7 Things You Need to Know About the IT Slump

Harish Subramanian, Director, Growth & New Product Development at Great Learning recently held a webinar on ‘How To Make it Through the IT Slump on Your Own Terms’. A Kellogg alumni with vast experience in international and national corporations, Harish explains how to overcome the IT slump and come up to pace with current requirements.
With the fast evolving IT landscape, it is important to de-mystify the factors behind the transitions in IT jobs and explain how to make it through the slump on your own terms. Having personally transitioned and reinvented himself to adapt to changing times, Harish’s webinar was about not just surviving the job slump but navigating through it to come out on top.

1. FACTS & NUMBERS
   While there is a definite cut in jobs, NASSCOM predicts that the firing is being offset by hiring of resources with higher skill sets. As we all read about a “doom & gloom” scenario in newspapers, Harish explains what these reports really mean. Meanwhile, here are some important numbers you need to know:
   
2. WHY IS THIS HAPPENING?
   Harish opines that this layoff scenario has been in the offing for a long time. Some of the factors which have contributed to this situation are
   • The macro-economic scenarios such as tighter immigration rules, protectionism, and cautious moving economies. He says that since most business comes from abroad, we must wait and watch how the situation develops.
   • Another fundamental shift in the IT trends is the requirement for advanced tech instead of process driven IT functions.
   • The slack in the system is being cut, such as the deep benches kept in anticipation of excessive work will be cut down.
   • The most well-known cause of the layoff, automation, is making several tasks machinery driven.
     
3. IS THERE A WAY OUT?
   Yes, there is a way out of the IT job crunch! Upskilling is the favored answer of industry experts who are urging professionals to look towards the future and then assess their current skill set.
   • Look towards gathering skills in robotics, process and testing automation as automation has been historically occurring in all industries and processes from kitchen tools to transportation and even technology.
   • As mechanization and automation increases in jobs, gain expertise in multiple skills. It is important to be able to do collaborative problem solving, with an understanding of various problems.
   • Every professional now needs to claim their work by developing a body of work. Share your projects and prove your mettle rather than just claiming expertise.
     
4. WHAT’S YOUR STORY
   Emphasize on your individual story. Rather than fitting into checklists that are the norm, highlight the skills that are your strength. Focus on what sets you apart and how it can bring value to the company. Your narrative needs to be about how you are unique and irreplaceable and should generate interest in you as a prospect.
   
5. LEARN NEW THINGS
   With an eye on the future, learn skills that will be relevant 5 years from now and can keep you two steps ahead of the competition. These include:
   • Internet of Things.
   • Cyber Security
   • Robotics
   • Big Data Analytics
   • UI/UX
   • Think of progressing seamlessly into careers that are extensions of your current skills.
     
6. LEARN TO LEARN
   The current transition towards advanced skills is not the first or last shift in IT and it is important to learn skills every few years. Everything that we’re learning now will be automated in a few years, hence it is important to keep upscaling your knowledge base.
   
7. BECOME PART OF A COMMUNITY
   Develop a reputation in your field by contributing and engaging with relevant communities. An excellent way to do this is to become a part of open source projects. You can check out websites like www.firsttimersonly.com to get started. This can also help you to develop a reputation and network with like-minded people.
   

Watch the webinar here.