Recruitment Trends - Jan 2018 Edition

Posted by:   Mahak Kewalramani Date:Jan 04, 2018

Recruitment News

Market News, Trends & Predictions 

Media and Entertainment companies to add 8 lakh jobs by 2022 
The media and entertainment (M&E) industry is likely to add 7-8 lakh new jobs by continuing to register a strong double-digit growth of 11-12 per cent over the next five years. With the rising consumer demands, changing business models and digital disruptions, a study conducted jointly by CII and BCG has highlighted the need for the industry to prepare itself for a completely different workforce. 
Source: Deccan Chronicle; 4 Dec, 2017 

Media and Entertainment companies to add 8 lakh jobs by 2022 
The media and entertainment (M&E) industry is likely to add 7-8 lakh new jobs by continuing to register a strong double-digit growth of 11-12 per cent over the next five years. With the rising consumer demands, changing business models and digital disruptions, a study conducted jointly by CII and BCG has highlighted the need for the industry to prepare itself for a completely different workforce. 
Source: Deccan Chronicle; 4 Dec, 2017 

AYUSH industry may create 26 mn jobs by 2020: Prabhu 
The AYUSH industry is expected to grow in double digits and provide direct employment to 1 million people and indirect jobs to 25 million persons by 2020, Union minister Suresh Prabhu said today. The government is eyeing a three-fold increase in the AYUSH sector by 2022. AYUSH stands for traditional systems of medicine and healthcare such as Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy. 
Source: India Today; 4 Dec, 2017 

Private equity calling the shots on hiring in portfolio firms 
Private equity has come a long way in the country, from fund management and investing to micro managing businesses, and their influence is not limited to the CXO level but increasingly extend to senior and middle management. PE funds are extensively engaged in hiring mid-senior to CXO level talent for their portfolio companies, industry insiders said. 
Source: Economic Times; 4 Dec, 2017 

Jobs & career: How severance pay packages can be a deal-breaker 
Senior executives reject more than 25% job offers on average due to unsatisfactory severance pay packages included in the monetary component, reveals a study of 100 C-suite searches carried out by search firm BTI Consultants. E-commerce leads the sectors in severance payout. E-commerce, being a relatively new sector, has higher business uncertainties.
Source: TechGig; 5 Dec, 2017 

Hiring sentiment strengthens for Q1 of 2018 from previous quarter 
Hiring sentiment in India for January-March 2018 has strengthened marginally from the previous quarter, according to the latest Manpower Employment Outlook Survey which tracked 4,905 employers across industries. With 24% of the employers forecasting an increase in staffing levels, 3% expecting a decrease and 57% anticipating no change, the net employment outlook stands at +21%. 
Source: Economic Times; 12 Dec, 2017 

By 2022, 9% Indians will be in jobs that do not exist today: Report 
Indian job landscape is in transitionary phase, thanks to emerging technologies and by 2022, 9 per cent of the country's 600 million estimated workforce would be deployed in new jobs that do not even exist today, says a report. 
Source: Business Standard; 13 Dec, 2017 

Bitcoin bug bites jobhunters as enquiries double 
As bullish Indians buy into the Bitcoin boom, despite the recent volatility, the cryptocurrency craze is spilling over into the employment market as well. Jobs related to the industry have soared by over 50% in the past year, coupled with a doubling in enquiries from jobhunters wanting a piece of the action. 
Source: Economic Times; 23 Dec, 2017 

New-age education companies are luring top talent with crore-rupee packages 
New-age education companies are hiring aggressively to lure top talent (CXOs) with packages touching a crore, inclusive of variables and stock options. At least 20 CXO searches are lined up in the next few months in this emerging sector, confirmed education technology (ed-tech) companies and search firms. 
Source: Economic Times; 26 Dec, 2017 

25% jobs in BFSI to face existential threat by 2022, says report 
According to the FICCI-Nasscom and EY – Future of Jobs – report, by 2022, 20-25 per cent of existing jobs in banking, financial services and insurance (BFSI) sector will face existential threat, while 15-20 per cent of workforce in the sector would be deployed in new jobs that do not exist today. 
Source: FICCI; 29 Dec, 2017

