According to the findings of the latest edition of
RecruiteX, industry experts are optimistic that new government
formulation will offer the much needed impetus to recruitment in the top
ten industries this year.
While hiring will be guarded, industries will hire for niche skills, domain expertise and expansion.
The
IT/Telecom sector continued on the growth chart and was the best
performing sector during the July to December 2013 period. The
Healthcare industry, too, witnessed positive hiring sentiment, while
rest of the sectors witnessed a slowdown in hiring.
The
Construction sector, in particular, which performed well during January
to June 2013, lost momentum during the latter half of the year and
reported the highest drop in demand for talent.
While
the overall demand was sluggish and core functions took a backseat,
support functions such as IT and accounting & finance managed to
attract talent during the second half of 2013. Though decline in core
functions is not a good sign for any sector, a rise in demand for
support functions signifies expansion, believe experts.
Akin
to the trend during the first half of 2013, sales/business development
professionals continued to be in demand during the stated period. Demand
was also buoyant for HR professionals.
Hiring
was impressive across key job hubs. Western India emerged as the best
performing region during the July to December 2013 period. Delhi NCR
faced the heat of the political unrest. The job market in region was
sluggish during July to December 2013, primarily due to the economic and
political instability.
During July to
December 2013, demand for freshers and mid-level candidates was upbeat.
However, demand for talent at senior levels with 10-20 years and over 20
years of experience, recorded flat to negative activity across
industries. Experts believe that the numbers are indicative of the fact
that organisations were only looking to hire on demand, and hiring is
restricted to niche skills.
The year 2014 is
defined as the year of consolidation by experts. Government
interventions, funding and impending policy changes are expected to
bring cheer to the recruitment landscape, across verticals.
Experts
predict considerable emphasis on up-skilling existing workforce and
local hiring due to the macroeconomic scenario. Overall, single digit
increments are expected in 2014; however, experts added that high
performers can look forward to an increment in the range of 15-20 per
cent.
The bi-annual recruitment report by
TimesJobs.com, RecruiteX, analyses the Indian jobs market in view of
demand and supply of talent. The study scans key industries, assessing
current hiring trends on the basis of location, functional areas and
experience in each sector, along with a preview of the future potential
of key sectors. With this comprehensive analysis of the industry and
associated segments, we aim to serve industry in making strategic
business decisions.
Key Findings
·
Owing to political instability, demand lost momentum during the second
half of 2014 · IT/Telecom and Healthcare sector observed maximum growth
in hiring activity · Delayed and halted projects resulted in drop in
hiring, as well as job-seeking activity, in the Construction and
Infrastructure sectors · Support functions were in demand, hiring was
slow for core functions · Western India emerged as the best performing
region in terms of hiring · Up-skilling workforce to build a sustainable
leadership pipeline is going to be the focus for organisations in 2014
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