PTI reported, on the platter for the job market, the companies are promising an estimated 3-5 lakh new jobs, an increase of 15-20 per cent in headcount and average pay hike of 10-12 per cent that can go up to 30 per cent for certain roles and sectors.
While the full-year figures are still awaited, the Naukri Job Speak Index for the month of November 2014 showed a 13 per cent hiring growth on a year-on-year basis.
According to the global human resource solution provider, Aon Hewitt, the average salary increase for 2014 as projected by over 500 organisations in India stood at 10 per cent, with a range of 8.8 per cent to 12 per cent across industries.
According to Indian Staffing Federation, an apex body of staffing industry in India, the job growth is likely to touch 12 per cent fuelled by a growing market demand, while salaries can grow by 12-15 per cent in 2015.
“Organisations that will emphasise on non-monetised employee benefit programs with a focus to increase employee value proposition will have competitive edge to get key talent. In addition, hiring and retaining critical talent remains a challenge with companies trying to enhance pay for performance programs,” said Sambhav Rakyan, Data Services practice leader, Asia Pacific at global professional services company Towers Watson
As per leading job portal Naukri.com, there has been a significant rise in hiring activity since the beginning 2014, while the momentum picked up significantly after May.
Summing up the the year in terms of hiring, executive search portal Headhonchos.com Founder Shiv Agrawal said, “2014 has been a turnaround year as hiring has moved up by a sharp 10 per cent and is likely to grow meaningfully in 2015
Executive search firm GlobalHunt’s MD Sunil Goel said that the year 2014 was much better year compared to 2013 in terms of hirings.
After some volatility in the first half due due to elections, the last 6-7 months of the year showed “a pretty consistent and growing number” for hiring activities as the companies began working on their expansion plans.
For 2015, Goel said that the job market was going to be on a robust hiring mode, which can get a further boost from global players coming in to do business in India.
“Overall 3-5 lakhs jobs are expected to be created in 2015 as growth in industry continues to rebound under present government,” Goel added.
HR experts believe that the confidence that the current government has infused through its proactive approach to business has brought in a huge positivity.