The year 2017-18 was a tumultuous year for the Indian economy due to various factors like the effects of demonetisation, the introduction of GST and the decline in private investments. The IT industry was on a down swirl and many jobs were lost and vacancies left unfilled. This was mainly due to the state of the industry and the fact that companies tended to automate and reduce hierarchical steps in operation.

The year ahead promises to be better, with most surveys projecting a rise in demand for trained talent. The IT industry has started hiring again and hope to increase their technical and competence level by taking on board more highly qualified personnel than those whom they laid off. Given the state of the industry at present, this can work in favour of smaller companies who can take advantage of the situation and offer salaries that may not match industry standards. This will work to a certain extent since the hunt for the not so discerning job seeker can be very trying and frustrating.

The prevailing mood is of cautious optimism as far as the anticipated uptrend is concerned. There are some sectors where an increase in demand for talent is expected like IT, finance, human resources and logistics. Retail may also see an upswing.

Increase of GDP will give a boost to the economy and more investment will ensue. It also creates an improvement in the business climate and sentiment, factors that should pave the way for more jobs and hence more recruitment.

The government’s thrust on skill enhancement will lead to enhancement of the skilled workforce and tis is exactly what the industry needs today, since the deficiency in skilled manpower has led to many vacancies remaining unfilled.

Digital technology is making rapid strides and the workforce is also keeping pace by getting themselves trained. Companies realize that they cannot survive without the latest technology are leaving no stone unturned to ensure that their employees get trained with the rapidly changing situation.

These are refreshing facts that brings hope to job seekers, working professionals and recruiters in all segments. Let us hope that these hopes fructify and that we see a real upswing.