Talent Market Outlook: Expected Hiring Plans in H2 2016
The objective of the Talent Market outlook survey is to look at the hiring trends for the second half of 2016. The survey also takes a look at the functions where the planned hiring would occur in.The survey has been consolidated via personal meeting and telephonic calls.Around250professionals consisting of C-Executives, Senior and MiddleLevel management were personally contacted as a part of the survey. Respondents from different sectors were well represented:
- Financial Services and Consulting
- IT and ITES
- E-commerce and Retail
- Lifesciences and Healthcare
- Manufacturing and Engineering Services
- Real Estate
- Media and Entertainment
Expected hiring plans in H2-2016
The respondents feel that their hiring activities would at least remain the same if not increase in the second half of 2016. Hiring is expected to increase in sectors like IT and ITES and E-commerce and Retail in H2 of 2016. Manufacturing and Engineering Services and Lifesciences and Healthcare feel they will stick to the current planned hiring if not increase it. Sectors that will have not much change in their hiring are Financial Services and Consulting, Real Estate and FMCG.
Expected Headcount Increase for H2’2016
The respondentshave a positive outlook towards hiring and are expected to increase their headcount by 6-10% in the second half of 2016 and an equal percentage are expecting the increase in their headcount to be in the range of 11-30% .Sectors like IT & ITES, E-commerce & Retail, Lifesciences& Healthcare and Real Estate expect the headcount to increase by 6-10% while the legal sector expects the increase to be of the tune of 11-20%.
Expected functions for planned hiring in H2’2016
Business Development and IT and Digital are the functions where most of the sectors will hire in H2-2016. The planned hiring in IT and ITES sector will happen in the IT and Digital function. Business Development / Sales is the function where FMCG, E-commerce and Retail and Lifesciences and Healthcare plan to hire.Functions wherehiring in Manufacturing and Engineering Services has been planned are Production/Maintenance/Quality, BD/Sales and Finance. Niche sectors like legal will have the planned hiring in Company Secretarial and Legal function
Salary increment paid out in 2016
Most of the sectors’ salary increment payout in 2016 has been in the range of 6-10% .Increment payouts for Financial Services & Consulting have been 6-10% in majority of the companies but a few have also paid out 11-20%. Sectors like IT & ITES, E-commerce & Retail, Lifesciences & Healthcare and Manufacturing & Engineering Services have increment payouts of 6-10% and also in the range of 11-20%. Only IT & ITES have had salary increment payouts in the range of 21-30%
With growth expectations of 6-10%, the market is very optimistic about the second half of the year. Most of the companies in different sectors are likely to increase hiring in the second half of 2016. There will be an increase in the headcount in most of sectors in the range of 6-30%.IT & Digital and Business Development/Sales are the functions that companies in most of the sectors would hire for.