Challenge ahead for industry will be to retrain 50-60% of workforce during shift in technologies.
Indian IT services players may have to re-skill significant chunks of their workforce to drive the digital technology transformation.
Global advisory firm McKinsey & Company says in a report, which was presented at the Nasscom India Leadership Forum on Friday, nearly half of the workforce in the IT services firms will be “irrelevant” over the next 3-4 years.
The report has suggested that IT services providers must turn around their businesses in five major ways such as explosion of new service lines and solutions, investment to build new capabilities, coexistence of digital transformation and traditional services, acquisitions and re-skilling employees with emerging technologies.
McKinsey India Managing Director Noshir Kaka says the bigger challenge ahead for the industry will be to retrain 50-60 per cent of the workforce as there will be a significant shift in technologies. The industry employs 3.9 million people and the majority of them have to be