A survey by Teamlease Services says that metropolitan cities such as New Delhi, Mumbai, Hyderabad, and Bangalore are set to drive job creation in urban areas. This will help boost economic growth as India recovers from the second wave of the COVID-19 pandemic. The survey was based on data collected from 168 companies.
Sales and technology jobs are in high demand in these metro cities. While staffing depends on business requirements, Teamlease said that the pay disparity between permanent and skilled temporary jobs is narrowing. About pay parity, the survey said, “The variance between salaries for permanent and temporary job profiles is down to less than 5% in case of nearly 30% of all profiles across all sectors.”
The Indian economy has taken a massive hit over the summer as the second wave of the pandemic hit. Vaccinations are picking up pace now, but since the reach of vaccinations is high in major cities, the revival will happen faster there.
The annual jobs trend survey says that healthcare, edtech, e-commerce and information technology (IT) have remained largely unaffected by the pandemic. Sectors such as finance, insurance, banking, telecom, manufacturing, and engineering are set to revive quickly. On the other hand, the fast-moving consumer goods (FMCG) and fast-moving consumer durables sectors will take a few months to recover. The hospitality, retail and lifestyle sectors will take relatively longer to recover.
“High expertise-based job profiles have steadily grown in criticality over the last 12 months and are seen by employers to be indispensable. These attract around 11% salary increment or more as compared with market averages ranging between 1.73% and 14.07% across sectors and cities,” the survey also said.
The sectors where remuneration growth was better than the rest in the previous financial year have been banking, financial services and insurance, healthcare and allied industries, information technology (IT) and knowledge services. New Delhi saw a good recovery in salaries in the health and pharmaceutical sectors among the cities, and Bangalore saw banking and financial services grow faster.
There were 17 sectors surveyed in total. The survey also noted the addition of new job profiles. In e-commerce and tech startups, profiles such as ‘merchant relationship executive’ and ‘team lead inside sales’ have been added. In the health and pharma industry, profiles such as ‘commercial coordinator’ and ‘distribution support’ were added.
For any clarifications/feedback on the topic, please contact the writer at firstname.lastname@example.org
I’m a Chartered Accountant by profession and a writer by passion. ClearTax lets me be both. I love travel, hot tubs, and coffee. I believe that life is short, so I always eat dessert first. Wait.. life is also too short to be reading bios… Go read my articles!