As businesses need to constantly innovate and offer better services, their focus on hiring the right people remains at the forefront. While the demand for good talent is set to increase even further, the regional socio-economic conditions lead to specific trends in hiring, which cannot be ignored. For instance, the recently concluded elections in India have triggered hopes of higher stability and productivity in the market; indicating higher investments by brands, for hiring.
In fact, not just in India, but other APAC nations are also displaying signs of improvement in growth and hiring. Recently, the Manpower Employment Outlook Survey stated that job prospects in general, will remain positive across the Asia Pacific region, with employers in Taiwan, India and New Zealand reporting the strongest hiring plans.
Moreover, the world is now on the edge of the Digital Industrial Revolution, and it will bring Information technology (IT) to the focal point of every industry through a confluence of cloud, social collaboration, mobile and information. This implies that IT will play a major role in driving the job market in APAC regions - with major opportunities in Big Data, Mobile and Cloud Computing during 2014-15.
A recent report by springasia.com revealed that by 2015, 4.4 million IT jobs globally will be created to support Big Data, and almost a quarter of that will be in the Asia Pacific region. So, one of the predominant trends that the APAC countries will experience is the adoption of big data analytics that will continue to grow at an unprecedented pace in 2014. For instance, China and India will lead big data adoption in Asia Paciﬁc, with 21% of organizations in both countries already reporting that they have implemented related projects. In Australia and New Zealand, about one-third of the organizations are either planning to implement, or have already adopted big data systems and will be expanding these initiatives in the future.
Another key emerging trend in the APAC countries is the organizations’ ability to move their acquired talent to where they are most required. Recently, leaders in these countries have reported the highest instances of global talent mobility as compared to any region – more than 6% above the global average.
However, the flip side of this surge in hiring in the industry is that, it may directly affect the attrition levels in organizations. In India, in order to sustain talent, companies will need to pay greater attention to the needs and wellbeing of current employees. Similarly, in Singapore, while companies seek to build up a core of locally-based professionals, employers will need to focus on training and development opportunities to ensure that career progression is at the centre of their efforts to improve retention.
To ensure that attrition does not spike at alarming rates, companies in the APAC countries need to focus even more on self-development, in order to become employers of choice. Organizations that are doing well in this aspect, need to continuously refine their practices, to stay ahead in the game.
Competition for talent is expected to be particularly intense among employers in IT firms, as job openings rise for those with engineering and programming skills. Campus hiring may take a back seat too as companies will be more likely to look for experienced professionals. Hence a strong demand for the right talent is expected in the Indian market.
All in all, this is a great time for the industry. Business seems to be on the upside, and employers are scouting for the best talent. The Asia-Pacific trends show that it is going to be a busy time for the IT industry in terms of hiring, and a much-needed infusion of productivity is in the offing. Companies and the talent pool need to make the best of this upswing, and find what they are looking for!