It may rain jobs in the new year as
companies are gearing up to add over 8 lakh new employees to their
payrolls and dole out salary hikes of up to 20 per cent to best
performers in 2014, say experts.
As per estimates of various human resource consultants, the year 2014 seems
very promising for job market unlike 2013, when hirings went slow
across mid and senior levels and recruitments were done only to replace
'key' gaps.
In
the new year, the country is likely to witness a huge surge of
opportunities for job seekers with more and more corporates investing in
their businesses.
"Yes,
2014 looks bullish on hiring. 2014 will be seen as a good happening
year from the jobs perspective as the global economy is improving and India being one of the largest service provider for the global market," leading executive search firm GlobalHunt MD Sunil Goel said.
According
to industry estimates, over 8.5 lakh new jobs may be created in the
calender year 2014. The issuance of new banking licences will be a major
contributor, while IT, healthcare, agri-business, infrastructure and
education sectors are also likely to witness robust hiring trends.
"Last
calendar year was not good either for job seekers or for employers due
to uncertain and fluctuated economical and political conditions. 2014 is
coming with positive vibes for jobseekers and expecting to create 8.5
lacs new jobs in different sectors," Rajesh Kumar, CEO, MyHiringClub.com
& FlikJobs.com said.
With
regards to salary, the average hike for most sectors is expected in
single digits, while top performers can expect pay rise of around 15-20
per cent in 2014, experts say.
"This
New Year is going to bring cheer for employees with a salary hike of
double-digit of at least 10-12 per cent. In 2014, companies are expected
to revise the compensation package and explore a more motivational
approach," Indian Staffing Federation Vice President Rituparna
Chakraborty said.
"All
indications are that the average increase will be around 10 per cent
across the industries. However, as pressure is mounting on companies to
keep its growth intact, high achievers will be getting increase better
than last year, which may range between 15-18 per cent in different
sectors," GHCL Ltd VP and Head-Human Resources Rajesh Tripathi said.
Echoing
similar sentiments, Vdopia's spokesperson, Preetesh Chouhan, VP-APAC,
believes ideally a high performer receives an incremental hike of 12-15
per cent in comparison to an average rise in salary.
According
to Changeyourboss.com CEO Bhupender Mehta, sectors like services,
mining, construction and infrastructure are expected to up their hiring
activities and companies are expected to give 12 per cent average salary
hike.
Lighthouse
Partners' Managing Partner Rajiv Burman said a new government in 2014
should emphasise on promoting growth and therefore hiring trends will
also improve. The pay hikes could be 5 per cent for average performers
and 10-20 per cent for high achievers, he said.
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