Just six months ago the Indian IT industry was avidly debating issues, such as moonlighting, freshers’ salaries, attrition and WFH (work from home). Today it has shed these worries for new ones as they negotiate global headwinds and what was an employees’ market has quickly metamorphosed into an employers’ market, that has been further empowered by the arrival of generative AI-powered ChatGPT tools.
“In most sectors, the tide has turned with employees now concerned with possible layoffs and not looking to jump. There are still some shortages in key skills such as product management and data science but these are the exceptions. With regard to fresher salaries, these have been already adjusted down to fit the new environment,” Peter Bendor- Samuel, CEO of global consultancy firm, Everest Group.