Senior executives wanted; hiring activity set to rise in these sectors

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Published: January 23, 2019 12:33:29 PM

It is a good time to be an experienced executive in the country as the demand for senior hires is on the rise. Senior executives in India, preferably having business and stakeholder management experience will likely see an upsurge in job offers which will be more lucrative than before, a report reveals.

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It is a good time to be an experienced executive in the country as the demand for senior hires is on the rise. Senior executives in India, preferably having business and stakeholder management experience will likely see an upsurge in job offers which will be more lucrative than before, a report reveals.

Salary Benchmark 2019 report released by Michael Page attributed this increase in demand to the rise of India’s e-commerce and fintech businesses, which have provided opportunities for senior talent to move from established industries as the FMCG and banking spaces to these new ventures. The entrance of new funds within the private equity sector has also led to a rise in senior level hiring.

The market growth in the country has far outpaced the availability of senior talent which has resulted in an acute shortage of professionals at this level, noted the report. “This has led the employers to pay a higher price for them. Professionals moving jobs at this management level can expect 20% to 25% increase on their compensation package,” said Nicolas Dumoulin, Managing Director at Michael Page India.

The report suggests that the employment activity will largely be seen within mid and large manufacturing organisations specialising in chemicals, building materials and domestic consumer companies. Another area of potential employment, according to the report is the technology and software sector with new roles of Chief Technical Officer and Chief Information Officer opening up.

Professionals skilled in big data, machine learning, artificial intelligence and the internet of things will see a surge in demand for senior-level professionals keeping in mind the technological progression across industries. Business partnering functions like human resources, finance and legal will also be seeking out more senior professionals.

Hiring is expectedly going to be diverse with more women taking up leadership roles in both corporate offices and within manufacturing and engineering teams, the report said. The roles that are up for grabs are investment professionals, data scientists, digital product manager, sales heads/business heads and risk professionals.

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