If you're looking for a job, this may come as a very welcome news as corporate India's hiring outlook looks bright in the current year 2018, and is expected to post a growth of 10-15 per cent in this year after a muted job market activity in 2017, according to the India Skills Report 2018.
If you’re looking for a job, this may come as a very welcome news as corporate India’s hiring outlook looks bright in the current year 2018, and is expected to post a growth of 10-15 per cent in this year after a muted job market activity in 2017, according to the India Skills Report 2018. India Skills Report 2018 is the result of a survey conducted by PeopleStrong, an HR technology solutions provider and Wheebox, a skill assessment firm. Notably, other firm’s such as Pearson, CII, AICTE, United Nations Development Programme and AIU, were also involved in the formulation of the report. The survey notes that the hiring outlook for 2018 looks “positive.”
In the report, the ‘intent to hire’ of over 120 employers was documented and the survey reached out to over 5.1 trillion students across India. The report had very significant findings and noted that employability has grown to highest ever level of 45.6 per cent in last five years. Pankaj Bansal, Co-founder and the CEO of PeopleStrong said that India, as a country is undergoing a phase of transition. Further, he called out to the stakeholders to embrace the ‘impact of digital technology’ in their lives. As India is undergoing a transition phase, a lot of efforts are needed both at the supply side and demand side to ensure India completes this phase with flying colours, PTI reported Pankaj Bansal as saying. Th e expert notes that job growth is on the right track.
In another significant takeaway, Delhi, Gujarat, Andhra Pradesh emerged among the top 10 states with the highest employment opportunity. Further, Bengaluru, known as India’s IT hub continued to occupy the numero uno position in terms of employability, followed by Chennai, Indore, Lucknow, Mumbai and Nagpur, respectively. While New Delhi was placed at the 7th position in terms of employment opportunity, the report notes that the national capital has the highest employable pool of candidates (2/3rd were employable).
In another recent study conducted by SBI group Chief Economic Advisor Soumya Kanti Ghosh and IIM’s Pulak Ghosh, the findings were intriguing, as they found that 15 million people are being added to the labour force every year. The study, titled “Towards a Payroll Reporting in India”, estimated that 3.68 million jobs were generated till November of FY18, which would imply 5.5 million in the entire year. “Based on all estimates, payroll of 5.9 lakh (i.e. 7 million annual) generated every month in India in current fiscal,” the report had said.