By Wasana Nadeeshani
India (Commonwealth Union)_ A variety of industries, including FMCG, manufacturing, IT, healthcare and construction, have increased their recruiting rates. Meanwhile, the tourist, travel, and hospitality sectors are still getting their bearings in the new normal.
The current year has witnessed an increase in hiring in the wholesale and retail, services, manufacturing, transport and utilities and public administration sectors as post-pandemic living adjusted to internet shopping, more rigorous cleanliness regulations and stricter labor operating norms. In all three industries, small businesses are employing more frequently than medium- and large-scale businesses.
Since it has the enviable power to permit and support remote working employees, the IT/ITeS/BPO industry is leading the hiring trends for 2023. Technology-enabled collaboration, productivity tools and asset shipping are assisting numerous workplaces across industries in making the move to remote working.
The combination of in-office and remote work will be successful in the future. It is a clear indication that recruiting pools would have fewer regional restrictions. In a study by The Conference Board, 36 per cent of the 330+ HR executives at big US firms in particular said they would be open to recruiting remote workers for all roles, whether they were located domestically or abroad. Before the pandemic era, this number was a mere 12 per cent.
The location of a job is no longer a crucial selection factor. Employers are now searching for qualified candidates outside of cities and nations. Many employees appreciate the time flexibility that comes with remote work, even though employers have noticed improved output and efficiency.
While the majority of in-demand job sectors are constant in Europe, some particular industries are unique to particular nations. For instance, in the United Kingdom, roles in construction and real estate have increased by 132% and 62%, respectively, in 2020, as a result of people leaving cities and remote work becoming more common. The adoption of a digital future in India has accelerated technological advancement. Technology in the fields of finance, health, and education is expected to grow significantly and create new jobs.
Project-based or freelance employment has become more popular among many firms as a result of trends in talent acquisition brought on by the COVID-19 pandemic. Domain specialists benefit from the ability to hire the best personnel available worldwide thanks to remote working.
The following experience levels can gain from these trends in talent acquisition: Senior or C Level professionals to work in fields including sales, marketing, finance, human resources, technology and goods, and notably in specialized IT fields, functional abilities including coding, content development, data analytics, research analysis, digital marketing, and online instruction are still in demand. Hiring for specific marketing roles will be driven by the demand for talents like web content writing, content creation, podcasting, video editing, and creative writing as online audience engagement rises.
By 2025, the Indian digital economy is expected to generate up to 65 million jobs, so knowledge of Node.js, JavaScript, Python, Cascading Style Sheets (CSS), Java, Deep Learning, Machine Learning, Artificial Intelligence (AI), Natural Language Processing (NLP), TensorFlow, Tableau, R (Programming Language), Data Analysis, SQL, and Machine Learning is going to be important. Trading, financial analysis, equities research, compliance management, and investment banking expertise will become more valued in the finance industry.
According to research, there is a sizable skills gap between managers and employees, with 64% of managers believing that their staff cannot match their skill needs and 70% of employees admitting they do not possess the skills required for their current position. About 33% more skills were listed by companies in 2020 compared to 2017. Employers will hire people with those skills and pay a premium because retraining the current workforce won’t be quick enough to meet demand.
Consequently, it’s a candidate’s market for many of the open positions. The opportunity to choose from a variety of job roles and companies is available to highly qualified employees. To be prepared with the necessary skills for the future market, half of India’s workforce would need to be up and re-skilled.
