In response to layoffs and a hiring freeze, Indian tech firms are shifting their focus towards upskilling current employees, aiming to address talent shortages, as per Scaler’s 2023 hiring survey. The study encompassed over 100 startups, global capability centers (GCC), IT service providers, and multinational product companies in India. Approximately two-thirds of the surveyed entities have invested in upskilling initiatives for their workforce.
The survey results reveal that 61.6% of participants are financially supporting employee upskilling programs. Among the respondents, 72.02% emphasized the significance of data science and algorithms as critical skills. Additionally, 91.02% sought candidates with problem-solving capabilities, and 38.3% identified skill shortages as a major challenge in the tech sector. The promotion of hybrid work models was affirmed by 76.02% of the respondents.
The study highlights that 90% of participants value problem-solving skills more than formal education in the broader context. However, education still functions as a fundamental screening criterion during the hiring process.
The survey demonstrated that only a minority (less than 16%) of respondents reported a complete hiring freeze. Meanwhile, 38% acknowledged replacement hiring, with startups and product multinationals adopting this approach.
Conducted in-house, Scaler’s 2023 hiring survey engaged with over 100 partner companies spanning diverse sizes and sectors, including IT services, product businesses, and startups. The insights were gleaned from interactions with Chief Human Resources Officers (CHROs), Talent Acquisition Heads, and Chief Experience Officers (CXOs) from organizations like Walmart, Adobe, Zomato, Infosys, InMobi, Samsung, Razorpay, Xpressbees, and more.
