New Year Bonanza: Jobs Mkt Eyes 8.75 L Hiring In Formal Sector



The two key factors that are likely to impact certain sectors in the New Year are the Centre's demonetisation move and the election of Donald Trump as US President.

Some experts said that with Trump's emphasis on bringing jobs back to the US, his anti-immigrant stand and his stated aversion for H-1B Visa might have a negative impact on the Indian IT industry.

"On the surface it may seem that some manufacturing jobs may move back to the US, I believe the net impact will be positive, as the investments are stepped up," Suresh Raina, Managing Partner Hunt Partners, leadership talent advisory firm said.

Moreover, Trump's anti-China stand also helps improved focus on India, again a positive. Indian industry including chemical, pharmaceuticals and engineering will be positively impacted by this shift, Raina said.

Post demonetisation, the positive side would see banks able to source fresh capital to give more loans to companies and strengthen economic growth.

Sectors with a positive outlook for hiring will be Fintech, Infrastructure, and Financial Services including both small savings and payment banks.

"Digital payments have taken off, download of wallets has quadrupled in last few weeks. Payment banks and others in the transaction ecosystem will benefit," Raina added.

HR experts believe, the sectors that are likely to be in focus next year include big data and analytics as companies would need help to make sense of all of the data generated by technological disruptions.

With people moving towards Internet of things (IoT) and automation, other key segments that would be in focus would be information security, cyber security.

"The sectors where hiring will pick-up include Energy, Pharma, non-banking financial companies (NBFC), small and payment banks, infrastructure. Rewarding Top talent will also have a significant component of non cash element," Raina added.

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Source: PTI