Over the last few months, there have been a lot of news about massive changes in organizational structure within the IT sector. And majority of the shake up has predominately been because of the large organizations such as TCS, Infosys, Yahoo and IBM have become extremely cautious about the employees they want to retain and have been extremely bullish about how they can optimize their workforce.
A few myth’s to be busted…
Does that mean that these organizations are not hiring anymore? Not true… They are in the process of improving the quality of their workforce. This includes ensuring that better talent is being hired & talent that has either stagnated or not contributed towards the business profitably, have been asked to leave. In certain cases, the departments have preferred working lean. We are closely working with these multinational organizations and we still do see some substantiate hiring happening.
I have been speaking to several individuals who are at the receiving end & the general mood is “Not Good”. The Pink Slips and the shocking news should not be depressing. Optimism is the ideal mindset to have. As the popular quote goes “The night is darkest before its dawn”, better times are here for the affected & even more so from IT’s younger brother. “E-Commerce”. A wide range of ideas, services & products across sectors and industries all being made available over the internet and at the touch of a screen(button). News is that E-Commerce may soon require over 1,00,000 professionals across departments just in the next 6 months. The preference continues to be with Digital Marketers, UI/UX Developers and also Designers with high levels of creativity who this sector needs desperately.
India’s e-commerce market was worth about $3.8 billion in 2009 and went up to $12.6 billion in 2013. It is growing at an estimated 30 per cent CAGR vis-a-vis a global growth rate of 8-10 per cent. That is tremendous growth prospects for this industry.
As consultants, we have a reason to cheer as well. This only means that there is going to be better hiring across this sector and definitely better qualitative roles and more serious clients.
So is it only necessary that we play musical chairs with the people who lost their seats in the IT sector & provide them with cushions in the E-Commerce sector? “Hell No”. While the motivation to consider newer opportunities is there with these individuals, their suitability must be evaluated. It is important that the future state of the E-Commerce sector does not end up being the present of the IT sector. While the E-Commerce sector continues to have its share of problems of high attrition, ability to attract funds considering the variety of options available with PE investors, the sector still does manage to throw up an exciting proposition. This also presents an excellent opportunity to individuals to re calibrate their strengths, work on their weaknesses and target better opportunities.
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