A large number of Indians are optimistic about the employment scenario in the country, a survey says. About 40 per cent of respondents believe that the job opportunities in India are good.
A large number of Indians are optimistic about the employment scenario in the country, a survey says. “About 40 per cent of respondents believe that the job opportunities in India are good,” Michael Page’s second India Job Confidence Index for fourth quarter of 2015, released today, said. India fares better than Asia Pacific, where only 35 per cent job seekers think employment opportunities are good in the region. Fifty per cent of Indian respondents are positive about the current national economy against 29 per cent in Asia Pacific.
It has led to job seekers being less pessimistic about their professional situation in the next 12 months, it said adding that people are more satisfied about job security. The India Job Confidence Index was conducted among 913 respondents in the fourth quarter of 2015, across organisations and sectors, in Indian metro cities and Asia Pacific. The study also revealed that most respondents in Mumbai have shifted their focus citing `no career growth’ as the main reason for switching jobs (44 per cent), which is a new top priority compared to the last quarter when salary was the main factor.
On the other hand, many Delhiites continue to consider development of new skills as the reason for switching jobs (46 per cent). The study also found that most Delhiites (65 per cent) and Chennaites (68 per cent) would like to take up a job abroad. About 14 per cent of the respondents believe that it will take less than a month to find a job in India, while 21 per cent millennials or Generation Y are also of the same opinion. 36 per cent respondents from Chennai have been looking for a job for 1-3 months and 36 per cent from Bengaluru have been looking for a job for less than 1 month.
As the Indian economy keeps up its escalating growth trajectory, the job market also looks very positive
As the Indian economy keeps up its escalating growth trajectory, the job market also looks very positive as 76 per cent companies surveyed are planning to increase headcount in the next one year, says a report. ”About 76 per cent companies surveyed said they expect to increase headcount in the next 12 months as the Indian economy is at its escalating growth trajectory,” Michael Page’s 2015-2016 India Salary and Employment Outlook has said.
The report has surveyed 240 employers from market-leading multinational companies (MNCs) and small and medium-sized enterprises (SMEs) across all major industry sectors. ”Our specialist approach with dedicated teams of recruitment professionals, combined with expert commentary drawn from our extensive involvement with senior executives, gives us an in-depth perspective into each industry sector.
Overall, the Indian market continues to grow, with strong confidence bolstered by high levels of investment,” Michael Page India Senior MD Sebastien Hampartzoumian told PTI. A potential candidate’s decision to accept a new role is usually influenced by brand reputation, career progression and international opportunity, he said. Millennials in particular expect a clear path of career progression that includes opportunities for development, overseas secondment and promotion, he added.
“A favourable online presence, especially on social media platforms, will help accelerate talent acquisition as Indian employees further heighten their engagement levels online,” he pointed out. He said an interesting trend observed while conducting this survey was the apparent modernisation of the Human Resources (HR) function in the country. ”There has been a distinct move towards aptitude-based hiring. Hiring managers are now evaluating candidates purely on their own merit and abilities, regardless of how their experience stacks up, which is very uncharacteristic and does not align with traditional hiring practices in India,” he added.
The report further said that emerging sectors such as e-commerce, healthcare and infrastructure have infected the market with the right kind of enthusiasm. It said now the companies are concentrating their efforts to retain high-performing employees with exorbitant counter offers to stem talent loss. About 60 per cent of respondents use ‘recognition and rewards’ as a top talent retention method, the report said.
To achieve this, 62 per cent of the respondents intend to pay out 10-15 per cent salary hikes in the next 12 months for the purpose. It also found that 61 per cent offer flexible working hours as a work and life balance facilitator. About 52 per cent claim that ‘Analytics and Big Data’ is the most sought-after skill, followed by Financial and Product Control and Regulatory reporting, it added
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