INDIA JOB MARKET
Hyper-personalised compensation structures may be key to retain tech talent
Tech compensation strategies are shifting. ANSR and Talent500 survey notes 65% gender pay gap, 56% pay disparities. 83% need well-being benefits, half find them essential. Desired perks include flexible schedules, childcare, financial planning, bonuses, RSUs, on-site gyms, healthy cafeterias. 41% lack bonuses. GCCs offer flexible work, career pathing, health insurance, international work, and return-to-work programmes.
Tier I cities dominate in blue-collar gig job opportunities: Report
A recent report by WorkIndia highlights the growing impact of the gig economy in India's urban landscape. Tier-I cities dominated short-term blue-collar job opportunities, accounting for 67.1% of openings from June 2023 to June 2024, with Delhi leading at 17.7% and Mumbai at 16.57%. Tier-II cities followed with 26% of job openings, while tier-III cities faced higher competition despite 11% of applications. Back-office roles were most in demand, comprising 34.5% of jobs, reflecting a shift towards digital skills in roles like online marketing, marking a significant trend in workforce dynamics.
Mid-career roles are seeing a boom in hiring in these sectors
Mid-career professionals contemplating a job shift must carefully assess their skills and interests to align with emerging opportunities in sectors like e-commerce, manufacturing, and BFSI. Industry experts suggest exploring roles in data science, cloud architecture, digital marketing, and cybersecurity to stay competitive in today's job market.
India needs 1 million high-tech engineers as economy expands
India’s $250 billion tech sector plays an important role in the economy, employing about 5.4 million people. Tech services make up about 7.5% of the country’s $3 trillion-plus gross domestic product.
India created over 80 million jobs from FY’18 to FY’22, says ministry of labour and employment
Quoting the data from the Periodic Labour Force Survey and the KLEMS data of the Reserve Bank of India, the ministry said on Monday that this translated to an average of over 20 million jobs or employment per year and demonstrates the effectiveness of various government initiatives aimed at boosting employment across sectors.
India Inc beware! A wave of resignations may be headed your way once job market opens up
As much as 86% of 5,562 professionals who responded to a survey put together by job portal Naukri.com for ET said they would be actively looking out for new jobs now that appraisals were over. About 39% of the respondents said their appraisals had been worse than last year, while they were similar for 33% and better for the balance 28%.
New-age CEOs: India Inc's bosses adapt their qualifications to keep up with dynamic business landscape
The role of CEOs is evolving, with a shift towards more strategic thinking over traditional sales and marketing backgrounds. A recent survey highlights the importance of diverse skills in navigating complex business environments. The adoption of technologies like AI is also driving the need for strategic leadership in today's corporate world.
Hexaware to hire up to 8,000 people globally in 2024
Hexaware Technologies intends to expand its workforce globally by hiring between 6,000 and 8,000 employees in 2024 across various countries including India, the US, Canada, Mexico, Poland, and the UK. The company's hiring plans are contingent upon favorable global market conditions, as stated in a news release. Rajesh Balasubramanian, EVP and Global Head of Talent Supply Chain at Hexaware, emphasized the company's active recruitment drive to attract talented individuals worldwide.
Martech jobs on the rise as digital avenues become prominent in marketing
Digitalization has permeated all sectors, including marketing, which is now adapting to significant shifts in consumer behavior through the rise of marketing technology (martech). Martech blends marketing with advanced software tools to gain consumer insights and track marketing performance, ensuring organizational growth.
Is AI enough for a job at GCC? Companies now train freshers for real-world experience
Aspirational graduates in healthcare technology fuel innovation with a focus on evolving healthcare solutions. Freshers receive in-depth exposure through apprenticeship models, fostering understanding of long-term career paths beyond immediate project work in GCCs.
Job Market Outlook: AI integration set to boost employment in financial and real estate sectors
Manpower Group's latest Net Employment Outlook for June to September 2024 showcases positive trends in India's employment sector, ranking sixth globally. Despite some decline, the Financial Services and Real Estate sectors are driving growth, with AI integration expected to further boost employment opportunities. Various sectors and regions display differing hiring intents, reflecting cautious optimism amidst ongoing global challenges.
Majority of Indian employers plans to add staff in first six months of FY25: Survey
The Indian employment market is expected to expand by more than 6% in the first half of the fiscal year, driven by a positive economic climate across 23 industries, according to TeamLease Services' Employment Outlook Report for H1 FY25. The report, which surveyed 1,417 employers in 20 cities, found that 56% of employers plan to grow their workforce in the coming months, 23% expect to maintain current levels, and 21% foresee a decline in staff numbers.
Indian job market likely to get busy and bustling
The Indian job market is expected to witness a notable increase in workforce expansion. The projected growth for H1 FY25 (April-September) indicates a significant rise to 6.33%, compared to around 4.2% in H2 FY24 (October-March). This expansion in the workforce serves as a crucial indicator reflecting economic growth, business confidence, and organizational strategic planning.
New-age job roles: How India can engineer a future beyond software
With nearly 1,600 international corporations operating captive units, 1.7 million highly educated professionals are employed. It might theoretically increase its pool of relevant talent if it made a concerted effort to improve both the number and calibre of the more than 2.5 million Ph.D.s and graduates in science, technology, engineering, and medicine that India produces each year.
How to create a successful green career: Read what experienced professionals have to say
The green industry is booming with opportunities for young professionals seeking fulfilling careers. Insights from industry experts reveal the motivations behind choosing green roles, the evolving scope of sustainability positions, educational requirements, salary expectations, and challenges faced in navigating this dynamic sector.
Beyond the paycheck: What employees look for and how employers can fix hiring gaps
The changing work culture is causing a gap between employer and employee expectations in hiring and retention. Companies struggle with mismatched salary expectations, required skills, and cultural fit issues. Nonprofits and FMCG companies face the most challenges. Many employees in India and Asia Pacific prioritize flexibility and career progression. Ageism is evident, especially in sectors like Insurance.
Flexibility, salary key jobseeker parameters for new roles in India: Report
Indian workers are demanding higher salaries to cope with rising living costs and to feel valued. Flexibility is another key concern, as per Michael Page India's Talent Trends 2024 report. Employers need to focus on broader aspects like workplace culture, diversity, equity, and inclusion to attract and retain talent. The report highlighted workplace discrimination in India and emphasised the need to address various generational priorities and challenges in different sectors.
Strategic acquisition of mid-level talent is pivotal for D2C companies to grow in this market
The D2C market in India is experiencing significant growth, driven by a surge in consumer numbers and a diversification of offerings. AI and automation are playing a crucial role in revolutionizing operations, while the impact of the Open Network for Digital Commerce (ONDC) is profound.
Improved hiring sentiment, more job postings in 2024: Report
Job postings on apna.co increased by 31% year-on-year in the first four months of 2024, driven mainly by the e-commerce, BFSI, and hospitality sectors. E-commerce saw a 21% increase, BFSI 17%, and hospitality 13%, with a notable demand for professionals in sales, business development, brand marketing, and customer support. Major companies like Bajaj Finserv, Lenskart, HDFC Insurance, and Aditya Birla led this growth.
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