There will be a 15 to 20 per cent increase in both fresh and replacement hiring in Indian companies compared to 2012
Business expansion will drive large-scale recruitments in several sectors, led by IT and Pharma
The head hunting firm, HeadHonchos, came out with a report earlier this month, ‘Management Hiring: Perspective report 2012’ enlisting the hottest industries for hiring in India this year. The findings reveal considerable changes in the hiring landscape this year compared to 2012.
Along with some macro-economic drivers, such as FDI in retail and Banking Reforms Bill, skill availability and demographic composition of the talent pool will drive hiring trends in various sectors including retail, banking, telecom and infrastructure.
According to Amit Garg, Business Head, HT Digital, “There will be a 15 to 20 per cent increase in both fresh and replacement hiring in Indian companies compared to 2012.” While most sectors will continue to hire skilled professionals in large numbers, IT and Pharma are expected to be the biggest recruiters in 2013.
The Naukri Job Speak Index, which tracks hiring trends across industry sectors, geographies, and functional areas, has shown consistent hiring activity in pharma across several months. Experts predict that the trend will continue across 2013. President of pharma company, Lupin says that, “All large pharma companies in India are expanding and will continue to expand across the next few months. Being a research-intensive industry, there is a need for technically skilled and knowledge workers.”
India’s biggest IT company, TCS, announced yesterday that they have plans to close the financial year with 10,000 more recruits over and above their earlier goal of 50,000. Corporate India is also expected to see significant competition in IT hiring from a very unlikely player, the PSU sector. In November 2012, 14 of the largest PSU companies announced plans of hiring via the Graduate Aptitude Test in Engineering (GATE) 2013. A look into the career websites of these 14 PSUs (including HPCL, IOCL, BEL, BHEL, NTPC, and NALCO) reveals that IT jobs are aplenty. With nearly 81% of the candidates who appeared in GATE 2012 from IT and IT-related streams, added to the attractive remuneration and perks advertised in PSU jobs, the corporate sector in India will face stiff competition from the PSU sector in IT hiring.
A January 7 report by the Times of India reveals that there is a dearth of skilled entry-level talent in the pharma and IT sectors.Tier 1 institutes, such as IITs and NITs are the first preference for hiring in IT companies. The growing scale of IT businesses will however compel these companies to dig deeper into the talent pool in Tier 2 and Tier 3 colleges. Some IT companies, such as Hexaware Technologies, are spending up to Rs. 30,000 per employee on training. Pharma companies are also staring at the face of a huge demand-supply gap and companies are end up investing large sums of money in training. Companies, such as Lupin spend an average of Rs. 25,000 per employee on skilling and training.
As the hiring space in India will likely see a mad scamper for talent acquisition in 2013, social media hiring, access to larger talent pools, and employer branding will likely be the focus areas for companies in the coming months. Hiring organizations will also likely create region-specific strategies to maximize their investment in hiring. Tulika Tripathi, Managing Director of the Consulting firm Michael Page, says that “Companies this year should focus on designing internship programs that are more aligned with industry requirements and can potentially lead to conversions into final offers.”