As the New Year ushers in, retail and IT to lead on hiring front
According to a survey by the ICICI Bank, the retail industry turnover would grow from the present figure of Rs 27,000 crore to 90,000 crore by 2010
Mumbai, December 31: With the economy growing at a fast clip, the boom in the job market will only become louder in the year ahead. Most of the top hirers like IT, ITeS, KPO and telecom are in a bullish mode and will hire in big numbers.
Mumbai, December 31: With the economy growing at a fast clip, the boom in the job market will only become louder in the year ahead. Most of the top hirers like IT, ITeS, KPO and telecom are in a bullish mode and will hire in big numbers.
The hot sectors that will drive the recruitment boom in 2007 are IT and ITes/KPO, organised retail, aviation, recruitment, financial services, insurance, hospitality and travel, engineering, mining, infrastructure, telecom software, pharma and health. However, the only sector that will outsize IT and ITeS is organised retail. Retail (organised and unorganised) constitutes 10 per cent of India’s GDP and employs 8 per cent of its workforce. That makes it the second largest employer after food and beverages (65 per cent). Even at three per cent of the overall retail pie, organised retail is gaining the numbers at a smart clip.
Almost all the IT companies are very upbeat on hiring spree for 2007. Roughly, IT and ITeS companies are planning to add 20 per cent more workforce in their companies. “The workforce in IT and ITeS companies which currently stands at approximately 13 lakh now will go up to 15.5 lakh in 2007,” said Harveen Vedi, VP Quadrangle, the Search Division of naukri.com.
While the biggies will continue their hiring spree, newer sectors like organised retail, real estate, pharma, finance and insurance will be the new drivers of growth in employment in 2007. Will there be any change in the nature of jobs or skills? “While traditional big hirers like IT, ITeS and telecom will continue to lead, in the ITeS space I see a huge trend moving away from the voice based processes to the data and knowledge based processes requiring specialists,” said Vedi.
According to Prasenjit Bhatacharya, Executive VP, Manpower Consultants, the BPO sector will grow at 37 per cent till 2010 compared to 25 per cent by the IT sector. Another sector which is set to see a lot of hiring is the hotel and hospitality industry. “The hotel industry currently runs a shortfall of 45,000 rooms which will multiply in the days to come and hence holds a lot of promise from the recruitment point of view,” reckons Bhatacharya.
“We need 8 million people in organised retail by 2011, of which about 500,000 would be working in the 300-400 malls that would be there by then,” says Ashish Mahajan, head (Retail Solutions Group), Indian Retail School. A total of 3 million direct jobs would come up in the organised retail by 2011, with RIL’s venture accounting for a third of these. “Around 2 lakh new jobs will be created in the organised retail in 2007 alone,” said Vedi.
According to a survey by the ICICI Bank, the retail industry turnover would grow from the present figure of Rs 27,000 crore to 90,000 crore by 2010 and Rs 1,50,000 crore by 2015. Salaries are likely to rise at 30 per cent a year and jobs in retail would be there for the taking. An interesting trend in the hiring space is the recruitment as a sector by itself that will need over 20,000 people. This sector is emerging separately and there is an immense need for trained recruiters for all companies whether outsourced or in house. “I would estimate that there is a current shortage of about 20,000 recruiters as of today who have the skill sets. I see lots of companies and consultancies trying out people from other sectors to take up careers in recruitment,” avers Vedi.
Another notable feature in the great recruitment story is that earlier there were two sets of candidates. The first set, by virtue of their skill sets, was employable by most of the companies in a respective sector. Then the second set was unemployable candidates which, due to lack of skills, were not employable in any of the companies. However, this is changing now. With new sectors like insurance, travel, retail coming up in a big way, the second category will have opportunities at junior levels.
Another new trend beginning to surface is the reverse brain drain. Talents who have left the country to find greener pastures in foreign shores are begging to retrace their ways. To capitalise on this, online recruitment firms like naukri.com and jobstreet.com have dedicated a site to encourage NRIs to come back to India. “Though in some cases there is a mismatch in salary expectations, a lot of good talent is seriously considering coming back to India specially from US and Gulf countries,” said Vedi.
