we all agree to this. indian IT & ITES industry is pampering it’s employees with way too much in salaries, a lot of it undeserved (had they stuck to the same company, they wouldn’t have made more than the measly hike during appraisal. they chose the easier route though. by jumping fences often, they have continued to boost the salary they take home, and giving frets to their HRs through attrition). IT & ITES employees will thus have to share a part of the trouble that the industry is going through now.
as long as IT industry boasted of big clients in foreign locations, who were ready to pay for cheap labour services, the industry was more than happy to give in to the salary demands of its employees. human resource reigned high on the difficult issues that these companies faced even then. Nevertheless, dollar fetched a lot of rupees; so these companies were just giving out a small portion of their profits. it was a win-win situation for all. the foreign clients were more than happy to outsource work. the companies were making money in dollars in india. finally, the employees were making huge salaries, an amount that their parents reached during their retirement years.
IT and ITES were one of the top employers. engineering graduates from all streams were able to bid goodbye to factories and plants to work in a more decent office fitted with ACs and computers. lakhs of english graduates, who couldn’t find a job or didn’t want to work in a traditional set-up, easily got attracted to the ITeS sector. people from just about any stream were welcome here, as long as they were ready to adjust.
however, the equations changed when US headed for a recession and rupee became dearer against the US dollar. the foreign clients started finding it little beneficial to offshore work to india.
although there has been no major reversal of offshoring work in news, everyone is waiting with hands folded, me included.
when parents used to advise me on seeking a more traditional career, i put forward stats on how the online industry is flourishing day by day. although they weren’t convinced, i was. so obsessed i am with the online world now that i cannot imagine of myself without a computer and internet. now that i have come so far in this career, it will also be difficult to start anew in another, more probably an offline career.
Gaurav Bhatnagar, in an article written months ago before the recession, says that IT & ITES companies are focused more around human resource issues rather than innovation. he says this will be suicidal for the sector. his prophecies seem to be coming true now.