Employee News 

Gender diversity initiatives not effective: Survey 
India Inc.’s gender diversity initiatives are failing to make a mark. While most companies have inclusive policies in place such as career advancement and fair deals for women returning to work after breaks, they don’t have a real impact, according to a survey by professional services firm BCG. 
Source: Economic Times; 5 Dec, 2017 

Pay hikes may get fatter in 2018 after trimming of jobs in 2017 
India Inc is promising better pay hikes of 10-15 per cent for the right talent in 2018 after a challenging year for the job market, stunned by post- demonetisation layoffs in traditional sectors like textiles and due to the advent of artificial intelligence in new-age ones. The catch would be 'right' talent which HR experts broadly define as those who are able to re-skill themselves as per the changing work profile requirements. 
Source: Economic Times; 10 Dec, 2017 

Employee job satisfaction looks up in 2017 
The percentage of employees dissatisfied with their jobs has dropped by 15% in 2017 from 60% in the previous year, reveals the TimesJobs Job Satisfaction survey 2017-18 of over 2,200 working professionals. 
Source: Economic Times; 12 Dec, 2017 

Women directors at top firms paid 46% less than their male counterparts 
India's leading women company directors, who top various power lists, are not as well paid as their male counterparts, according to an examination of FY17 annual reports by ET. That wage gap comes on top of the already poor representation of women on boards and their absence from key committees, despite government and regulatory efforts in this regard. 
Source: Economic Times; 17 Dec, 2017 

Huawei hands out pink slips to 30% of India workforce in 2017 
Fierce competition, consolidation and financial stress in the Indian telecom industry forced Chinese telecommunication equipment and services company Huawei Technologies to trim its workforce in India by a third, according to the report published in The Economic Times. The report said the company laid off almost 30 percent of employees in 2017 due to decreasing telecom business, network shutdown and performance review. 
Source: Money Control; 26 Dec, 2017 

Why 2018 could change your office life forever 
In his HR predictions for 2018 , Bersin is gung-ho on the likes of Amber - an Artificial Intelligence (AI)-powered chatbot built by Gurugram-based startup Infeedo, which helps CEOs keep track of the mood of employees in real time and take action before things get out of hand. "For many years the focus on HR technology was online payroll, record-keeping, learning management etc.," Bersin writes. But in 2018, "feedback, engagement, and analytics tools will reign". 
Source: Economic Times; 27 Dec, 2017


Recruitment Industry 

Inactive on social media? 57% of recruiters will not hire you 
A recent survey shows that 17 per cent of recruiters might not hire a candidate who is too active on social media. But it's worse if the candidate's invisible online: The survey found that 57 per cent wouldn't hire a social media ghost. 
Source: Times of India; 3 Dec, 2017 

Internshala Launches Initiative To Help Women Resume Work After Breaks 
Internshala, the internships and online training platform, has launched an initiative titled 'Internships for Women' campaign to help women restart their career after a break. In India, about 65-70% women who take a career break fail to return to work, and many women who are well educated and have potential to become a valuable part of the workforce do not even get a chance to begin their career. 
Source: NDTV; 11 Dec, 2017 

India Inc looks at talent from outside core business 
The trend of companies looking for talent outside their core industry has gathered pace over the last three years. Antal International India MD Joseph Devasia said companies believe candidates from outside their own industry bring in a different perspective. "Nearly 25% of candidates we have placed are not from the client's industry. Most of these candidates come with niche skill sets that are not easily available in every industry," said Devasia. 
Source: Times of India; 18 Dec, 2017 

Job aspirants explore flexible career opportunities: Report 
More and more job seekers in India and other parts of the world are looking for "flexible career" opportunities and getting inclined towards work from home option, says a report. An annual study undertaken by Indeed globally noted that Indian job seekers put flexibility at a premium with searches for work from home increasing 111 per cent in 2017. 
Source: Business Today; 25 Dec, 2017 

