Hiring may rise on economic growth
City: FC Bureau & PTI
Sales professionals with good leadership skills are likely to be in demand across industries this year
Hiring activity in the country is likely to get a boost this year in key sectors such as manufacturing, technology, renewable energy, among others, due to robust economic growth, according to recruitment firm Michael Page India.
"With the Indian government constantly pushing reforms to receive economic growth through proactive measures, we are anticipating these optimistic trends to continue across the key sectors," its managing director Nicolas Dumoulin said.
The report, employment outlook 2018, has compiled employment figures from its database in the last 12 months.
The government is set to upgrade industries such as manufacturing, infrastructure, logistics and warehousing, technology and renewable energy, and the report anticipates large-to-steady hiring activities within these spaces in 2018.
The government projects have drawn the attention of foreign investors, according to the report, and many international companies are willing to set up manufacturing operations in India.
"We estimate a noticeable upsurge in recruitment activities as an outcome of new companies building their teams in India," the report said.
"Further, the ongoing discourse on technology will bring about more opportunities for our clients, while leveraging technology in the recruitment processes will see a rise in 2018," it added.
From a talent perspective, Michael Page said using artificial intelligence-based applications would expedite the recruitment processes, and also allow recruiters to focus on more complex tasks.
Meanwhile, high demand for sales and marketing roles will continue into 2018. "Sales professionals with good leadership skills will be in demand across industries, while in marketing, professionals with experience in consumer, digital, and sales-enablement will be highly sought after," it said.
Michael Page highlighted that the hiring sentiment across finance functions has strengthened with the continuing emphasis on 'ease of doing business' in India.
With investments in 2018, pouring in from private equity firms in infrastructure, energy, and e-commerce spaces, the recruitment firm expects to see increased demand for finance candidates in these sectors, with strong focus on fund raising and investor relations experience.
Meanwhile, the median salary for analytics professionals in India in 2017 stood at `12.7 lakh per annum across experience levels and skill sets, an 8 per cent increase over the year-ago period, says a study.
The salary study by analytics learning platform Great Learning and Analytics India Magazine, noted that the median salary of professionals in this space is on an uptrend and there is more demand for senior professionals in this space.
"The monetary perk of a career in data analytics is huge. Organisations, irrespective of their industries, are looking for analytics professionals with diverse skill sets. Job roles like machine learning engineers, data scientists, data mining specialists, cloud architects and cyber security analysts are in heavy demand and command good salary," said Hari Krishnan Nair, co-founder, Great Learning.
Sectorwise, telecom offers the highest average salaries in analytics, followed by retail and energy sectors.
The percentage of analytics professionals earning more than `15 lakh per annum has increased from 17 per cent in 2016 to 21 per cent in 2017, to 22.3 per cent in 2018.
"Machine learning and analytics skills can easily yield a net package of `12-14 lakh per annum. However, to be successful in this profession, upskilling oneself with the latest technology is imperative. We are entering an age of lifelong learning," Nair added.
As per the report, there is still a long way to attain pay parity across genders, in this profession. Women analytics professionals earn 32 per cent lesser salaries compared to their male counterpart.
In terms of cities, Mumbai continues to be the highest paymaster in analytics at almost `13.3 lakh per annum, followed by Bangalore at `12.5 lakh. Chennai and Hyderabad are the lowest paymasters at `10.2 lakh per year.
The study, however, noted that while the salary of analytics professionals across various industries and specialisations are improving steadily, the IT sector has shown a downward trend with lowest analytics salaries this year.
"IT service providers, primarily providing services to analytics clients across the globe, have been affected the most with their analytics salaries going down. This can be largely attributed to the overall negative impact on IT sector such as automation, and increased attrition rate in the IT space," said Bhasker Gupta, founder and CEO, Analytics India Magazine.