IT Hiring in 2023: Good News for IT Professionals

“Seven in 10 IT companies are likely to increase their headcount during January-March 2023, as per the survey shared exclusively with ET.”

Economic Times

2023 is set to be the new and returning IT professional’s year when it comes to hiring! Even as the world grapples with economic downturns, political issues, and tech layoffs, Indian IT professionals are looking at being hired by organizations across India by the end of 2023.

According to the Economic Times, “seven in 10 IT companies are likely to increase their headcount during January to March 2023.” The elements that contribute to India’s efficient and growing IT sector include political stability along with a strong economic base. These factors make India the right choice for IT companies looking to invest in the country, spurring the growing IT hiring process. 

The Pandemic’s Effect on Layoffs 

A Business Standard article reports that over 23,000 people were officially laid off in the start-up sector, with tens of thousands more affected across the IT industry from the time COVID-19 hit in 2020. Lay-offs continued to dampen the tech weather all the way through 2021 and for the majority of 2022, when corporations such as Meta, Twitter, Amazon and Apple announced job cuts.

However, the current IT hiring climate is a welcome respite from close to 3 years of layoffs and job scarcity. The unsettling trend of layoffs and furloughs can be traced back to the pandemic, when resources were limited and the world had to turn remote instantly. This led to a heavy strain on IT company resources, from personnel to costs and equipment needed to run businesses. Many companies folded during COVID-19, with many filing for bankruptcy, while the lucky few that remained had to cut back on resources to maintain momentum. This cutting back on resources included the unfortunate furlough and laying off of IT professionals across the globe and particularly in India. 

The Changing World of IT, Post-pandemic 

Even as lay-offs happened, IT professionals with technical skills were able to find similar jobs at competitor’s organizations. Many IT professionals also engaged in a career pivot, when they identified and surveyed their skills. Several of the jobs that IT professionals took on were outside of their industry, but promised job security in the tumultuous pandemic and remote work period when hiring was at its lowest and firing was through the roof. 

The IT industry’s recruitment and work culture took a 180° turn when the pandemic destabilized the world. Scrambling to make ends meet and to maintain business as close to usual as possible, these IT companies had to deal with never-explored remote work, and work from home models. When the pandemic started to slow down in 2022, many of these organizations started to adopt a hybrid work model, which was a blend of both in-person and work from home or remote work. This upended the lay-off trend, once again offering IT job seekers jobs in their industry since 2020.

IT Hiring in 2023

Even as COVID-19 rears its head in 2023, IT organizations are better equipped this time around. With remote work, hybrid work, cloud-native work environments for remote workers, and collaboration tools, IT companies will certainly have the upper hand in the unlikely event that a medical issue tries to wreak havoc on It’s work environment. Lay-offs may be a thing of the past as IT recruitment is predicted to hit the highest numbers since the pandemic. 

According to The Financial Express, the government has simplified work from home (WFH) rules in the Special Economic Zones (SEZs) which are IT company hubs. The government has updated the SEZ work from home rules to allow IT/ITeS units in SEZs to engage in 100% work from home until December 31, 2023. During and right after the pandemic, the government rule stated that work from home or remote work was allowed for up to 1 year in SEZ areas. This rule was only extended to 50% of the total employees, meaning the rest of the IT professionals had to work on-premises. 

The Future of IT Hiring 

At the moment, Tata Consultancy Services has set a clear mandate to employees to return to offices, with a prescribed 3 day in-person work week. This is expected to change, not only in the return rise of COVID-19, but also as IT professionals demand remote, work from home, or hybrid work models. IT companies will need to supply according to demand, amending strict policies that surround their current HR and recruitment. 2023 is set to be an exciting and welcome break from years of employment woes and troubles.