Working In The IT Industry? Here’s How To Get Through The Layoffs

Cloud, big data, DevOps, IoT, AI, and mobile apps used to exist only in our imaginations a few years ago, but they have now become a reality and are transforming the IT sector. The infrastructure area will be turned upside down, and most so-called admins (Storage, Network, Compute, Database) will be a thing of the past.

Due to a combined impact of US politics and the rapidly changing digital landscape, multibillion-dollar Indian IT services companies are minimizing expenses. According to the NASSCOM-McKinsey report, IT companies will lay off about 6 lakh people in the next three years.

What should you do if you’re a techie who’s been laid off?

Most of the people in the IT sector are thinking about their future careers and “what do we do next” to stay competitive. “What Next?” is a frequently asked question. And the answer to that is the below suggestions based on the current market situation:-

  • Internal Retraining

Indian IT businesses’ biggest clients were in international banking and healthcare. These lucrative contracts are drying up as the US economy remains unstable and businesses create in-house capabilities. Companies are now considering newer technology, such as cloud-based services, as well as reskilling their current workforce. To be among the first to make the tough change, learn about the new focus areas and existing reskilling programs and projects.

  • Moonlighting

Have you considered becoming self-employed in the future? Do you want to increase your earnings? Consider freelancing or other sources of income. Create the foundation for another source of income while you still have a job. Work with small businesses that can’t afford the IT talent they need and are prepared to let you assist them, even if you have no prior experience in the field.

  • Learning In The Field Of Technology

If you have the time and financial resources, learning, exposure, networking, and certification will provide you with the credibility and runway for rapid career progression. If you’re certain that your present skillset won’t help you improve your career in the next 5 to 10 years, you should learn something new. Consider pursuing an MTech or MS in a new field such as robotics, artificial intelligence, or data analysis over a few years.

  • Professional Relations

Extend your network by reaching out to people in your immediate circle. Don’t be afraid to ask for help, connections, or employment opportunities. Start creating professional ties outside of your team right away if you haven’t already. According to research, the majority of new job opportunities emerge through major links in your network.

5 Skills That Will Help You Thrive In The IT Business In The Future

Artificial Intelligence (AI) and Machine Learning (ML) are poised to change the technology landscape. Learning something new at an advanced level in a short period is a difficult task. But IT professionals must develop new skills per the change. Here are five skills that can heal you to learn and prepare for the future in the fast-paced technology business.

  • Critical thinking

Critical thinking skills are required in over 20% of IT positions. It is the ability to think critically. Artificial Intelligence and machine learning are improving their ability to make data-driven decisions, but they still have a long way to go. Businesses must continue to rely on people who can make great decisions to predict the future. People with skills like measuring, anticipating, and communicating are in high demand in organizations.

  • Cognitive Flexibility

IT professionals work for companies that demand them to work on numerous projects at the same time. This sort of job demands cognitive flexibility which means flexibility of thought. By excelling in cross-functional tasks in several sectors, technology organizations may go from strategy to execution in less time. Employers have a strong demand for people that can think quickly.

  • Problem Solving

Today’s employees will most likely be tasked with resolving complicated problems that appear to be unattainable. Companies are employing professionals with advanced problem-solving skills in the age of quantum computing. This talent allows IT professionals to adapt to any technology or programming language.

  • Analytics in Business and Marketing

In the future, candidates with business and marketing analytics abilities will be in high demand. The massive amount of data available nowadays has enabled the target population to be trimmed down. You don’t have to guess why customers buy or use particular items or services any longer.

  • Thinking in terms of design

Brands have modified their product marketing strategy in the age of internet advertising. We’ve entered the world of image and influencer marketing. Branding is a design and message approach. Professionals with a thorough understanding of design thinking will be in great demand in tech firms all around the world.

The challenges, as well as solutions, are numerous. Those who do not progress in rank in proportion to their age are automatically terminated. Millions of jobs will be digitized as a result of the new Industry 4.0 revolution. IT professionals must adapt to the changing skill requirements demanded by these new-generation roles.

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