers as of 2018. That’s expected to grow at an average annual pace of 13% to 720,000 workers by 2021.

The pre and post lockdown period does not seem to have an adverse effect on the hiring(s) of the contractual workforce as backend operations are going back into the business. This is also because business is resuming in Europe. However, contractual employment will be preferred over permanent job options, due to the new Work-From-Home strategy that has gone into play for a lot of businesses. Even for the backend operations and customer care, companies might want to outsource work to individuals that can guarantee delivery of short term projects without incurring any overhead costs.

This is because the optimization of processes and projects will make them hire for performance-based contracts. “Their contingent staff volume will only increase with time. There will be a gradual shift towards a gig economy across the job market, more for some industries in times to come,” said Kapil Sharma, chief sales officer, Collabera Technologies, a staffing firm who spoke to Mint India.

Online transactions are ruling the roost. Therefore the surge of traffic has to be managed accordingly by customer care. Digital transformation is the new thing and everyone is equipping their businesses to meet that need. IT protocols have had to be reset and therefore there is a need for a quick turnaround with employment which can fit into the transformation quickly.

According to staffing firms, skills that will be in strong demand after June are digital transformation experts, data scientists, and statisticians, IT security and network architects, virtualization, cloud, business intelligence, artificial intelligence/machine learning, big data consultants, and software application developers.

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