Each year brings hope, expectations and predictions. This year too is equally special. To build up a positive beginning of the year, here we bring to you the top 5 hiring sentiment that is being forecasted for the year 2020!
Demand for people with training in AI, machine learning, robotics, blockchain will double in 2020
There has been a consistent demand for super-specialized skills like data science, analytics, AI, machine learning, NLP, data visualization, robotics and blockchain that will continue in the current year too. Industry leaders like IBM, Dell, Accenture and Capgemini are all set to hire more number at the entry level. In fact, the openings are across all levels with annual remuneration ranging from Rs 3 lakh to over Rs 1 Cr. According to an estimate by specialist staffing firm Xpheno, currently over 60,000 job openings for the top 10 new age tech skills are available in the market. Furthermore, where increasing cost pressures and an uncertain business environment is prompting many companies to go slow on overall hiring across other domains, the demand for these tech based new skills are seen to double in the year of 2020.
Startups will become the major contributor for increasing the hiring index of 2020
It is predicted that 2020 will witness a higher trend on hiring sentiments in respect to startups like UrbanClap, Practo, Pinelabs, ShareChat, Lenskart, Zoomcar, Nykaa and many more. The plan of expansion and aggressive growth strategies are the prime reason for increasing the headcount by these firms. Furthermore, sector experts predict that such startups would be hiring in key technology roles that will propel the demand for niche skills. Around seven lakh new jobs are expected to be created in the new calendar year 2020 and unsurprisingly the list has startups topping the chart as major contributors.
Ecommerce engines will keep the momentum high in their hiring spree
The rise of delivery employment model used by ecommerce industry has been infusing huge number of workers every year. The trend will remain the same for the year 2020 too. For instance, in 2018, the company UrbanClap had around 12,000 professionals. This scaled to 30,000 in 2019 and it is expected to rise to 75,000 in the year 2020. Half of these workers do jobs like plumbing, electrical and other home repair jobs; and the rest offer beauty and wellness services. With limited employable skills, the delivery executives of companies like Swiggy, Zomato, etc. are pulling in people from smaller cities like Mathura, Vizag, Nagpur and other to keep running the $30 Bn ecommerce engine smoothly. Hence, this sector of employment where customers use app based services is predicted to shift the dynamics in job generation in 2020.
Uptick in technology leadership hiring is quite evident in the current year
Technology heads are going to be in high demand in 2020. Headhunters like Korn Ferry, Michael Page and Fidius Advisory has seen an uptick in technology leadership hiring sentiment. SaaS and gaming startups are seeing almost double the tractions for CTO and VP-engineering hiring since last year. More hiring in such role is expected in the space of logistics, mobility, cleantech and agritech. In fact, there are big companies who have recently hired tech based leaders like Mahindra Electric, Licious, Ascent Health, Netcore, Walmart and Paytm Money. These developments are giving way for headhunters to predict an almost 100% increase in hiring for such leadership profiles across manufacturing, product and tech companies.
Surge in infusing younger talent set to be the focus in 2020
The class of 2019 is likely to be awash with job offers by companies looking to rope in students adept at dealing with a fast-paced and agile environment. In order to address the challenge of skills shortage, recruiters are shifting their focus to hire professionals with the ability to adapt to changing roles in flexible organizational structures. Ola, Amazon, Meesho, and Bounce are looking to increase their younger talent segment in the year 2020. Ola – the ride hailing app is set to hire more than a third of its employees from college campuses this year. Also, it is forecasted that Tier II and Tier III cities will be able to create more jobs compared to metros due to companies moving their setup gradually from metros to these cities to keep cost control.
Summing up, there is a lot of hope and expectation from startups to keep the hiring sentiments positive in the year ahead. Fresh and experienced candidates in several sectors working on niche technologies are expected to be in demand. At the same time, unskilled jobs at the bottom of the pyramid created by ecommerce companies will also constitute a larger chunk of the overall hiring market.