Hiring activity is likely to continue at a robust pace this year with rising demand for senior executives, mainly driven by big data, machine learning and data science, says a report.
According to the report by professional recruitment consultancy Michael Page India, there will be an increased demand for senior executives equipped with business and stakeholder management experience.
“Movement among senior-level professionals can be attributed to the overall industrial growth and the availability of talent. This explains the key employment trends within the mid and large manufacturing organisations specialising in chemicals, building materials and consumer companies,” the report said.
Entry of new funds within the private equity sector has also led to senior level hiring, it added.
“Also, the rise of ecommerce and fintech businesses have increased opportunities for senior talent to move from established areas like FMCG and banking spaces,” it said. As businesses focus their efforts on professionalising their operations, the report said, there is likely to be a growth in demand for talent in business partnering functions such as human resources, finance and legal.
In particular, recruitment activity in the technology sector is anticipated to grow significantly with new CTO and CIO roles, the report said, adding rapid advancement in the digital space has led to a surge in demand for professionals skilled in big data, machine learning and data science.
In addition to technical abilities depending on job titles, the report said this new breed of business leaders also has to display agility, flexibility, a strategic and commercial mindset as well as mentorship qualities.
The report has also found that salary remains a big driver to change jobs and 20-25 per cent average compensation growth is projected when job switching is within similar industries for the same function.
It said, 88 per cent of job seekers believed they will have better opportunities for skills development, while 80 percent of them perceive the economic situation of the country to be good.
About 63 per cent are satisfied with their general work conditions and top reasons for job switching include the motivation to develop new skills and to attain better work life balance, the report said. — PTI
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