This year promises to be eventful as far as job-creation is concerned. With elections hopefully leading to a stable government and with the global markets heading towards better times, the year augurs well for job seekers. As the year progresses, the corporates are expected to come out and invest into business again, automatically leading to talent search.
FMCG, consumer durables, telecom, retail and hospitality are expected to drive growth in 2014. With regard to compensation, while last year companies wanted a clear return-on-investment on every hire, this year companies may revise the compensation package and explore a motivational approach. Although most sectors will witness stability, services sectors are likely to be hit by attrition.
TeamLease has, though, added that as the stress is on candidates who could hit the road immediately, 2014 may not be great for freshers. While mid and senior candidates will experience slow growth, professionals with niche and specialised skills will witness steady growth.
With the Cabinet Committee on Investments, which has been one of the landmark achievements of the UPA-2, clearing many infrastructure projects, the effects on job-creation will be apparent soon. Another sector to watch out for is IT. With companies clocking strong results, this can lead to stronger campus hiring. Telecom and pharma sectors are also expected to hire more than what they did last year. This looks promising.
Siddhartha Bhatnagar is a student of the School of Petroleum Management, Pandit Deendayal Petroleum University, Gandhinagar