Work from Home and Destination Hiring, as per the ITeS Power Movers 2020 Report by Wizikey, are the new trends that have emerged in 2020. The report highlights emerging trends within the ITeS space such as adoption of work from home (WFH) technologies, inclusion of cloud offerings, and strong lineup of acquisitions and partnerships that were witnessed during the pandemic-struck year.
Infosys, TCS, Wipro, IBM, and Cognizant, according to the report, are the top 5 ITeS players of 2020. All companies in the industry had to go through paradigm shifts to embrace WFH as the new normal. Infosys and TCS ranked 1 and 2 respectively in the report, also made huge changes to cope with the demands of the times. While Infosys announced the entirety of 2021 as WFH, TCS took it to the next level by announcing permanent WFH for 98 per cent of its employees. Moreover, an analysis of the announcements by top players reveals that the pandemic has successfully reversed the traditional outsourcing trend in this industry and given rise to destination hiring as a popular practice.
Anshul Sushil, CEO and Co-founder Wizikey, pointed out that with mass layoffs and intense pay cuts making headlines in the first half of the year, the Indian IT industry definitely has gone through its own share of headwinds. “It has taken time for them to adopt to the new normal. By diving through news via our analytical tools, we deciphered that destination hiring and remote working are the top emerging trends in the industry,” he said.
Dissecting the top trends in the industry, the report highlights that amidst a low sentiment, and travel and visa uncertainties, most ITeS firms announced destination hiring plans. The pandemic reversed the outsourcing trend, and gave the world far more confidence in managing operations anywhere around the globe.
In regards to WFH, all the companies in the sector made massive shifts, embracing WFH as the new normal. Being the largest white collar employer in the country, hiring reconciliations, virtual interviews and WFH made buzz for fresher to mid-level hiring.