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Hiring Trends 2018: Here's what to expect in the job market this year

The year of 2017 was a mixed bag for jobs creation. Events like demonetisation and GSTs put light breaks on corporate hiring. Sectors like Automobile, FMCG, Retail, Banking and Financial Services, Real Estate and Pharma Industry felt the heat. IT services industry experienced yet another slow down due to the proposed Visa restrictions in USA. The IT Industry also paused hiring to evaluate the impact on the automation front. In spite of all this talent who found their match changed jobs. But, in terms of the proactive hiring and new jobs creation 2017 was a year of zero sum game.

IT PROMISE: 2018
Looking at the trends, 2018 would be a better year for IT sector as two major segments will see expanded hiring. GICs and FinTech Companies will be the frontiers of IT recruitment in 2018. Global in-House Centres of large MNCs would hire at-least 60,000 new people to their captive back offices in India. Fortune 500 non-technology companies are now setting up their technology centres in India.Digital is the core of these consumer facing companies. They are already well aware of this and no longer seen as an outsourced strategy. Large Banks which already have their Technology centres in India will continue to expand their IT talent base.FinTech is another area where additional demand will come. With over 200 companies getting funded in the first half of the year the action on hiring has just begun. FinTech along with Health-Tech, Logistics should add about 25,000 IT jobs in 2018.

IN IT/FINTECH/E-COMMERCE THE FOLLOWING ROLES ARE LIKELY TO BE IN DEMAND:
1. Full Stack Developers (building new products for E-Com and FinTech funded start ups)
2. AI engineers in preparation for the next 3-5 years
3. UX and UI Engineers to help companies engage the young customer base
4. Analytics Professionals, the demand is still high in all customer sectors, and in with short supply.
Cybersecurity, RPA, 3D Printing skills will also be in demand, but these needs to be freshly trained and deployed. Experienced professionals in these fields are rare as these are emerging skills.

AUTO REBOOT: 2017
The nudge from Indian government to Auto Industry towards electric automobiles in 2030 has created quite a flutter. The auto companies have to gear up to ensure that 100 percent public sector transport has to be electric first. This means the commercial vehicles segment has to be prepared for the electric technology makeover. The change in technology for both commercial and passenger car segments have necessitated for additional R & D investments. Auto companies have to hire fresh talent to develop vehicles with green/electric technology. Furthermore, India continues to be the hub for two wheeler manufacturing and export. The new age vehicles have to appeal to the millennials. Therefore, the connectivity aspect of vehicles will also need to take centre stage to engage the new age customer. In Conclusion, Auto Industry will see addition of at-least 20,000 to 30,000 auto jobs in 2018.

SOME SKILLS WHICH MIGHT SEE DEMAND WOULD BE:
1. Powertrain Engineers for electrical cars of tomorrow.
2. Battery Management Systems Engineers, most R & D work from auto companies have been channelised here.
3. Computer Aided Engineering.

PHARMA/HEALTHCARE, FMCG, BANKING
These sectors would see a moderate growth in jobs as nothing dramatic is expected in terms of jobs growth: 1. Pharma would see demand for regulatory professionals especially for professionals with Europe and US market experience. Pharma sector is still in the growth phase in international market and have to fight intense regulatory hurdles in foreign shores.
2. Diagnostics and Healthcare would see increased demand for collection and homecare professionals.

FMCG/FMCD AND BANKING COMPANIES WOULD LOOK FOR:
1. Rural sales or channel management Experienced Professionals. Banks, FMCG companies need to spread further to increase their market share. Mobile penetration has made advertising easy, but still they need to take the goods to the consumer.
2. Supply Chain Professionals: For FMCG and FMCD companies supply chain and procurement work in India is still intense and complex.

THE OUTLOOK
If we club all sectors the top 5 in terms of demand and scarcity it would be: Full stack developers for IT Industry Analytics Professionals across all sectors Battery Management Systems Engineers Rural Sales Professionals and Supply Chain professionals AI Engineers, this would be like needle in the haystack search. Compared to 2017, 2018 is definitely going to be a year of jobs, Except Manufacturing most sectors would like to correct the blip on 2017 hiring. As recruiters 2018 heralds a new promise to recruiters.

Courtesy

-Article by Anil Kumar ET, Co-Founder Xpheno (courtesy: India Today)-