GCCs and Product Companies Driving Talent Demand, IT Services Hiring Remains Low: Quess Corp

Staffing and HR Staffing and Human Resources for quess

Posted by pallavi on 2024-11-29 18:19:35 |

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Quess Corp CEO Guruprasad Srinivasan recently discussed the current hiring trends in the IT sector, noting that while the demand for talent in traditional IT services has slowed, Global Capability Centres (GCCs) and product and engineering companies are driving the majority of recruitment activity. In an interview with Moneycontrol, following the company’s Q3 earnings announcement, Srinivasan revealed that hiring by IT services firms had decreased by 16% year-on-year, reflecting the broader trend of subdued demand in the sector.

Despite this, Quess Corp continues to experience strong demand from its collaborations with around 125 GCCs, where much of the hiring is currently focused. These centres are increasingly turning to specialized skill sets, particularly in areas like technology and digital services, to meet the evolving needs of businesses. Additionally, product and engineering companies are ramping up their hiring efforts, further driving talent demand in the market.

However, Srinivasan also cautioned that the demand for talent is expected to remain subdued in Q4, largely due to seasonal factors such as furloughs in Q3, which typically affect hiring cycles. Despite these challenges, Quess Corp's ongoing partnerships with GCCs and product companies position it well to continue supporting talent acquisition in key growth sectors, even as the broader IT services market adjusts to slower hiring trends.

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