IT & ITES Apprentice Hiring Surges: Report

Mumbai, Nov 30 (PTI) The headcount of apprentices in the IT and ITES segment witnessed a steep rise this year and more such people are expected to be hired by companies in the coming months as well, according to a report released on Thursday.

Business solutions provider Quess Corp's 'Apprentice Skill Trends Report' said there has been an over 250 per cent annual increase in apprentice headcount in the IT/ITES space in 2023 compared to last year as companies look at lowering the cost of their workforce.

About 79 per cent of employers in IT/ITES industries expect a rise in apprentice intake in the coming months as well, it said.

As per the report, the spike in hiring in the IT/ITES industry has been steadily growing month-on-month as the industry prioritises apprenticeship engagement for the potential to lower the cost of its workforce.

"The IT space in India has seen a drop in headcount and fresher intake due to global tensions. However, apprentice hiring has picked up substantially in the past year across the IT segment, with newer roles emerging that did not perhaps exist a year ago.

"This is a trend observed across both metro and tier II cities, which is encouraging to see," Quess Corp Vice President Girija S said.

She also said that apprentice hiring in Banking, Financial Services and Insurance (BFSI) segment is also flourishing with the expansion of Non Banking Financial Companies (NBFCs).

"However, the scope for apprentice skilling and job creation in IT/BFSI sectors is unprecedented, and we expect the creation of approximately 5 million jobs by 2025," she added.

The report is based on Quess Corp's operations data, which maps demand and supply in the talent ecosystem for apprentice hiring.

It noted that BFSI and IT/ITES were the top industries employing apprentices in the past year, considering the high return on investment amid ongoing uncertainties and global turmoil.

Interestingly, it found that 75 per cent of apprentices engaged in the BFSI and IT sectors complete training and are considered for full-time employment, ranking much higher when compared to other industries.

In terms of states, Gujarat, Maharashtra, Haryana, Uttar Pradesh, Tamil Nadu, Karnataka, and Telangana topped the apprenticeship engagement chart, the report said.