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project-based work


Increase in flexi-staff hiring may eat into IT industry's margins

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Bengaluru: A move toward project-based work is prompting Indian information technology (IT) services companies to adopt the flexi or contractual staff model while hiring professionals in high-tech areas, spelling rising costs for companies. According to the latest talent market research by Infosys, called Talent Radar 2019, the top five technical skills in demand in digital projects are: analytics, user experience, automation, IT architecture and artificial intelligence. Companies like Tata Consultancy Services Ltd, Infosys Ltd, Wipro Ltd, HCL Technologies Ltd and Tech Mahindra Ltd have adopted this model in varying degrees. The sector's flexi workforce is expected to grow to 720,000 by 2021 from half a million in 2018, according to ISF. To be sure, the move toward contract hires has been a trend across industries, but it has become more visible in IT of late because of a rise in project-based work.