Companies in India are actively seeking professionals skilled in data analytics, generative AI, and machine learning, reveals a report by recruitment firm Michael Page.
Various sectors, especially IT, are witnessing a surge in demand for talents in technology, data, AI/ML, product development, and security. Junior employees are enjoying salary hikes ranging from 35-45% when switching jobs, while mid-level and senior management are experiencing increases of 30-40% and 20-30%, respectively, according to Michael Page’s annual Salary Guide.
Traditional industries are also seeing a resurgence in hiring, particularly in manufacturing and operational roles.
India's real estate sector is on the rise, with projections for 2024 indicating increased demand for compliance and sustainability experts.
Moreover, global capability centers (GCCs) of multinational corporations are experiencing a rise in talent requisition, especially in sectors like renewables, electric vehicles (EV), and automotive industries.
Ankit Agarwala, managing director at PageGroup, highlighted the resilience of India's economy post-Covid and emphasized the importance of nurturing talent and fostering innovation.
He noted that while the IT services industry remains a cornerstone, companies are moderating salary increments, expecting hikes around 8%-10%. Industries such as consumer goods, renewables, finance, and healthcare are flourishing due to investments from local and domestic companies.
Agarwala cautioned that salary hikes, which were at high levels previously, have now rationalized. Only those with specialized skill sets can expect significant hikes when switching jobs.
In the procurement and supply chain sector, there is a demand for skills such as procurement logistics, quality assurance, and strategic sourcing. Organizations are looking for professionals in roles like procurement leads, logistics managers, and head of supply chain.
Anshul Lodha, managing director at PageGroup, emphasized that in 2024, the employment landscape in India extends beyond salaries. Flexibility, work culture, and growth opportunities are becoming increasingly important in job transitions, reflecting a mature and holistic employment ecosystem.
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