As per the India Hiring Intent survey, organisations across sectors expect 10-15% increase in hiring intent from last year to this year.
From the demand side there is a positive indication as companies show a revival in their hiring intent. While Retail, Banking, Financial Services andInsurance sectors are anticipating an increase in the pace of hiring. Sectors like ITES, Software, Hardware and IT also foresee a moderate change in hiring numbers.
Finding of Wheebox states that employability amongst the fresh talent has increased significantly in the past 5 years. While in 2014, the percentage of employable population was a paltry 33%, it has achieved a 5.6% increase to rest at a respectable 45.60% this year.
The key domains where the increase in employability has been very significant is Engineering, Pharma, MCA and other focused professional courses. It has been found that vocational courses are creating more job ready candidates than generic courses. Also the courses where practical experience and internships, have been included in the formal course content are faring better.
Wheebox Founder and CEO Nirmal Singh said, “India Skills Report findings this year have seen an improvement in employability which is a good sign for the economy. The Government efforts towards skill development especially in higher and vocational training institutions are paving the way for quality hiring. Moreover the efforts from the government and institutions are showing a positive trend. He further added, new career opportunity like AI, Robotics and data analytics are indicating an upward trend for these sectors.”
The report is a joint initiative of Wheebox, PeopleStrong and Confederation of Indian Industry (CII). This year the Wheebox report has laid special focus on future jobs and the impact of automation to understand how they see jobs evolving in response to technology and innovation. The results are astounding: 69% of the respondents clearly foresee the impact of automation. Adding to this, 24% employers indicate Analytics and 15% foresee Artificial Intelligence as the emerging jobs.
Another interesting insight from the Wheebox report is that close to 80% of candidates assessed are keen to explore internship opportunities and they believe that internship will help them in being employable, whereas 85% of the candidates feel that they are not fully equipped with information or guidance to take a conscious, thought-out career decision.
PeopleStrong Co-founder and CEO Pankaj Bansal said, “We as a country are undergoing a phase of upward transition as we embrace the impact of digitization and automation in our lives. A lot of effort is needed both at the talent supply side and the demand side to ensure we complete this phase with flying colors. What is reassuring is that our analytics show we are definitely on the right track“.