Vodafone, Idea Cellular hire expert to pick key executives 
Vodafone India and Idea CellularBSE -3.43 % have roped in leadership management company Spencer Stuart to shortlist senior cadres who will play major roles in the combined entity, in a clear signal that the two telcos expect the merger, which will create the country’s largest carrier, to close soon. About 100 senior management staff from each of the companies are going through a fitment test, with the aim of seeing if they are suited for the merged company. 
Source: Economic Times; 26 Dec, 2017

Leadership Movements in HR & Talent Acquisition 

IDFC Bank’s Ajay Pandey to join L&T Finance 
Ajay Pandey, who quit IDFC Bank as the senior director-HR, is all set to join the HR leadership team at L&T Finance Holdings. Headed by Dinanath Dubhashi, who’s the MD & CEO at L&T Finance Holdings, the Company is looking at strategic restructuring and hiring, and Pandey is a significant move towards strengthening the HR function. 
Source: HR Katha; 5 Dec, 2017 

Sharad Sharma joins DHFL Pramerica as SVP & head-HR 
A seasoned HR professional with over two decades of experience spanning domestic and international firms, Sharad Sharma has just joined DHFL Pramerica Life Insurance as the SVP & head HR. His previous stint was with SBI Card, where he was the EVP & chief people officer and headed HR for GE’s BPM unit and the HR function for the Credit Card JV between GE Capital & State Bank of India. His decision to move came soon after GE’s exit from the business. 
Source: HR Katha; 11 Dec, 2017 

Rahul Varma elevated as senior managing director-talent at Accenture 
Rahul Varma, who has been leading Accenture’s talent organisation, as the talent and learning officer, has now been re-designated as the senior managing director – talent. His role has been focussed on the mission of discovering, inspiring and nurturing exceptional people in Accenture. 
Source: HR Katha; 28 Dec, 2017

Campus Buzz 

Long queue of foreign firms in campus placements at IITs this year 
The list of international recruiters at IITs is longer than last year, signalling that the war for talent is more intense at the country’s premier engineering schools. Besides Microsoft and Uber, US-based Rubrik and Indeed, Singapore-based Dynamic Technology Lab, Amsterdam-based Optiver and UK-based Halma plc, along with several firms firms including WebStaff, Mercari and Hitachi Seisakusho. 
Source: Economic Times; 2 Dec, 2017 

Microsoft picks 4 graduating IITians for Rs 1.3 crore 
Four students were picked by Microsoft Redmond for around Rs 1.39 crore. NEC Japan, which picked seven students gave a package of 45.7 Japanese Yen. First-time recruiter from the Powai campus, Rubrik, picked three students and Palantir Technologies picked one candidate. 
Source: Times of India; 3 Dec, 2017 

Asian recruiters go big on tech talent and youth factor, beat US companies at IITs 
Asia appears to have pulled ahead of US in the battle for talent at the Indian Institutes of Technology (IIT) placements, with the bulk of international offers coming from Japan, Taiwan, South Korea and Singapore. This — and the fact that Microsoft has made more US offers than last year — has led to a spurt in overall overseas placement offers, despite big-ticket recruiter Oracle not hiring for US roles this year. 
Source: Economic Times; 5 Dec, 2017 

College placements give IITs, IIMs run for their money 
Average salaries have risen in colleges including Hindu College, Shri Ram College of Commerce (SRCC), St Xavier’s College in Mumbai and Loyola College in Chennai, according to placement officials. The number of offers has risen as well this year in the season that began in August at some colleges and will run intermittently till the end of the session next year, they said. 
Source: Economic Times; 7 Dec, 2017 

IT wave at IITs: Tech firms are season’s top recruiters 
Placement 2017 has been about IT companies indulging in bulk hiring. On most campuses, tech firms have emerged as the largest shoppers for talent. Each company has identified its favourite college and picked up a large number of graduates—a throwback to the IT boom era. 
Source: Times of India; 7 Dec, 2017 

Only 20% students from B-schools land job offers: Assocham 
Business schools are struggling hard for placements with only 20 per cent students landing job offers, making this placement year the most challenging in recent times, according to Assocham. The chamber observed that job opportunities for business school (b-school) students are drying on account of factors like demonetisation, lacklustre business sentiment and stalling of new projects. 
Source: Business Today; 11 Dec, 2017

Humour in Recruitment

Results of December Poll January Poll

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