The Importance Of Project-based Hiring To Navigate Through The Growing Uncertainties In The IT Job Sector

Mr. Chitiz Agarwal has spent several years working in the IT industry and has been a tech entrepreneur for over a decade. While working, he saw the need for flexible and contract-based hiring before the global IT sector’s condition worsened. His brainchild, Company Bench allows recruiters to share their specific requirements and get a list of eligible candidates. They can then assess their qualifications, have a glimpse of their skills, and bring them on board if they match their requirements.

What has been the project you are most proud of? What was your specific contribution to it?
We have worked with a very large healthcare services company to setup their salesforce devision. Whole team was deployed by us and we were able to crosssell lot of services to their existing client. They have been using us for last 2 yrs and continuing to grow with us.

Enlighten us on the necessity of Communication Design in the Architecture and design industry.
We live in the age of digitization. We read, write, and even think in digital images. Communication design is more important now than it has ever been. It forms the essence of the architecture and design industry across the globe. Without communication design, it becomes difficult for a brand to convey its messages and engage with its audience. Moreover, communication design gives a unique personality and identity to businesses, helping them stand out from the clutter. This is one of the many reasons why more and more companies, irrespective of their operational scales, are solidifying visual communication across the board.

How does the future of IT turn out in a challenging economic environment?
Although the global IT sector is going through a rough patch, I am positive about things taking a turn soon. IT has always been a highly resilient and adaptive sector. When the world was struggling with a pandemic, IT companies were thriving and creating new job opportunities.

A few hurried decisions and the inability to cope with change have forced the sector to resort to mass layoffs. Having worked in the industry for over a decade, I can vouch for its comeback as soon as companies realize the importance of changing their hiring models. As a lot of the laying-off conversation is around cost-cutting, switching from in-house employees to contractors can help IT companies save more without compromising the services they receive.

How can project-based hiring help in the mass layoffs scenario in India?
One of the primary causes of layoffs in IT companies is the difficulty in managing expenditures. An increasing number of companies in India are facing negative cash flows, leading to pressure from investors to reduce expenses. Consequently, hiring full-time in-house IT professionals can add to the financial burden as regular salaries must be paid, regardless of the revenue generated or leads converted.

To mitigate this issue, project-based hirings present a more cost-effective alternative. Unlike full-time employees, contractors are not part of the organization and thus do not contribute to long-term expenses. Here, the payment is limited to their time and services, resulting in a one-time cost that is strictly controlled.

How might temporary resources help businesses avoid making expensive mistakes in hiring?
One of the biggest hiring mistakes made by IT companies is resisting the change of working with contractors. When you add a permanent in-house member to your team, you are required to spend a fortune on onboarding them, training them, paying them regular salaries, and giving them multiple resources. This adds to your expenses, making the already feeble condition of the IT sector worse.

Temporary human resources, on the other hand, are much more cost-effective. With an IT contractor on the team, you will be required to pay them according to their time and services. Here, your treasury is not getting drained without generating any output.

What guidance would you provide aspiring leaders in this position who are looking to seize fresh opportunities?
If you are stuck in the situation the global IT sector is facing at the moment and want to get out of the same, it is advisable to allocate your valuable resources to project-based hiring. Recruitment platforms across the globe are associated with some of the most skilled and deserving fresh talent.

In fact, modern IT job portals allow you to hire professionals who are already trained and in tune with the latest technologies. This prevents you from spending additional resources on preparing new hires for your projects. Never restrict yourself from embracing the change and switching to new approaches when it comes to seizing fresh opportunities.