Businesses across sectors are working towards a healthy recovery with a renewed positive outlook in terms of hiring in 2021 according to Michael Page India’s ‘Talent Trends 2021 Report.
According to the report, nearly 53 per cent of companies in India are looking to increase their headcounts in 2021.
Apart from this, 60 per cent of employers are willing to increase salaries. 55 per cent of the companies are planning to give out bonus payments with 43 per cent of them looking to give out more than one month’s worth of bonus, as per the report.
Technology and healthcare sectors are witnessing significant activity.
The healthcare sector is expected to see the largest percentage rise in salary at an average increase of 8 per cent, followed by FMCG with 7.6 per cent and E-commerce/Internet Services at 7.5 per cent, as per the report.
The report further added that 74 per cent of technology companies in India expect a 14 per cent increase in headcount.
“The technology boom in India has only further accelerated especially in the SaaS, health-tech, ed-tech and gaming industries with rising demand for professionals in the Artificial Learning and Machine Learning space. Many companies have capitalised on the availability of Indian techies looking to return to India as a result of the pandemic,” the report said.
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The report further added that companies are also willing to consider hiring remote talent, proving flexibility to the right candidate for remote working arrangements or hybrid work model.
Nicolas Dumoulin, Managing Director of Michael Page India, said, “Technology and healthcare sectors witnessed significant activity even during the lockdown phase given the sudden increase in demand for relevant talent across functions. Hiring activities among internet-based businesses such as e-commerce and educational technology (ed-tech), remained relatively robust across India and is expected to maintain the momentum in 2021 as well.”
Even as job security remained a concern during the pandemic 75 per cent of employees anticipate looking for new job opportunities, while another 22 per cent are passively open to new roles in 2021.
“As we see the economy moving towards recovery, companies will look at a strategy that will ensure retaining existing talent and hiring talent to bridge the skill gap, especially specialised talent in certain key growing areas in technology and healthcare,” said Dumoulin.
“Companies will be looking at a dynamic working culture along with competitive remuneration and benefits package to attract talent. Start-ups in India, examined their core businesses and retrained their focus on profitability last year, while larger conglomerates, took the time to increase their reach and influence and establish new lines of business. This will continue in 2021,” Dumoulin added.