A significant increase in the hiring activity in India 2018 Job trends
Looking at the trends, 2018 would be a better year for IT sector as two major segments will see expanded hiring. It is predicted that GICs and FinTech Companies will be the frontiers of IT recruitment in 2018.
Naukri JobSpeak Index for March 2018 stood at 2,129 registering a 3 percent rise when compared to the year-ago period. “We can expect the market to sustain the momentum gained and move further north in the next few months and there seems to be an air of caution in the IT/ITES sectors,” Naukri.com Chief Sales Officer V Suresh said. BPO and insurance industries grew by 11 percent and 6 percent, respectively, the report noted. Driven by significant growth in non-IT sectors like automobile, construction and engineering, hiring activity registered a 3 percent rise in March says a report.
State of Metro City Jobs
Metro cities lead in terms of recruitment activity as Mumbai saw 4 percent rise in hiring activity while Kolkata and Delhi/NCR witnessed a rise of 5 percent and 3 percent respectively. The report added that cities like Chennai, Bangalore and Hyderabad were flat in terms of hiring activity in March this year. In terms of experience, hiring across the senior level (with more than 16 years of experience) showed a robust growth of 8 percent, while the mid (4-7 years) and junior levels (0-3 years) grew by 3 percent and 6 percent, respectively, in March 2018 as against a year ago.
July 2008 has been taken as the base month with a score of 1,000 and the subsequent monthly index is compared with data for July 2008. Based on job listings added to the site month-on-month, the index has been calculated.
IT Talent Hunt
Large Banks which already have their Technology centres in India will continue to expand their IT talent base. To their captive back offices in India, Global in-House Centres of large MNCs would hire at-least 60,000 new people. Fortune 500 non-technology companies are now setting up their technology centres in India.Digital is the core of these consumer-facing companies. Clearly, they are already well aware of this and no longer seen as an outsourced strategy.
FinTech is another area where additional demand will come. With over 200 companies getting funded in the first half of the year the action on hiring has just begun. FinTech along with Health-Tech, Logistics should add about 25,000 IT jobs in 2018.
IT services industry experienced yet another slow down due to the proposed Visa restrictions in the USA. The IT Industry also paused hiring to evaluate the impact on the automation front. In spite of all this talent who found their match changed jobs. But, in terms of the proactive hiring and new jobs creation, 2017 was a year of the zero-sum game.