Introduction
In this emerging world of globalisation, information and technology have often been viewed as crucial sectors that play an important role in the employment market. This particular discussion will highlight the current graduate employment market related to the IT industry with the help of statistical analysis. This also tries to portray the current emerging trend in the IT sector. However, this recommends a few crucial steps that can accelerate the hiring procedure effectively besides enunciating the essential skills, including the technical and soft competencies that are required for the growth of the employee base.
Statistics and Statistical Analysis
Full-time employment in the IT sector worldwide has often been projected to achieve nearly 55.3 million in the particular year 2022 (Sherif, 2023c). This has also increased by almost 3.9 per cent, especially in 2019. In relation to this, it needs to be mentioned that the graduate employment market in the IT industry has generally concentrated on three essential fields: system analyst, user support specialist, and software engineer.
Figure: Distribution of recruitment in the information technology (IT) industry worldwide in 2023 by degree
Source: (Sherif, 2023a)
The above statistical figure tries to delineate the overall distribution of employment in the IT sector across the globe in terms of degree. It has certainly illustrated that the undergraduate degree of nearly four years has become the highest recruiting degree worldwide, at almost 70 per cent (Sherif, 2023a). On the other hand, a postgraduate degree has certainly secured 69 per cent of the current recruiting degree.
Figure: Number of employees in the IT, software and computer services economy of the United Kingdom (UK) from 2011 to 2022(in 1,000s)
Source: (Borgeaud, 2023)
The above-mentioned statistical illustration depicts that the number of employees has gradually been increasing over the years in the IT sector in the context of the UK. It has been shown that there are nearly 1,017 employees in the IT industry who will offer computer and software services in the United Kingdom between 2011 and 2022 (Borgeaud, 2023).
Figure: Employability among graduates across India in 2023 and 2024 by degree
Source: (Rathore, 2024)
The above statistical illustration demonstrates that undergraduates in the domain of MBA often possess the utmost employability, which is nearly 71 per cent (Rathore, 2024). Consequently, it might be appropriate to state that there is a sharp demand for graduates and undergraduates in the various business fields, including the IT sector.
Emerging trends
In order to enunciate the emerging trend related to the IT sector worldwide, it needs to be mentioned that the market size of Information Technology has certainly increased manifold from nearly 67 billion USD in the years 2008 and 2009 to almost 191 billion USD in the current arena, 2019 and 2020 (Jayswal, 2021). In addition to this, it can be elucidated that this can depict the economic changes in the IT sector that have certainly affected progress worldwide.
In addition to this, it can be stated that the IT sector has perpetually been trying to change and evolve over the years with the help of adopting innovative science and measures such as the Internet of Things (IoT), cybersecurity, 5th Generation technology, Artificial Intelligence, Machine Learning, cloud computing, and several others (Abdullahi et al. 2022). This has certainly brought effective changes in the particular sector.
Figure: Number of developers planned to recruit in 2023
Source: (Sherif, 2023b)
These types of changes have also made a crucial impact on the recruitment and number of developers that are typically planned by the business management of various IT firms, as mentioned in the above statistical figure (Sherif, 2023b). In this connection, the capability to view changes and adapt to dynamic progress has also become feasible with the help of the IT sector. This industry has certainly brought a huge change in modern trends as it has initiated social media networking, digital marketing, voice-over-internet protocol, online shopping, and several others (Sefrina, 2024). As a result, it might be appropriate to state that the IT industry has doubtlessly yielded revolutionary changes in modern trends and beyond.
Skills required going forward
There are a few essential technical skills that are required for individuals who aspire to work in the IT industry. This can include programming, data analysis, cybersecurity, project management, computing, artificial intelligence, C++, python, and various others (De Roure and Santos, 2023). Besides this, critical thinking, creativity, teamwork, communication, adaptability, and multiple others can be assessed as essential soft skills (Thornhill-Miller et al. 2023). These are also required for the employees working in this section. However, due to the high competition, it can be stated that emotional intelligence, time management, leadership, collaboration, conflict management, UI and UX, and social media networking will be required in the coming years. Concerning this, conflict resolution can be illustrated as the capability to resolve and manage disputes expeditiously, which can be required in the future.
