Hiring intent refers to a company or industry’s hiring plans for a certain period of time. So when we talk about a 65% hiring intent, it means that 65% of companies in this industry have indicated that they plan to hire people in a particular quarter.
The telecom sector targets employees in the startup sector for the bulk of the 15,000 to 20,000 jobs that need to be filled by the end of this fiscal year. Two-thirds of this must be filled by the end of December 2022 in the middle 5G deployments.
A ready-made pool of potential employees comes from the workforce of startups given that the industry has laid off as many as 23,000 employees since January 2020. And as funding dries up, more and more more startup employees seek more stable and secure jobs with traditional companies and multinationals, for example. staffing experts.
They said the massive layoffs have also led to an increase in voluntary attrition in this sector, with around 40,000 other start-up employees looking for new jobs.
“Fear of job uncertainty and security has led employees to abandon their startup dreams and return to a stable work environment,” said Sachin Alug, managing director of NLB Services, a recruitment.
Balasubramanian A, Vice President and Head of Consumer and Healthcare Affairs at a Staffing Company TeamLease Services, added that telcos lost a lot of employees to startups a year or two ago. “So now some of those start-up employees will be looking to come back. There is a workforce that knows how telcos work and has gained leadership experience during their time in startups. »
Recruitment firms say the hiring momentum in telecommunications will continue over the next two years.
The job profiles sought are at the crossroads of those sought by telcos and the workforce of start-ups in search of change. 5G will boost employment in areas such as augmented reality, virtual reality, internet of things, cybersecurity and other related fields. Skill-based employment opportunities will drive increased job prospects.
“For example, there are currently around 15,000 jobs in the telecommunications sector for cloud computing experts, user experience designers, cybersecurity specialists, data science and analytics experts. data. (These profiles have seen) monthly growth of nearly 15-20% since January 2022,” Alug said. Overall, these profiles will experience growth of around 35 to 40%.
However, all may not be easy for telecom operators when it comes to hiring this workforce.
Sanjay Shetty, director of career search and selection and strategic accounts at Randstad India, said that although telecom operators offer lucrative jobs, they continue to fight technology and IT companies for these. professionals. And the latter have deeper pockets, and therefore more juicy packages to offer.
“There is already a gap between the offers deployed by telcos and tech companies for the same (level) job. On top of that, with the Rupee depreciating, tech companies (whose invoices are usually in USD) have more flexibility in terms of funds for hiring,” he said.
Moreover, with the increasing geopolitical pressures in different parts of the globe, many companies are looking to India to relocate their APAC hubs. This means that while startups may have fallen out of favor with employees, new multinationals may enter the workforce, looking to hire at lightning speed.
One of the ways telcos are responding to the challenges is to bifurcate hiring based on experience levels. So, for a lot of entry-level jobs in the field, telcos are looking to hire entry-level people who would get a lower package. For mid-level and management positions, they will be looking to hire from the pool of starter employees.
Telecom operators can focus on improving skills in niche technologies that will help create rigidity and prepare a future-ready workforce, collectively tackling the challenges of the attrition and hiring, Alug said.
He added that in the post-pandemic era, more people than ever are looking to work towards the larger vision rather than the project and therefore meaningful engagement and building excitement in work and culture is d of key importance. “One of the main things that attracts people to new opportunities is greater autonomy at work,” Alug said.