The Indian tech job market is showing signs of recovery in 2024, according to a new report by Flexiple, a tech hiring platform.
While hiring is on the rise compared to the slump of 2023, it’s not quite the boom market witnessed in 2021. Companies are still cautious due to the funding slowdown experienced in the latter part of 2022. However, there’s a positive outlook with nearly half of hiring managers (46%) actively expanding their teams.
“We observe the hiring market improving, not to the absurd degree of 2021, but to healthy levels,” said Karthik Sridharan, Co-founder and CEO, Flexiple.
Entry-level roles are a bright spot in the market, with a significant number of companies (42%) looking to bring in junior engineers. This trend suggests a shift towards building talent from the ground up, potentially due to the rising demand for skills like AI/ML and Data Science, which companies might find more cost-effective to develop internally.
Speaking of in-demand skills, the report highlights Artificial Intelligence/Machine Learning (AI/ML) and Data Science as the top priorities for hiring managers. This aligns with the increasing focus on technological advancements across industries. With the rise of tools like ChatGPT, companies are looking to stay ahead of the curve by incorporating AI expertise.
Work preferences remain a point of contention. While a majority of engineers prefer hybrid or fully remote work options, many companies favour in-office or hybrid setups. This creates a potential mismatch, and the report suggests that engineers who are flexible and open to different work arrangements might have a better chance of securing their dream jobs.
Upskilling is crucial for engineers looking to stay competitive. The report finds that nearly 40% of engineers plan to focus on acquiring AI/ML skills in 2024. Additionally, frontend and backend development remain in high demand, making them valuable areas for upskilling efforts.
In a positive development for aspiring tech professionals, the report indicates a shift in hiring practices. Companies are becoming more open to recruiting talent from non-tier colleges. This move broadens the pool of potential candidates and provides opportunities for engineers from diverse backgrounds.
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