Harnessing STEM and boosting skills: ways to overcome talent crunch
According to a recent report by Nasscom-Zinnov, India is projected to face a shortage of 14-19 lakh tech professionals by 2026. As compared to the current technology workforce in India, which stands at 47 lakh employees (2021), the country needs 52 lakh technology professionals, it stated. This translates to a 21.1% technology talent gap (as a percentage of supply), which is the lowest globally amongst all the leading economies.
By 2026, as per the report, India is estimated to have 75-78 lakh tech professionals, however the requirement may be of 93-96 lakh techies, reflecting a gap of 14-19 lakh tech workforce.
Means of bridging the Talent Gap
i. Harness STEM (science, technology, engineering, and math) graduate supply:
One of the ways India can position itself as a global technology leader is harnessing the huge STEM graduates supply, which is second highest in the world, next to China.
ii. Disruptive Technologies Demand Disruptive Strategies for Finding Talent
A new generation of technology jobs has emerged to fit the needs of companies implementing disruptive technologies and working to deliver on their promises. These jobs include data scientists, cyber security specialists, industrial network engineers, mobile app developers and network programmers. To meet future demand, CIOs need to invest in boosting the skills of existing employees to fit those positions, as well as bring in the right new talent and skill sets to their workforce.
iii. IT degree low amongst the graduates but Digital skills still remain high in coming generation
There are so many people who are not holding a recognized degree of IT but they are having an excellent knowledge of digitalization and very well understand the need of the future and role of technology in achieving the desired target.
Bank of Abyssinia chooses Newgen for delivering superior Customer Experience
Newgen Software announced that Bank of Abyssinia, one of the fastest growing banks in Etho...
Quest Global together with NVIDIA to build Omniverse Digital Twin Solutions
Quest Global announced its development of new services and solutions, based on the NVIDIA...
ASIRT 107th TECHDAY conducted in Mumbai
The Association of System Integrators and Retailers in Technology (ASIRT) conducted its ma...
OITF 2023 lays stress on how the Digital Workplace trends are getting redefined
Technology is an enabler. It provides the means to create and make a difference, which ult...
Hikvision showcases Problem-Solving Retail Security Solutions in National Retail Federation Show
Hikvision is excited to attend the National Retail Federation’s NRF 2023 Retail Show...