The SEZ (sepcial economic zone) policy has all the makings of triggering a reverse migration, meaning people from metros will feel attracted to move to SEZs because of the better quality of life the SEZs promise. “The SEZ phenomenon will substantially plug the migration of people from villages to Tier I and Tier II cities,” opines Jairaj Purandrare, Executive Director, PricewaterhouseCoopers Pvt Ltd.
Almost all the IT companies are very upbeat on hiring spree for 2007. Roughly, IT and ITeS companies are planning to add 20 per cent more workforce in their companies. “The workforce in IT and ITeS companies which currently stands at approximately 13 lakh now will go up to 15.5 lakh in 2007,” said Harveen Vedi, VP Quadrangle, the Search Division of naukri.com.
While the biggies will continue their hiring spree, newer sectors like organised retail, real estate, pharma, finance and insurance will be the new drivers of growth in employment in 2007. Will there be any change in the nature of jobs or skills? “While traditional big hirers like IT, ITeS and telecom will continue to lead, in the ITeS space I see a huge trend moving away from the voice based processes to the data and knowledge based processes requiring specialists,” said Vedi.
According to Prasenjit Bhatacharya, Executive VP, Manpower Consultants, the BPO sector will grow at 37 per cent till 2010 compared to 25 per cent by the IT sector. Another sector which is set to see a lot of hiring is the hotel and hospitality industry. “The hotel industry currently runs a shortfall of 45,000 rooms which will multiply in the days to come and hence holds a lot of promise from the recruitment point of view,” reckons Bhatacharya.
“We need 8 million people in organised retail by 2011, of which about 500,000 would be working in the 300-400 malls that would be there by then,” says Ashish Mahajan, head (Retail Solutions Group), Indian Retail School. A total of 3 million direct jobs would come up in the organised retail by 2011, with RIL’s venture accounting for a third of these. “Around 2 lakh new jobs will be created in the organised retail in 2007 alone,” said Vedi.
According to a survey by the ICICI Bank, the retail industry turnover would grow from the present figure of Rs 27,000 crore to 90,000 crore by 2010 and Rs 1,50,000 crore by 2015. Salaries are likely to rise at 30 per cent a year and jobs in retail would be there for the taking. An interesting trend in the hiring space is the recruitment as a sector by itself that will need over 20,000 people. This sector is emerging separately and there is an immense need for trained recruiters for all companies whether outsourced or in house. “I would estimate that there is a current shortage of about 20,000 recruiters as of today who have the skill sets. I see lots of companies and consultancies trying out people from other sectors to take up careers in recruitment,” avers Vedi.
Another notable feature in the great recruitment story is that earlier there were two sets of candidates. The first set, by virtue of their skill sets, was employable by most of the companies in a respective sector. Then the second set was unemployable candidates which, due to lack of skills, were not employable in any of the companies. However, this is changing now. With new sectors like insurance, travel, retail coming up in a big way, the second category will have opportunities at junior levels.
Another new trend beginning to surface is the reverse brain drain. Talents who have left the country to find greener pastures in foreign shores are begging to retrace their ways. To capitalise on this, online recruitment firms like naukri.com and jobstreet.com have dedicated a site to encourage NRIs to come back to India. “Though in some cases there is a mismatch in salary expectations, a lot of good talent is seriously considering coming back to India specially from US and Gulf countries,” said Vedi.
The SEZ (sepcial economic zone) policy has all the makings of triggering a reverse migration, meaning people from metros will feel attracted to move to SEZs because of the better quality of life the SEZs promise. “The SEZ phenomenon will substantially plug the migration of people from villages to Tier I and Tier II cities,” opines Jairaj Purandrare, Executive Director, PricewaterhouseCoopers Pvt Ltd.
Source: Indian express
posted by anandsonline @ Tuesday, January 02, 2007
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