Opportunities still for job seekers

The headlines about rising interest rates, falling production in manufacturing sectors and downward revision in GDP forecasts have made Nitin, a final-year college student, get butterflies in his stomach.

It is true that economic indicators are pointing to a slowdown in growth, but is the picture equally bad across sectors? May be not. After a survey of over 650 companies across 13 sectors in the country, Ma Foi Randstad- an international human-resource service provider, has found that opportunities still exist in many sectors in India.

We draw on their research to tell you what those sectors are and which cities are the best to be in for a job seeker.

Where is the opportunity?

Towards last year end, Ma Foi projected that 1.6 million jobs would be created in India in 2011. In its half year (January-June 2011) review now it has however found that 0.7 million jobs have been added so far; a little short of the required pace to achieve the target of 1.6 million jobs.

The sombre mood in manufacturing, real-estate and construction sectors is the reason for the lower job additions.

The fear that consumers may cut back on spending due to rising interest rates is seeing industrialists withhold expansion plans. And obviously when sales are in question, companies won't be gung-ho about recruiting more . But, don't worry; there are still some good opportunities in some pockets.

Sectors which have shown good hiring trends over the last six months and continue to display optimism on recruiting are- Healthcare, Pharmaceuticals and Hospitality and Trade (including retail services).

The healthcare sector added 115, 000 jobs in the first half of the year and is expected to contribute the largest share in jobs to be created over the next couple of quarters.

Rising healthcare awareness and the mushrooming diagnostics centres in cities are generating employment in the sector, identifies Ma Foi report. There are openings for not just skilled professionals here but also for those who manage functional areas such as administration and accounts.

The hospitality industry is doing well with arrival of more foreign tourists to the country and the increasing number of individuals in India who like to travel. The sector added 94, 300 jobs in the first six months of the year.

In the pharmaceuticals sector, the increasing investment in research and development in India by the global players has been of help. Most jobs (almost 70 per cent) created here were for core activities of research with offers for people in higher experience brackets.

IT and ITeS sectors together added a total of 91, 100 jobs in the January-June period, thanks to the increased software export services and higher FDI in IT infrastructure and software space. But, do note that the industry has suggested caution in hiring from here as its prospects are dependant on the US economy.

The other sector that showed strong buoyancy in the first half is the trading sector which consists of companies engaged in export (of plastic, transport equipment, textiles, etc.) and import (gems and jewellery, metallic ores, etc.) of merchandise. Players in the retail service market too did well.

What should be your expectation?

Most sectors mentioned above, which are on a hiring spree, gave at least 15 per cent increase in pay for lateral new recruits. Note that this was the case for lateral job shifts within the sector, i.e., for people who join a new company within the same sector on same designation as earlier.

The IT and healthcare companies gave the highest increase of around 18 per cent in the period for such recruits. Going ahead too Ma Foi estimates that there will be a similar increase across healthcare, hospitality and pharmaceuticals sectors. So, sharpen your negotiation skills and try to get 5-18 per cent pay hike in your new job, if you are changing one now.

Which is the right place?

Among the eight cities covered by the survey, Pune and Delhi (with the NCR) recorded the highest growth in new jobs in the first half of 2011.

From the numbers of end-December 2010, these two regions have recorded around nine per cent increase in employment.

Bangalore and Chennai grew at a slightly lower rate. Kolkata reported the lowest growth in employment at 6.8 per cent. Pune, Delhi and Mumbai would be the best cities for job seekers over next six months, says the Ma Foi report.

Freshers may look for opportunities in the healthcare, hospitality, banking and financial services and consumer retail services as freshers were recruited in bunches in these sectors over the last six months.

However, do note that a good chunk of recruitment in all these sectors happened through referrals and HR agencies and not through campus placements.

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