Tech Companies Look Beyond Traditional Hubs for Talent and Partnerships, Says Study

Tech enterprises are expanding their horizons and seeking new regions and geographies to tap into fresh talent pools and forge innovative collaborations, according to a recent study by Nasscom in association with Indeed. The study highlights the growing trend of companies venturing into untapped markets and forming strategic partnerships in order to gain a competitive edge and access new markets.

The tech industry is increasingly looking beyond traditional tech hubs and exploring Tier 2/3 cities in India as well. Service-based organizations and global capability centers are recognizing the untapped potential of these emerging technology hubs and the diverse talent pools they offer. Smaller organizations, with revenues less than ₹25 crore, are predominantly driven by talent availability and cost savings. On the other hand, larger tech firms, with revenues exceeding ₹250 crore, are drawn to these regions primarily due to the availability of diverse skill sets and untapped talent.

The study, titled “Future of Work – Unravelling the Intricacies of New-Gen Work,” highlights the changing landscape of the workforce. Generation Z and Millennials, driven by fresh perspectives and innovative ideas, will reshape strategies for employee engagement, retention, and acquisition. This multi-generational workforce will set new benchmarks and redefine the workplace dynamics.

To adapt to the future of work, enterprises are embracing new technologies and creating a demand for specialist roles such as AI/ML Scientists, Quantum Computing Researchers, and Blockchain Specialists. However, the study acknowledges the complexity of these roles and their limited adoption at present. Employers are addressing this challenge by either upskilling their existing workforce or hiring subject matter experts through flexible working models like gig and contract workers.

The study further reveals that data & analytics roles are in high demand, followed closely by positions focused on enhancing customer experiences, automation, and efficiencies, particularly in AI and Machine Learning domains.

In conclusion, the tech industry is shifting its focus towards exploring new regions, tapping into diverse talent pools, and forming strategic partnerships to stay ahead in the competitive market. The changing dynamics of the future workforce and the demand for specialized roles are driving this shift, prompting organizations to adopt hybrid and flexible work approaches.

FAQ Section

Q: What does the recent study by Nasscom and Indeed highlight?
A: The study highlights the trend of tech companies expanding their horizons and seeking new regions and geographies to tap into fresh talent pools and forge innovative collaborations.

Q: What are Tier 2/3 cities in India?
A: Tier 2/3 cities refer to smaller cities in India that are not as well-known as major tech hubs like Bangalore or Mumbai.

Q: Why are companies venturing into untapped markets and forming strategic partnerships?
A: Companies are doing this in order to gain a competitive edge and access new markets.

Q: Why are smaller organizations drawn to Tier 2/3 cities?
A: Smaller organizations are predominantly driven by talent availability and cost savings.

Q: Why are larger tech firms drawn to Tier 2/3 cities?
A: Larger tech firms are drawn to these regions primarily due to the availability of diverse skill sets and untapped talent.

Q: What is the “Future of Work” study about?
A: The study is about the changing landscape of the workforce and how it will be reshaped by Generation Z and Millennials.

Q: What specialist roles are in demand in the tech industry?
A: Specialist roles such as AI/ML Scientists, Quantum Computing Researchers, and Blockchain Specialists are in demand.

Q: How are employers addressing the challenge of limited adoption of specialist roles?
A: Employers are either upskilling their existing workforce or hiring subject matter experts through flexible working models like gig and contract workers.

Q: What roles are in high demand in the tech industry?
A: Data & analytics roles are in high demand, followed closely by positions focused on enhancing customer experiences, automation, and efficiencies, particularly in AI and Machine Learning domains.

Definitions

– Nasscom: A trade association of Indian Information Technology and Business Process Outsourcing industry.
– Indeed: An online job search platform.
– Tier 2/3 cities: Smaller cities in India that are not as well-known as major tech hubs.
– Generation Z: The demographic cohort following the Millennials, typically referring to individuals born between the late 1990s and early 2010s.
– Millennials: The generation typically born between the early 1980s and mid-1990s.

Suggested Related Links

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