BENGALURU: Healthcare and technology will be at the forefront of any recovery in India’s job markets, according to a report from global recruitment firm Michael Page. According to the analysts, hiring activity was significant even during the lockdown period in niche segments such as edtech and e-commerce, which are expected to report a strong momentum this year too.
Michael Page noted that a Covid-19 induced demand spike in the healthcare sector will lead to a rapid salary rise averaging 8 per cent, followed by FMCG (7.6 per cent) and E-commerce/Internet Services (7.5 per cent). For the tech industry, the report observed that there was an acceleration in the SaaS, health-tech, ed-tech, and gaming industries with rising demand for professionals in the Artificial Learning and Machine Learning space.
Many companies have also capitalised on the availability of Indian tech sector workers looking to return to India as a result of the pandemic. According to the study, 74 per cent of technology companies in India expect a 14 per cent increase in headcount for the year. Companies are also open to considering talent that is available remotely and are ready to offer flexibility for remote working arrangements or hybrid work models for the right candidates, it added.
As for wage hikes, 60 per cent of employers surveyed intend to increase salaries, 55 per cent plan to give out bonus payments, and 43 per cent intend to give more than a month’s wages as a bonus. “Hiring activities among internet-based businesses such as e-commerce and educational technology (ed-tech), remained relatively robust across India and is expected to maintain the momentum in 2021 as well,” said Nicolas Dumoulin, managing director, Michael Page India.