The Indian workforce has more than one reason to smile this year. Not only are organizations across sectors hiring but are also offering fatter salaries than the year before.
The latest Kelly Services’ India Employment and Salary Guide ‘10-11 indicates that the average increments up-to mid-level are in the range of 15-20% in sectors like BFSI, Auto, Retail and Telecom. Leading the pack once again is the IT & ITES sector with 25-30%. “For those in general roles, we expect marginal salary increases as organizations are increasingly looking at other variable factors such as training and performance bonuses,” explains Kamal Karanth, Managing Director Kelly Services India.
The increments for mid-senior level workforce have been in the range of 40-55%. This of course has resulted in greater retention for organization, otherwise a constant battle. “Most of the talent pool, especially those in mid to senior management roles, will remain in their current organizations,” confirms Karanth. “Companies successfully retaining their workforce are actively involved with finding out what their top talent wants,” adds Vishal Chibber, Director HR, Kelly Services India. “They have realized that it is cheaper to retain their current staff than hire new employees,” he reasons.
Other key findings of the Survey include specific sectoral trends listed below:
1. Banking & Finance – There is a constant demand for banking and finance professionals as there is a constant rise in private, public banks and foreign banks. The sector demands high quality customer-oriented services.
Hot Job: Relationship Managers to provide advice and financial planning.
2. BPO/Call centers – There is an overall upward swing in hiring in this sector. Innovation, quality and process improvement will be the need to retain client base.
Hot Job: Process Managers will be in high demand as the focus is on process improvement and cost efficiency.
3. Engineering – The hiring of engineers with specific skills-set is on the rise, while contractual and temporary job offers continue with project cycles.
Hot Job: Project Manager to handle projects in different domains is in demand.
4. Human Resources – The demand for HR professionals continues to be high as the war for talent grows.
Hot Job: Recruitment Manager to cater to new business and backfills.
5. Information Technology – Talent skilled in IT architecture and solutions continue to remain in demand as enhancements to existing systems are implemented. Big projects that were on hold during the recession are driving employment.
Hot Job: IT professionals with over 10 years of experience for senior positions are high in demand.
6. KPO Analytics - KPO has emerged as one of the leading industries in the hiring game.
Hot Job: Analyst / Sr. Analyst as most companies are looking at bagging new projects and clients.
7. Procurement supply chain & logistics – Although these industries were not adversely affected by the recession but the need for specialists with excellent communication skills has increased.
Hot Job: Warehouse Managers are being sought after to plan for efficient storage and systematic retrieval.
8. Real Estate: The industry is coming back on the profitable track with the demand for offices increasing in metros such as Bangalore and Mumbai. Hiring in this industry is on an upward trend.
Hot Job: Project Managers to handle projects from beginning to end since infrastructure is growing.
9. Sales and Marketing – Though the market has not become as aggressive as in 2007, opportunities in the market are driving sales teams to put forward their best pitches.
Hot job: Senior Sales / Marketing professionals are in demand to manage and implement strategies.
Share
{ 1 comment… read it below or add one }
The surprising thing is that salaries have increased by almost 40-50% this year. Good news for Indian youngsters, who are going to have a bright future ahead of themselves.