Flexible Approach: Contract hiring on the rise in IT and business process management sector

Contractual hiring is on the rise in the IT and business process management (ITBPM) sector as companies opt to stay flexible and keep the cost of overheads in check. At least 50,000 people are expected to be hired on a contractual basis by 2024, a substantial increase over the current headcount.

The changed circumstances post Covid-19, especially increase in employees working from home have forced businesses to rethink hiring strategies. Surveys by Han Digital, a talent consulting and fulfilment company reveal, contract employees could account for a fifth of all recruits.