Hyderabad: Experts in the field say that there is no fact in the latest propaganda that there is going to be a huge recession in IT Jobs because of the COVID-19 epidemic.
They are further ensuring that if IT sector employees keep themselves updated with the latest technologies, they need not fear losing any of their jobs.
However, they are further warning that those who have entered into this field and think that they have settled down for life and are not focused on updating themselves on any new technologies are definitely in trouble.
Especially, those employees who have been selected in their campus interviews with a lucrative package but have not taken care to keep themselves informed of the latest technologies are for sure going to taste troubled waters.
In these days of un-denied use of artificial intelligence, the habit of not being able to constantly update self on emerging technologies is going to affect the IT jobs.
Artificial Intelligence (AI), Automation, Machine Learning, 5G are some of the latest technologies which are going to be in high demand, in the near future.
In case, the old team of the employees are unable to work on these technologies, the IT employers are stating that they are forced to put them out of work and take up new talent, for the benefit of the organization.
The local IT sources are also explaining this as the reason as to why elimination is going to be inevitable.
Wake-Up and Gear-Up for the Crisis
Every organization measures the work performance of its employees pertaining to the whole year, during the months of March to May of the subsequent year.
Based on the results, it assigns ratings pertaining to their talent and accordingly decides on their appreciation or termination. Of late, due to the outbreak of the COVID- 19 pandemic, every other organization is now burdened with financial losses.
Especially in countries like India, due to the lack of receiving projects from other countries like the US, there are huge financial and operational risks.
To combat the same, while some companies are only reducing the variable pay, some other companies are in the process of eliminating non-performing employees.
They are also in the process of slowing down the exercise of hiring new recruits, especially through cutting-down on-campus recruitments and others.
Below are a few statistical points to ponder upon:
- Hyderabad has vast opportunities for the growth of IT
- Hyderabad’s IT Industry ranks 3rd after Bangalore and Chennai
- Number of IT employees in the city: 5,46,000
Effect of Covid- 19
- Percentage of Recession / Job loss: Just about 5 per cent
- Fully sustainable sectors: Medical Health & Banking
- Unstable Sectors: Hospitality, Hotel, Travel and Tourism
Utilize Quarantine Properly
Experts say this quarantine is a good time to learn new technologies in IT. There has been no time and opportunity for meditating on new ones while working in offices.
You should also consider this as an opportunity to learn new programming languages while working from home.
Experts are further stating that the safety of jobs is entirely dependent on a constant exercise of improving and updating one’s skills.
