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News >> Technology >>
IT sector is short of talent
By agencies
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Wednesday, 16 August 2006, 19:30 IST
NEW DELHI: While experts are pondering over complex IT related issues; the elemental requisite is still not met. The IT sector continues to grapple with severe shortage of talented IT professionals, Business Standard reports.
According to a study conducted by Accenture, companies are finding it increasingly difficult to fill vacancies. Ironically, India trains the largest number of IT professionals than any other country.
IT companies are projected to hire 3,00,000 professionals by March 31,2007 whereas the countrys 1,400 odd engineers will churn out only 2,20,00 graduates- 80,000 short of the demand.
Importantly, only a small fraction these have a good grasp of fundamentals and are employable .The low selection ratios reveal that the right kind of talent isnt being churned out.
Ajay Chamania, VP, Product Engineering Services, Patni Computers says, The It industry is facing a talent crunch as the success ratio of software professionals is as low as three percent. The reason is lack of clarity in fundamentals in the respective domain.
Case in point: After screening nearly 100 profiles, 80 were rejected due to lack of project skills in their profiles at JK technologies. Only 20 were considered for the recruitment process, three were selected and finally, two took up the job.
The dearth of professionals has also resulted in a high attrition rate in IT companies. The standard attrition rate in software companies has doubled in the last few years to 20 percent, compared to 9-10 percent in 2004-05.