Panagariya for job creation by industries and hiring firm sees positive growth

Demand for talent will have positive impact on salaries, says TeamLease report

GN Bureau | May 19, 2015


#Niti aayog   #Arvind Panagariya   #TeamLease   #jobs   #salaries   #Delhi   #Mumbai   #Pune   #Ahmedabad   #Bangalore  

In his first blog published on the newly launched portal of NITI Aayog on Monday, vice-chairman Arvind Panagariya had said that due to limited potential of the agriculture sector in bringing prosperity to a vast population in the long run, the country should emphasise on creating more employment in industrial and services sectors.

And such sentiment is going to be witnessed in the job market. A report by TeamLease Services, a leading hiring and personnel outsourcing agency, says that there is a increasing demand for talent and that is having a positive impact on salaries this year.

“The overall improvement in the business scenario, coupled with right initiatives by the government, seem to be having a positive effect on hiring and salaries this year. The growing optimism and resultant movement of talent will not only compel corporates to loosen their purse strings but help them access a wider talent pool,” said Rituparna Chakraborty, senior vice-president & co-founder of TeamLease.

According to its ‘Jobs & Salaries Primer’ report, retail and telecom steal the show with a 12–15 per cent increment in salaries. Health & pharmaceuticals, media & entertainment, power & energy, consumer goods and durables are also expected to see a positive growth.

Further, Mumbai tops the chart as the highest salary-paying city in as many as seven industries.

"Mumbai does not just steal a march over Bangalore and Delhi, by now the formidable triumvirate, it is also the top salary paying city across as many as seven industries," the report said.

Delhi leads across four industries, while Bangalore in 1, it revealed.

It also stated that certain city-industry clusters are proving to wield enormous clout in consistently attracting the best salary growth rates over time like Bangalore-IT (14.7 per cent),

Mumbai-FMCG (13.6 per cent), Bangalore-healthcare and pharmaceuticals (13 per cent) and Pune-power and energy (12.5 per cent) are the city-industry clusters that dominate this scene.

The report says median pay for some of the blue-collar profiles is around 30 per cent and 50 per cent higher than the minimum wage. Apart from the hard skills, traits such as honesty, personal hygiene and mannerisms are increasingly gaining in demand.

Job creation is also witnessing slight deviations. Those in technological innovation are much sought. Software roles dominate top-tier jobs across sectors, reflecting the severe talent shortage here. Technological skills are the most valued and businesses across industries are willing to pay well for these. Java developers, project managers and infrastructure architects are commanding monthly salaries upwards of Rs 50,000, at least a 50 per cent mark-up from the median salaries for the rest of the job profiles, states the report.

Rising demand for talent seems to have a positive impact on salaries as candidates are expected to witness a double-digit growth of up to 15 per cent in remunerations this season, according to a report.

It also says that the variance between temporary and permanent jobs coming down. The average salary difference between temporary and permanent jobs is 2.2-2.5 per cent, compared with last year’s low of 4.7-5 per cent. This gap has lessened significantly in even no-metros such as Pune and Ahmedabad, between the salaries for temps and people on the rolls. This indicates a maturing of the job market.

From an overall perspective, candidates undergoing appraisal this season are expected to see a salary growth of 10.5-15 per cent across sectors and functions, setting an upbeat tone for the year.

Full Report: Click Here

Comments

 

Other News

From Shah Bano to Shayara Bano: How Rajiv’s blunder undid secularism

History could have repeated itself as a farce, but in the triple talaq case today, there has been no replay. A historic blunder has been undone, though it has taken three decades. The supreme court has once again taken a stance in favour of individual freedom and against fundamentalism &nda

Train passengers die as rail safety panel recommendations gather dust

 The derailment of Puri-Haridwar Kalinga Utkal express at Khatauli has once again raised serious questions on the railways’ safety claims. At least 21 people were killed and many were injured. The derailments over a period of a few months are giving sleepless nights to the top railway.

Political parties support triple talaq verdict

The BJP as well as the Congress welcomed the supreme court judgment that bars instant triple talaq for a period of six months and also seeks a legislation on it.   BJP chief Amit Shah said that he welcomes this on behalf of the party and added “it’s not about anyo

5 judges, 5 faiths, 1 verdict

Five judges from five different faiths deliberated upon and decided that instant triple talaq is to be struck down for a period of six months and the government should bring a legislation over it.   The supreme court bench was headed by chief justice of India J S Khehar, who

REC, PFC didn’t conduct appropriate due diligence: CAG

Rural Electrification Corporation Limited (REC) and Power Finance Corporation Limited (PFC) did not conduct appropriate due diligence during credit appraisal in power generation projects and in the process assumed higher risks on the loan accounts, noted the Comptroller and Auditor General (CAG) in a rep

Triple talaq verdict historic, says Modi

Prime minister Narendra Modi described as “historic” the supreme court judgment that struck down triple talaq for a period of six months.   “Judgment of the Hon`ble SC on Triple Talaq is historic. It grants equality to Muslim women and is a powerful measure



Video

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter