2012 has been a year of continuing decline for many sectors in terms of hiring activity,compunded at the close of this year by the holiday season, end of year budgetary constraints, and overall lack of faith in the economy. Sectors such as automotive – OEM and components, BFSI, and telecommunications are slow at the moment earlier this year.
However, at the mid and senior levels there is definitely a lot of activity when it comes to back-filling however new roles needed to be filled for expansion seem to be on a slow burn.With regards to the hiring in 2013, most Indians are anxious, According to the Antal global Snapshot, the hiring in the next three months will be active in most sectors. Net job generation in 2013 would surely rise. Sectors such as Healthcare & Life sciences, FMCG, Education, IT, Retail, Manufacturing, Infrastructure etc. will be hiring.
Sectors which are likely to hire in 2013
- IT – IT has been one of India’s most promising sectors for quite some time now. The industry has contributed considerably to changing India’s developing economy and has helped India become a global player in providing world class technology solutions. IT at the moment seems to be unsure of increased hiring; however the sector will need to keep pace with 2012 hiring.
- Infrastructure – Recent policy movements within infrastructure and the Government’s clear mandates to banks instructing them to move faster with funding infra projects are an indication that in 2013 there will be heightened hiring activity in this sector.
- Manufacturing – Mid to senior hiring within manufacturing across healthcare & lifesciences, FMCG seem to be on the uptake for the coming 12 months.
- FMCG – Due to Government schemes in rural India, there is an improvement in the purchasing which is leading to a
significant growth in this sector. The FMCG sector is growing at 15-16% year-on-year and hence contributing to the improvement in the hiring outlook,
- Oil & Gas – Most companies within this sector are actively hiring and see 2013 as being busy recruiting for niche talent in both upstream and downstream skills.
- Retail – India has emerged as the fifth most favorable destination for international retailers. The Government’s recent passed FDI upto 51 per cent in multiband retailing This policy initiative is expected to add to the growth of the sector with such policies key starting next year, India’s retail sector is expected to grow to about US$ 900 billion by 2014.
- Health Care – The Indian healthcare industry is expected to reach US$ 79 billion in 2012 and US$ 280 billion by 2020, on the back of increasing demand for specialized and quality healthcare facilities. This is a clear indications that healthcare is going to be a major sector that stimulates economic growth and contribute to employment in the coming year. This will result in significant employment generation across various functions, such as sales, marketing, HR, IT and operations, within the industry.
- Life Sciences – The Life Sciences industry is one of the fastest growing industry in India, it is expected to have a CAGR of around 25-30% between FY2011 & FY2013. As this sector is seeing rapid growth, the manpower requirements are consistently increasing.
Companies are going through a positive as well as negative phase when it comes to the issue of growth in business- hence most companies are looking to hire talent that will contribute to the overall growth of their business.
Despite the continuing uncertainty around the economic and political environment in India and the rest of the world, employer hiring intentions remain positive in most key sectors. There is a lot of optimism for 2013 by when the effects of the latest economic reforms should start kicking in. By the 2nd quarter there seem to be definitive indications that overall hiring activity will pick up.
by Joseph Devasia
Managing Partner, Antal International, Mumbai
