Inc42 and Udemy, an online platform for skilled-based learning recently held a panel discussion on Getting Future Ready: Is India’s Tech Talent Ready For Future Tech Battleground exploring many critical areas of today’s talent war, such as:
- The demand-supply gap in tech talent: Where India stands
- The need for upskilling and reskilling
- Retaining the existing tech talent
- How companies are maintaining a talent pipeline for a tech-driven future
Moderated by Abhishek Sen, Partner at EY, the discussion included Harsh Kundra, CTO at LEAD; Rajat Bansal, CTO at Games 24×7; Rahul Chaudhary, head of technology and product, GlobalBees, and Wendy Hamson, director, commercial sales (APAC) at Udemy.
Decoding India’s Growing Demand For Tech Talent
With the world going digital at a breakneck speed and rapidly adopting cutting-edge technology in the wake of the pandemic, many companies now focus on building the right tech stacks for sustainable growth. These technology transformations have impacted the hiring ecosystem, compelling organisations to recruit top-rung tech resources.
“The quality of talent in the market is continuously improving. During the pandemic, a lot of organisations have created tech and product road maps and started building internal tech teams. As people’s expertise grows, the competition to recruit these extremely skilled software engineers is getting tough,’’ said Harsh Kundra, CTO at Mumbai-based edtech unicorn LEAD.
The stakes are high for beefing up the tech talent pipeline, and a distinct talent crunch has been felt across geographies and sectors. However, a NASSCOM report states that the demand-supply gap in talent acquisition is at 21.1% in India, the lowest among top tech locations such as US, China and UK. But this scenario will change soon. A recent report by NASSCOM-Zinnov says that India is likely to face a shortage of 14-19 lakh technology professionals by 2026.
As India is often lauded as a talent hub fuelling innovation, companies have started investing in reskilling and upskilling their employees to help them remain relevant and competitive.
“Everyone joining in wants to know how they will grow in the next few years, how they can upskill themselves and how this experience will help build their career. It has, therefore, become a very important thing for us to take them through a brief road map and the tech stack to gauge their interest,” said Rahul Chaudhary, head of technology and product at GlobalBees.
As attracting and retaining talent have become challenging, new-age companies are finding ways to widen their candidate funnel. Indian firms are heavily investing in learning and development Learning & Development initiatives to stay ahead in the tech talent war.
“Think of how we solve customer acquisition, retention and engagement issues. We need to focus on talent building similarly as it passes through these phases. As companies innovate products, organisations, too, need to innovate their tech strategy. Tech should be a core part of an organisation’s strategy. Just like you create your product road map, you should create a talent road map,” said Rajat Bansal, CTO at Games 24×7.
Tune in to this panel discussion to know how companies meet the growing demand for tech talent in today’s competitive market.