Signs of a Global slowdown is not at all obstructing the rise of India’s job market. The growth is well supported by economic revival and policies such as ‘Make in India’. According to the HR consultancy firm Unison International, the job market is likely to grow by 30 percent in next few years.
FACTORS OF GROWTH
This trend can be well substantiated by the rise in the demand for candidates by recruitment firms such as Korn Ferry, EMA Partners, Hunt Partners, Michael Page, TeamLease Services and Transearch.
Another factor is the likely growth in consumption. According to K Sudarshan, managing partner, Asia, EMA Partners:
“Domestic consumption pattern is expected to go up in the next couple of quarters and hence all sectors which are aligned to this appetite are expected to hire more. Overall job market is all set for a consolidation followed by a surge as initiatives like Make in India have started bearing fruit”.
Manufacturing will be a major sector that will see a revival, as Modi believes in giving impetus with ‘Make in India’ campaign. Things like single point clearance, good infrastructure and easy availability of land are important outliners on his agenda.
Other major sectors that are witnessing this job uptick includes:
- Renewable energy
- Non-banking financial services
- Consumer goods
What it means for the job seekers?
Be prepared for this growing market by updating your skill set – to suit the desired job positions. Do not wait for the interviewer to give you points of improvement, rather make full use of your network and experience & be well informed in advance.
Talent Crunch is a major issue with the companies because there is no derth of job seekers but there is a scarcity of relevant prospective employees. As a result, it is very important for you to choose your line of interest and pursue it accordingly
At Senior Level Positions the number of available jobs reduce because on an average a company needs just 1 manager to support team of 5-10 memebers. Therefore, it is very important to diversify your skill-set at senior levels and have adequate contacts, to prove an asset for the firm
With the backdrop of declining jobs in the Western countries, this is a Golden chance for the Indian candidates to make the most of this current upsurge. We wish you all the very best in search of your dream job!