With the New Year upon us, it is time to think of the work prospects. Here is a lowdown of what the year will look like in terms of the hiring trends in various sectors and industries
Optimism on the hiring front
In 2015, job market grew approximately by 10 per cent and industry witnessed an upward trend in the last two quarters. Some surveys have already pegged Indian companies as the most optimistic globally in terms of their hiring outlook for 2016, with most of the hiring activities expected in the e-commerce and Internet-related sectors. Experts believe that 2016 will be much better than the current year as the growth of Indian economy is expected to be fuelled by Make In India and Digital India initiatives that have been taken by the present Government.
The telecom sector
The growing telecom industry currently has about 18 per cent of rural population and 82 per cent people in cities who are dependent on mobile and internet, showing the number of career opportunities in this field,” Paramjit Anand, executive director of Acreaty Management Consultants (P) Ltd says.
With the Government taking favourable steps to provide a conducive environment for service providers and the auction of 3G and 4G services, the telecom sector is going for large-scale hiring. The Indian telecom sector is expected to generate, directly and indirectly, over 40 lakh jobs in the next five years.
Constant addition of subscriber base in the mobile, fixed line, wireless and broadband services have fuelled a need for more jobs in the sector.
A career in this domain is dynamic, lucrative and provides good scope for growth. Qualified candidates can get employment in several reputed telecom companies; mobile telephony — GSM, GPRS and CDMA technology; internet protocol media systems; data networks and many others.
This field even offers good pay packages of `2-8 lakh per annum to freshers. Experienced telecommunication professionals can get higher packages.
Souvik Bose, co-founder and director, YOMA Business Solutions says: “The broadband will grow to 250 million connections by 2017, making India a leading player in the virtual world by having 700 million internet users of the 4.7 billion global users by 2025, according to a Microsoft report.”
IT will be good
IT sector is expected to create 13 per cent less jobs in fiscal year (FY) 16, as per NASSCOM. New technologies can make many roles redundant and companies could improve efficiency as clients demand more bang for the buck. This is expected to be the beginning of a trend.
The sector continues to look bullish next year. Moreover, the push on ‘Make in India’ is expected to see an uptick in hiring in infrastructure and manufacturing next year
NASSCOM is confident that India will generate 2.7 lakh new jobs in the 2016. BVR Mohan Reddy, chairman, NASSCOM, affirmed that the industry will manage $20 billion worth of extra revenues in 2016—an increase of 25 percent compared to FY2014-15 which reported $16 billion of revenue.
Manufacturing & automation
Initiatives like ‘Make in India’ can entail significant job creation in the manufacturing and automation sectors in the coming year. The plan to create 100 smart cities is expected to fuel job growth further
“MoUs with international firms have been signed, creating hope for hiring in 2016 with more inductions for manpower. The year seems to be occupied and promising,” Satya Sinha, CEO, MANCER Consulting Pvt Ltd says.
“2016 will create a large number of jobs in Tier II cities with Digital India and Smart City initiatives. Manufacturing will get a major boost, creating many jobs,” Global Hunt’s spokesperson said.
As per Korn Ferry-Hay Group 2016 Salary Forecast, workers in India are projected to see a real wage hike of 4.7 per cent in 2016, while the overall salary increase is expected to be 10.3 per cent.
Making a deal
Retail sector is likely to grow in 2016 with international brands entering the market and existing retail players set to expand. H&M has already opened a couple of stores and has expansion plans in 2016. IKEA is also likely to open outlets in 2016. Existing retail players have plans to increase their network.
Arun Ganapathy, CFO, Spykar Lifestyles Pvt Ltd. says: “Even we are planning to open around 40 stores. Hence, demand for retail professionals as well as front end staff would be higher in 2016.”
Growth in e-commerce
According to Mr. Souvik Bose, Co-founder & Director, YOMA Business Solutions, “With both micro and macro environment looking strong, hiring would be on an upward trend in 2016. The majority of these hiring/s would come from e-commerce. With 7 per cent of the total retail spends this year, estimates are this would go to 9-10 per cent this year. On the rising e-commerce market and its impact on the retail sector, Bose said, “Most of the good work has mostly been on the sentimental level, which should translate into ground level this year. This would result in the creation of a lot of jobs, especially at the entry level in e-commerce vertical. Most of the brands are partnering up with online retailers, but hiring in brick and mortar retail is not going to get impacted much as online retail accounts to only 7 per cent hiring in this sector.”
“The Government initiative for opening up the e-commerce segment for FDI has enhanced its growth prospects for the year 2016. The tech savvy Gen X feels empowered and has accepted and become an integral part of the e-commerce drive which is on its way to M-commerce. This trend has impacted the traditional retail sector adversely and it is sure to suffer a lot and witness competition as well as complications”, says Paramjit Anand, executive director, Acreaty Management Consultant Pvt. Ltd.
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