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Non-tech sectors to hire over 1 million tech professionals by 2027-28: Report
According to TeamLease Services 'Digital People Supply Chain Report - Tech in Non-Tech' for H1-2024, at a fast-growing 7.53 per cent CAGR, industries that are primarily in the non-tech sector, such as BFSI and consulting, communication media and technology, retail and consumer business, life sciences and healthcare, engineering research and development (ER&D), and energy and resources, are set to employ over 1 million (11.15 lakh) tech talent by FY28.
Mixed show for formal job creation in February
While net additions to the Employees' Provident Fund Organisation increased, new subscriptions to the Employees' State Insurance Corporation and National Pension Scheme declined.
Blue-collar job vacancies grew 7% in March to 57,11,154: Report
According to the report, the requirement for security service jobs has tripled over the past year and shown a 219 per cent increase on a year-on-year.
Ad major Publicis Groupe India looks to step up hiring
Publicis Groupe APAC CEO Jane Lin-Baden said the Indian business continued its strong growth momentum in 2022. She added that India's importance for Publicis Groupe goes beyond the double-digit growth that the market has been delivering year-on-year.
88% Indian workers see upskilling as integral to career growth, says new report
A new survey by Pearson Skills Outlook reveals that 88% of Indian workers believe they need to keep relearning and training throughout their careers to remain relevant to employers. Employers are catering to this need, with 75% of those surveyed claiming their employers offer skilling as a benefit, and 92% of those take advantage of these services. Artificial intelligence, machine learning, data processing and coding are the top skills that will be attractive for Indian employers in the next few years. The survey, based on 4,000 people in various countries, also highlights that human skills such as decision-making and problem-solving currently dominate the top skills needed for career advancement.
Job cuts in India just a small fraction of global layoffs: Recruitment firms
These layoffs (globally) are predominantly in tech services, products firms and funded startups, and even at some consulting, ecommerce and consumer tech enterprises, which are carrying out workforce optimisation and restructuring exercises, said executives at Adecco, Randstad, Xpheno and ManpowerGroup, among others. Most companies had started the layoff exercises in 2022.
Finance services, EPC, Edtech companies top recruiters at IITs
Companies from financial services, EPC (engineering, procurement and construction), education and manufacturing have held their own against technology biggies in terms of the number of students recruited, show data from IITs Madras, Roorkee, Guwahati and Hyderabad.
Worthless degrees are creating an unemployable generation in India
Many businesses say they struggle to hire because of the mixed quality of education. That’s kept unemployment stubbornly high at more than 7% even though India is the world’s fastest growing major economy. Education is also becoming an outsized problem for Prime Minister Narendra Modi as he attempts to draw foreign manufacturers and investors from China. Modi had vowed to create millions of jobs in his campaign speeches, and the issue is likely to be hotly debated in the run up to national elections in 2024.
Domestic factors keep India's white-collar job market resilient despite overall slowdown in job creation
Companies in sectors including manufacturing, BFSI (banking, financial services and insurance), oil & gas, real estate & construction, auto & auto ancillary, FMCG (fast-moving consumer goods), retail, electric vehicles (EV), telecom, and travel & hospitality are looking to hire this quarter, experts said. Interestingly, while IT/ITeS and startups have seen a sharp comedown from last year's hiring frenzy, tech talent continues to be the most in demand as non-tech industries are undergoing a digital transformation.
India Inc is opening up to trans rights, one hiring at a time
In addition to conducting targeted recruitment drives, companies are identifying and creating more positions for trans persons, including at the leadership level. The companies are putting in place gender-neutral measures covering washrooms, application forms as well as policies for adoption, medical and insurance.
India likely to add 150k jobs this year in phone manufacturing
Quess and Ciel HR officials said they have seen a 100% increase in mandates this fiscal compared to FY23. "Mobile manufacturers in India have restarted hiring in anticipation of demand boost," said Aditya Narayan Mishra, CEO of Ciel HR Services. "The supply chain issue of chip shortage doesn't seem to bother them now. We have seen the demand for technicians, supervisors and quality assurance profiles nearly double vis-a-vis the average demand seen in the last two quarters," he added.
Women more likely to be rejected when they ask for more pay
About 58% of men, and 61% of women said they didn’t ask for higher pay when they were last hired, according to a survey of more than 5,500 US workers conducted by Pew Research Center in early February.
White-collar jobs the next gig thing in tech-driven economy
The participation of high-skilled workers in the gig economy surged by 240% last year, primarily driven by the growing demand for tech roles, according to a study by gig platform Awign. The sectors that have led this trend include e-commerce, fintech, healthtech, edtech, and quick commerce.
Distraught startup employees looking for new jobs
ET spoke to employees across several startups that are now facing the heat of a funding winter and pressure from investors to rein in costs. They have seen colleagues being shown the door; some have left on their own or are on the verge of a burnout. Some say their families can't deal with their work hours - things are rocky both at home and work.
Corner suite exits on the rise as India Inc pushes for growth
CEO exits surged 18% from 141 in CY 2021 to 166 in CY 2022. In 2023, for the first 3 months of the year, CEOs who left their posts stood at 43, according to data compiled by Primeinfobase.
Cash is still king but benefits also make employees stay
According to a study, on attrition and its connection to rewards, companies that provided nonmonetary rewards to employees reported an attrition rate of 11% in 2022. This was significantly lower compared with the average attrition of about 16% for the companies covered in the study.