This week was marked by news of an expected economic recovery across markets, sectors, and geographies. Consequently, the number of jobs in the coming months is likely to increase with IT and banking leading the way of economic recovery in India. The IT sector will likely see an increase in global demand from the US and European economies, and banking in India will also likely see an increase in work. Both sectors will likely hire aggressively in 2014. As a result of these changes, jobs will increase across other sectors too.
While the number of jobs continues to rise, the skilling problem in India continues to be a concern for recruiting organizations. A recent report by the assessment company, Aspiring Minds, reveals that a large number of skilled graduates in India are unemployable owing their lack of basic business knowledge and communication capabilities.
The week was also marked by Vineet Nair’s exit from the HCL Board. Nair has served the company for the last two decades and has been among one of the front runners of change in the organization. The Union Bank of India has appointed Arun Tiwari as the Chairman and Managing Director and Parathasarthy N.S. was appointed as the Executive Director of the IT service company, MindTree.