Now hiring! India’s job market is bouncing back

Experts in the field of technology – artificial intelligence, machine learning, data sciences – are in big demand given most businesses need to use more IT.

With India getting back to work, hiring has picked up a fair bit of pace in the last one month. HR consultants say it’s getting close to 70% of the pre-Covid-19 levels with companies quickly filling up vacant positions. The good news is that a few multi-national corporations are beginning to move more work to India and are expected to step hiring for their global technology, R&D and other requirements by the end of the year. Those specialising in risk management and business continuity can command their price; businesses are scrambling to find experts in this space.

Indeed, most local organisations have transitioned fast to work-from-home environments and with business picking up, albeit, slowly, large scale retrenchments are unlikely. As Sanjay Shetty, head (strategic account management), Randstad India, told FE, “Rather than react in knee-jerk fashion, companies have refrained from downsizing. They understand it would cost them 4-5 times the amount to hire, train and bring people up to speed once the situation is back to normal.” Shetty said the focus has been on how to manage cash flows and various other items rather than on drastically reducing the headcount.

Experts in the field of technology – artificial intelligence, machine learning, data sciences – are in big demand given most businesses need to use more IT. Nicolas Dumoulin, managing director, Michael Page India, observed the skills companies are looking for relate to digital transformation as well as technology, engineering and data sciences. “These are in demand across the e-commerce, SaaS, gaming, performance marketing as well as mobility sectors,” Page said.

Companies are increasingly focused on doing business online given e-shopping has picked up majorly in the Covid-19 environment. Saree manufacturres in the south, for instance are hiring IT experts to spruce up their websites. “Many organisations are looking to analyse data and do some number crunching and are also visual merchandising online which was not given importance earlier. Virtual Reality and app development skills too are in demand as are data scientists ,” Shetty said.

Dumoulin lists the sectors where recruitment is seeing a pick-up: pharmaceuticals —local and MNC – e-commerce, gaming and mobility. Firms in Edtech financial technology, cyber security and insurance are also adding to their teams. Apart from requirements for technology skills companies also need to recruit for new roles; doctors and health screeners, for instance.

Banks are scouting for digital experts as they prepare for the next wave of transformation to contactless banking. Professionals who can design the architecture are in demand.