New Delhi: The Indian job market is likely to witness higher recruitment and better compensation this year, with about six out of 10 companies saying that they plan to hire in significant numbers this year, according to a survey.
Recruitment sentiments are positive for the year as the industry has managed to ride out the impacts of demonetisation, the revision in H-1B visa regulations and the implementations of the Goods and Services Tax (GST), according to Wisdomjobs.com's Hiring Pattern and Compensation Analysis in 2018.
Nearly 54 percent of the companies polled said that compensation is likely to stay the same, while 39 percent said compensation is likely to grow this year. Less than five percent said that it will see a decline, the survey report noted. "Nearly 60 percent said that compensation would rise at the junior and middle levels," the report added.
Around 60 percent of all companies surveyed said they plan to hire in significant numbers this year, and nearly 30 percent said they will be recruiting with a specific intention of countering the threat from startups in their industry. "Millennial hiring is expected to proceed aggressively with the creation of a multitude of openings for new age technologies in the IT and technology sectors," said Wisdomjobs.com Founder and CEO Ajay Kolla.
Kolla further noted that sectors such as manufacturing, ITeS, transport and hospitality, which witnessed a fall in hiring in 2017, are also expected to make a partial recovery this year. Sectors like agriculture, education and healthcare, which reported healthy hiring trends in 2017, are expected to continue growing steadily, the report noted.
Wisdomjobs.com surveyed 140 companies and more than 350 recruiters operating in 10 sectors namely IT, retail, hospitality, FMCG, healthcare, automobiles, infrastructure, education, ITeS and BFSI, to understand their hiring intentions. The markets covered under this survey are Hyderabad, Bangalore, Mumbai, Chennai, Pune, Delhi, Kolkata and Ahmedabad.
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Updated Date: Mar 16, 2018 13:34:07 IST