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2014: Good Year For Job Seekers

The new year will see a lot of job opportunities opening up for aspirants. Sectors like banking, retail and hospitality will be among the highest recruiters.

Moreover, the blue-eyed sectors like IT and ITeS will see an upswing in hiring in 2014. The IT hiring, which was a little down last year, will be back to normal mainly on account of recovery in the US. Companies like Infosys, TCS and Wipro have already announced their hiring numbers indicating a better demand outlook.

The biggest hiring, however, will be in the banking industry. “Right now, the demand in banking is huge. There are both internal as well as external factors playing into this demand. Banking surely will remain the biggest hirer at least for the next four-five years,” says V Sivaramakrishnan, executive president (education services) of Manipal Global Education Services.

According to a report by government-constituted Khandel committee, by 2015, around 80% of general managers, 65% of deputy general managers, 58% assistant general managers and 44% of chief managers would be retiring.

Experts say that about 70,000 officers will be hired in banks in 2014. This excludes people at the clerical and entry levels. “It is a huge number. The government’s financial inclusion policy will further add to the demand,” says Sivaramakrishna. Under the policy, every village having a population of 10,000 people or more needs to have a bank. Hence, there will be more branches coming up in next five years.

The other industries to look forward to are hospitality, fast-moving consumer goods (FMCG) and healthcare. “Indians have finally started to take tourism seriously. In fact, people now love to eat out or go out on a vacation, a drastic change in attitude from what it was 10-15 years ago. Hoteliers, restaurant owners are now looking at expanding even in small cities,” says Aditya Narayan Mishra, director marketing with Randstad India. The sector along with retail is expected to hire anywhere in the range of 80,000-90,000.

Even the healthcare sector will witness hiring in the range of 50,000. “People now are moving away from breakdown healthcare to preventive healthcare. Hence, there are hospitals and small medical units opening in many places,” says Mishra.

Reproduced from DNA