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IT Industry Overview :

Software is a wealth and job creating industry, which has in just a few years, grown to US $ 1 trillion, employing millions of professionals worldwide. The Indian software industry has burgeoned, showing a nearly 50% compounded annual growth rate over the recent years. Being a knowledge-based industry, a high intellectual capital lends competitive advantage to a firm. Intellectual capital comprises human capital and intellectual assets? the later being any created bit of knowledge or expertise. With a global explosion in market-opportunities in the IT sector, the shortage of manpower both in numbers and skills is a prime challenge for HR professionals. The related issues are varied indeed: recruitment of world-class workforce and their Retention, Compensation and Career Planning, Technological Obsolescence and Employee Turnover. This article presents some of the findings of our recent research on the HR challenges posed by the IT sector.

Man Power Challenges:

In a tight job market, many organizations often experience precipitous and simultaneous demands for the same kinds of professionals. In their quest for manpower, they are cajoling talent around the world. In such a seller's market, software companies are striving to understand which organizational job, and reward factors contribute to attracting the best talent? one having the right blend of technical and person-bound skills. This would mean a knowledge of 'the tools of the trade' combined with conceptualization and communication skills, capacity for analytical and logical thinking, leadership and team building, creativity and innovation. The Indian software industry suffers from a shortage of experienced people such as systems analysts and project managers, and attracting them is a key HR challenge.

Spiro's Perception:

The emergence of ICE age (Information, Communication and Technology) has necessitated the need for professionally qualified and talented people in the Information Technology (IT) sector. The astounding sectoral growth in recent years has created a demanded for personnel at various operational levels, from the tech geniuses to the routine maintenance staff.

As the reach of IT is not confined to any particular industry, the sector overlaps with all other sectors including Banking, Finance, Accounting, Insurance, Legal, etc.

We, at Spiro HR Management Consultants, with our rich database that is regularly updated, assist the companies all over the globe to be in sync with the advancing working methods, which is technology oriented, by offering them the candidates that have high level of expertise, experience and a deep understanding of the industry.