Charisma & spreadsheet analysis pays really well!!
Horror movie being played at the Big Six of information technology sector, in India.
1. When the big 6(@TCS @Infosys @HCLtech @Wopro @LTI_Global @TechMahindraIES)have no compunction about rewarding their leadership with astronomical pay packages, they've no business complaining about attrition, moonlighting, market forces.
When u pay peanuts, u're bound to get 🐒s.
2. BE THAT AS IT MAY, with @nasscom lobbying for the below bunch & more, I expect more of the same.
In anycase, the sector is a job creator & earns precious foreign exch(💲)nge for the country even if the country goes into the dumps by churning an endless stream of coders & clerks.
3. Further, the underlying current in geopolitics make outsourcing an imperative for global ☮️
So, notwithstanding the expected recession in global economy, technology services are expected to fare well
Nevertheless, digitization & robotic process automation present a real threat.
4. If one were to be a devil's advocate, the CEO in India's largest information technology companies is the custodian to their strategies in different domains devised by the leaders of the respective domains.
However, so is the chairman.
Yet, the CEO is more hands on & discerning.
5. In anycase, nobody is out there to do charity.
Of-course, I mean nobody besides @NandanNilekani who has probably become senile & has lost it.🤣
So, it's only logical for the CEO's to expect a competitive remuneration & turn their backs on the company boards offering much less.
6. Here is some starter material for the uninitiated.
https://www.businesstoday.in/latest/corporate/story/why-infosys-tcs-wipro-and-other-indian-it-giants-are-facing-record-high-attrition-rates-346139-2022-09-01
7. How about some more??
https://www.businesstoday.in/latest/corporate/story/it-is-a-horror-former-nasscom-president-kiran-karnik-says-it-industry-freshers-are-underpaid-346592-2022-09-07
8. Unfortunately/fortunately, USA & other countries have tweaked their tax structure to incentivise large corporations to offer jobs that are already redundant.
Further, all managements like to perpetuate their fiefdom to the extent possible.
9. Hence, I expect @LTI_Global .......… @HappiestMinds .. to have a tough time in their endeavour to expand the scope of digitization while the dark clouds of recession loom over the global economy.
So, digitization would get all the lip service it never received while appetite for mediocrity/status quo hold fort.
10. Conversely, many of the back office support jobs are perpetuation of redundancies & even outright charity.
Nevertheless, real work exist in telemarketing, credit card sales, .. collection calls for credit cards, home loan migration, credit migration, .. .
11. Unfortunately, the latter is mostly an endeavour to hoodwink and rip off gullible & desperate individuals and a pain in the wrong end of one's ailimentary canal.
As far as digitization, Web3, .. go, the opportunities would be incremental going forward & it wouldn't be manpower intensive.
12. On the flip side, 5g would grow data exponentially and hence the infrastructure to handle them along with myriad possibilities that go with the package.
So, on balance, the pie may grow.
However, oversupply would be a serious challenge.
13. I didn't expect it so soon.
Website: https://www.ingenuityhandle.com