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53% Indian cos to hire more, 60% to give increments: Report

Maximum increments will be paid out in the technology and healthcare space in 2021 says a report by Michael Page India

Source | | HRK News Bureau

While the pandemic led to a dip in hiring activities by 18 per cent in 2020, across India, things seem to be looking up in the New Year. About 53 per cent of companies in India are gearing to increase their headcounts in 2021. That is not all, 60 per cent of the employers plan to provide increments and 55 per cent intend to dole out bonuses.

Companies in the healthcare space will give out the biggest increments at an average increase of eight per cent, followed by FMCG at 7.6 per cent and e-commerce/internet services at 7.5 per cent. With the rapid advancements in technology across sectors in the country, especially in the SaaS, health-tech, ed-tech and gaming industries, the demand for experts in artificial intelligence (AI) and machine learning (ML) has gone up.

According to the ‘Talent Trends 2021 Report’ published by professional recruitment services firm, Michael Page India, a hybrid work culture will be the focus across sectors. Nicolas Dumoulin, MD, Michael Page India, shares, “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.”

A significant 74 per cent of technology firms in India expect a 14 per cent spike in headcount. If the candidate is suitable and a perfect fit, most organisations are willing to hire from any location, allow remote working and high levels of flexibility.

About 75 per cent of those employed anticipate looking for new job opportunities, while another 22 per cent continue to be open to new roles in 2021.

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