World have experienced an economic recession recently and the global economy have remained sluggish in the last few years. India also suffered its impact to considerable extent. Until 2010, the Indian corporate section continued to be cautious about new job recruitments and giving moderate pay hikes for the existing employees. However, it seems that in 2011, Indian corporate sector is all geared up to hire more employees and provide the salaries to attract the best talent and build competitiveness.
The Indian economy has progressively bounced back to a quite good GDP growth rate and industrial production is also high. Many Indian companies want to unite momentum by improving their talent pool and motivating their workforce with the better pay.
The recent surveys made by various organizations indicate that the Indian economy is going to add about 10 to 15 million new jobs in India in 2011.
Due to continuous economic growth, there is renewed demand for skilled and qualified personnel. The study also adds a note of concern that the key to the continual growth for the Indian economy is to have the sufficiently trained and qualified individuals because nearly three-fourth of the projected new jobs in 2011 would require employees having good vocational training.
The sectors that are expected to boom in 2011 for jobs and pay hikes include IT and ITES (IT Enabled Services), Biotechnology Sector and the services sector. The average pay hike of the employees in this sector was around 15 percent. It is expected to be around 30 to 40 percent in 2011, particularly in the emerging new sectors. The boom is expected to spread throughout the service sector as this sector is already contributing almost two-third to India’s GDP.
The leading IT companies like Infosys, Wipro and TCS have already announced their plan for the recruitment in 2011. Infosys is aiming to hire 20,000 candidates from different educational institutions across the country with the average pay of 3.5 lakh per annum and above. TCS is planning to hire the experienced professionals for more productivity. Wipro and Infosys are offering variable pay scales so that the employees who perform well can earn more. Cognizant Technologies is also offering stock options to the senior management employees in order to retain the best talent.
The other emerging sectors providing jobs in India are
- IT
- ITES
- FMCG
- Government jobs
- Online jobs
- Consultancy services
- Management jobs
- Catering services
- Event management
Online jobs in India are also emerging extensively providing new opportunities for the fresher candidates.
The success of prospective candidate lies in upgrading their skills and acquiring relevant qualifications and training. Companies need the employees that can add value to the company. 2011 will serve as opportune time for the qualified, capable and experienced candidates to climb up the ladder in their careers.
