Added on: 2/14/2013 3:19:44 AM
The Indian Job Market Scenario in 2013
The job scenario in India saw a difficult slump in 2012 and it can only be hoped that the hiring scenario in the in 2013 will look better. On the brighter side, Companies are now hiring in order to fill up positions that have opened up. According to surveys conducted by recruitment platforms, it is estimated that as much as 39% of Indian employers will likely look for fresh talent this current year. As far as increments for current employees go, it is being touted that an increase of compensation between 10 and 15% should be expected by able performers.
Not all is good though. According to a survey conducted by a consultancy firm, there is still cause for caution. Job opportunities will be low because of the restrain shown by firms after the rate of attrition shot up in 2012. Moreover, the chances of retrenchment might just lead to the fact that job seekers might have a hard time trying to find jobs.
Role of different job sectors
The job sector which will play a major role in the job sector for 2013 would be the public sector, and is estimated to add as many as 70,000 jobs. The entry of big international players due to FDI being passed in the country will probably create more job opportunities. Other sectors are likely to keep adding to job opportunities are the IT sector and banking and finance. These sectors added a healthy number to recruitments in India even in 2012 - another reason why prospective employees should brush up on their job application skills is because the hiring industry is now seriously considering the fact that non-performers will definitely make way for those who really want the opportunity.
So which part of India is performing the best?
According to a region-wise division that displays the division of job opportunities in the country, it is the South sector that turned out to be the biggest player. The North, West and Eastern regions lagged behind their southern counterpart.
As far as hiring in upper level managerial positions is concerned, as per surveys, the Indian market already hires less people at these positions than the global market. However, with the markets slowly settling down in the coming months and organizations looking at retaining their staff, this scenario is set to change.
2012 was difficult for job seekers. Peculiarly, things seemed to appear bright in the beginning of the year, the tumultuous global market marred the scenario. Attrition rates increased, companies looked at cost-cutting techniques that led to letting go of personnel. The generally dismal outlook added to the pessimism. This would soon change as hiring experts and consultants are upbeat about the future.
aniket Replied on 3/31/2015 at 6:10 PM
Informative article-Thanks for sharing.