Make Smarter Talent Acquisition Decisions with Our Latest Insights on India's Job Trends Download Now!
Website Banner RoundUp IT />

Taggd Round-Up 2023: IT Industry

Website Banner RoundUp IT              
				<h5 class=
By Taggd Editorial Team

October 20, 2023


min read

sign up and join the careers circle to unlock this article

Find more curated content by Taggd

sign up sign in


Contributing close to 7.5 percent to India’s GDP in the fiscal year 2023, the Indian IT industry continued to maintain its status as a global  IT hub. India is globally perceived as the largest hub of skilled IT workforce and that edge looks only set to increase. 

2023 was a year of testament for IT companies given the strong global and geopolitical headwinds, but with the rapidly increasing digitization of businesses, AI integration, data-driven practices, and a growing dependency on emerging technologies such as blockchain, the IT sector is bound to rebound, offering opportunities for candidates with a new age skill set.

In this blog, we will summarize prominent trends that shaped hiring in 2023, and provide a brief outlook into the future of hiring in 2024.

Industry Trends and Best Hiring Practices

  • Strategic mix of freshers and experienced professionals: While around 70% of new recruitments consisted of professionals possessing 1 to 10 years of experience, freshers are welcomed openly through campus hiring.
  • Recruiters hunting for soft skills: Though technical skills are obligatory in the IT industry, 2023 has shown a remarkable inclination towards interpersonal skills. Soft skills such as learning agility, problem-solving, communication, and adaptability are increasingly valued.
    “While technical excellence is essential, we also look for candidates who exhibit a results-oriented mindset and a willingness to take risks.”
    – Anil Tari, Director IT at Ingram Micro, COEP, IIM C, IIM K
  • Hybrid model proven most appropriate: More than half of the IT professionals followed a hybrid mode of working, while companies invited one-fourth of their workforce to work from the office. Work from home has shrunk to nearly 20%.
  • Demand for sophisticated technical skills:  In addition to traditional technical skills, recruiters preferred candidates with advanced technical skills such as cloud computing, artificial intelligence, cybersecurity, and data science.
  • Impressive salary increments: Despite a decline, salary increments are well-distributed across the levels; however, companies placed a relatively higher emphasis on rewarding and retaining talent at the frontline and middle management levels.
  • Count on premier consultancies for talent sourcing: In 2023, IT talent was largely acquired through well-founded recruitment agencies. Internal referrals and hiring through job portals also gathered a noticeable share.
  • Tech hub dominance: The predominant presence of a skilled talent pool in major IT hubs such as Bangalore, Pune, Hyderabad, and Chennai, complemented by the economic influence of Gurgaon, underscores access to diverse and competitive expertise.

Read Now: How Taggd Ramped Up IT Talent Hiring for this Engineering Behemoth Within 3 Months 

Future Outlook

  •  The hiring of freshers, along with campus recruitment, is likely to experience an upward trend with a projected boost of 4-5%.
  • Amid calculative decisions, an estimated 8% surge in demand for contractual employees is anticipated to optimize costs.
  • Experts envision the resurgence of the IT industry within a couple of years, thanks to ongoing digitization efforts across various sectors and the increasing reliance on technology in business operations.
  • New technologies and trends will continue to evolve, reinforcing the importance of staying updated and acquiring new skills, including blockchain technology, AI, and machine learning.
  • The hybrid mode of working is here to stay, while working from home is expected to reduce by nearly 10%, giving rise to the number of employees working from the office.
  • The industry remains committed to maintaining a diverse and qualified talent pool.
  • Advanced digital and technical skills are anticipated to take precedence over traditional hiring.

As the IT industry charts a course toward a tech-driven future, positive hiring sentiments and evolving strategies lay a promising foundation in the coming years. With a commitment to acquiring new-age skills and flexible work models, industry experts express their confidence in the continued boom of the IT industry.

If you are looking to streamline your recruitment processes and unlock enhanced value from your hiring strategies, please reach out to us at

For a detailed discussion of your requirements, kindly consider scheduling a complimentary consultation call with our team of hiring experts by writing to us at

We look forward to a conversation with you!