Recommendation
There are a few effective steps that must be incorporated by the CEO of the IT companies.
- They should try to leverage AI-based and tech-based evaluation to screen for interpersonal and technical competencies successfully.
- They should also try to envisage the applicants for more than one open job role as if they have a high degree and essential qualifications of overlapping competencies.
- The CEO of an IT company should try to concentrate on the demands of the company, which can be mitigated by recruiting a proper employee base.
- They should also attempt to streamline the effective interview procedure by developing the talent pipeline so that they also showcase the appropriate business culture.
Conclusion
In conclusion, it can be surmised that the graduate employment market, besides the emerging trends in the IT industry, has been growing over the years. This industry has certainly brought changes in the economic, technological, and modern trends. This mentioned the essential skills and competencies that are required to work in this specific field in the forthcoming times. These can be illustrated as the salient and effective steps that can be adopted by the business management besides the CEO of the IT companies to enhance the overall hiring process.
References
Abdullahi, M., Baashar, Y., Alhussian, H., Alwadain, A., Aziz, N., Capretz, L.F. and Abdulkadir, S.J., 2022. Detecting cybersecurity attacks in the internet of things using artificial intelligence methods: A systematic literature review. Electronics, 11(2), p.198. Available at: https://doi.org/10.3390/electronics11020198 [Accessed on 20 March 2024]
Borgeaud, A., 2023. Number of employees in the IT, software and computer services economy of the United Kingdom (UK) from 2011 to 2022(in 1,000s). Statista. Available at: https://www.statista.com/statistics/284968/it-software-and-computer-services-economy-employment-in-the-united-kingdom-uk/ [Accessed on 20 March 2024]
De Roure, D. and Santos, O., 2023. NLP, the BB84 quantum cryptography protocol and the NIST-approved Quantum-Resistant Cryptographic Algorithms. Authorea Preprints. Available at: https://doi.org/10.2139/ssrn.4574446 [Accessed on 20 March 2024]
Jayswal, P. J., 2021. How the IT Industry is shaping the future of India?.Times of India. Available at: https://timesofindia.indiatimes.com/readersblog/youth2020/how-the-it-industry-is-shaping-the-future-of-india-36519/ [Accessed on 20 March 2024]
Rathore, M., 2024. Employability among graduates across India in 2023 and 2024, by degree. Statista. Available at: https://www.statista.com/statistics/738255/employability-among-graduates-by-degree-india/ [Accessed on 20 March 2024]
Sefrina, M., 2024. An Inclusive Digital Economy in the ASEAN Region. Available at: https://www.eria.org/uploads/An-Inclusive-Digital-Economy-in-the-ASEAN-Region.pdf [Accessed on 20 March 2024]
Sherif, A., 2023a. Distribution of recruitment in the information technology (IT) industry worldwide in 2023, by degree. Statista. Available at: https://www.statista.com/statistics/1425141/recruitment-in-tech-industry-by-degree-worldwide/ [Accessed on 20 March 2024]
Sherif, A., 2023b. How many developers do you plan to recruit in 2023.Statista. Available at: https://www.statista.com/statistics/1222114/it-developers-recruitment-plans-worldwide/ [Accessed on 20 March 2024]
Sherif, A., 2023c. Full-time employment in the information and communication technology (ICT) industry worldwide in 2019, 2020 and 2023 (in millions). Statista. Available at: https://www.statista.com/statistics/1126677/it-employment-worldwide/#:~:text=The%20worldwide%20full%2Dtime%20employment,roles%20in%20the%20ICT%20industry. [Accessed on 20 March 2024]
Thornhill-Miller, B., Camarda, A., Mercier, M., Burkhardt, J.M., Morisseau, T., Bourgeois-Bougrine, S., Vinchon, F., El Hayek, S., Augereau-Landais, M., Mourey, F. and Feybesse, C., 2023. Creativity, critical thinking, communication, and collaboration: assessment, certification, and promotion of 21st century skills for the future of work and education. Journal of Intelligence, 11(3), p.54. Available at: https://doi.org/10.3390/jintelligence11030054 [Accessed on 20 March 2024]
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