In FY20, the mandate fulfillment or conversion rate in India's IT services industry reached an all-time low, a considerable decrease from pre-pandemic levels.

For the following two quarters ending in September 2024, India's talent situation for IT services will remain dire, with the mandate fulfillment or conversion ratio at an all-time low of roughly 25% — a dramatic decrease from the fulfillment ratio of 48–52% observed prior to the pandemic era (FY20).

Staffing agencies reported that although demand has begun to pick up again, particularly in specialized fields like cyber security and artificial intelligence, the hiring process has grown more stringent as employers devote more time and resources to choosing candidates.

According to data from Teamlease Digital, employers' enhanced inspection has resulted in a fulfillment ratio of 25–27%, despite a 50% improvement in demand compared to Q4FY23.

Even the GCCs, which are increasing their workforce in India, are recruiting more people, but they are hiring very selectively since there is a talent shortage and businesses cannot afford to train people for an extended period of time. As a result, they choose talent that can be used right away.

The tech sector's volume and velocity of staffing consumption have been stable over the last four quarters, in accordance with the key talent consumers' headcount de-growth throughout the course of the year, according to data from staffing provider Xpheno.