Coronavirus Pandemic: Most IT Companies In Pakistan Are Unsure Whether to Keep Workforce Over a 6 Month Period.
According to a survey by Pakistan Software Houses Association for IT and ITeS ([email protected]), IT companies in Pakistan are uncertain whether they will keep their current manpower during the coronavirus pandemic.
The Survey’s Suggestion
The alarming report from [email protected] reports that 68% of Pakistani IT companies are skeptical about maintaining their human resources. What’s so unnerving about this is that the survey suggests this number can jump to 89% over the next six months.
Over 200 companies with a collective manpower of over 34,000 people were part of the survey.
Pakistan’s IT industry is currently its second biggest asset in the export industry. It has shown a growth rate of over 24% in recent times. But as the saying goes, “All good things must come to an end”. And in this case, it seems the coronavirus pandemic has become the stop trigger for the industry’s growth.
This is because the IT industry of Pakistan majorly depends upon Business process outsourcing (BPO) companies along with call centers. The virus has caused clients to stop putting in new projects along with current ones delaying payments. As a result, the future of the industry is looking grimmer than it has ever looked.
The report by [email protected] further suggests that although the industry as a whole is bound to recover after the pandemic ends, the biggest long-term loss will be the immense waste of talent.
IT industry has a notoriety for its trainees requiring extensive on-board coaching before they can actually start contributing to real projects. The risk of losing talented people could set back the Pakistani IT industry by YEARS. This isn’t to say that companies aren’t already being forced to cut salaries and make project discontinuations. Meaning the setback has already begun.
[email protected] concluded the report by stating;
“Pakistan’s IT industry will only sustain itself if companies are able to retain their employees.”
You can read the whole report yourself here: “[email protected] Report”
Current Worldwide Tally Of The Coronavirus Pandemic
The current worldwide tally of the COVID-19 outbreak stands at over 11 million cases. Affecting 205 countries and territories around the world and 2 international conveyances, the virus has already taken over 60 thousand lives. Having a consistently rising mortality of 20%, the virus is not showing any signs of slowing down so far.