Business

India to see strong hiring activity in 2019 as AI, machine learning to drive job opportunities, says report

Updated : January 23, 2019 06:23 AM IST

Hiring activity in India is expected to thrive in 2019, said a India Salary Benchmark 2019 report released by Michael Page.

High demand for individuals with experience in new age technology such as AI, IoT, machine learning and blockchain, the report said.

India to see strong hiring activity in 2019 as AI, machine learning to drive job opportunities, says report

Hiring activity in India is expected to thrive in 2019 as artificial intelligence (AI), big data, machine learning and data science will rive top job opportunities, said a report by global professional recruitment consultancy Michael Page.

The salary benchmark 2019 report released by Michael Page said that recruitment activity in the technology sector will grow significantly than before with the new chief technology officer and chief information officer roles, the report said.

Technological progression across industries has led to an increased demand for analytics professionals as organisations make more data-driven business

decisions, it added.

There will be an increased demand for Indian senior executives equipped with business and stakeholder management experience, the report said

“Movement among senior level professionals can be attributed to the growth of India’s industries and the availability of talent. This explains the key employment activity within the mid and large manufacturing organisations specialising in chemicals, building materials as well as domestic consumer companies,” said Nicolas Dumoulin, managing director, Michael Page India.

He explained that India has a huge pool of strong leaders due to the rise in market growth. However, due to the increased pace of market

growth, this has given rise to an acute shortage of available talent at this level.

"The limited candidate pool has driven up the cost for senior talent over the years. Professionals moving jobs at this management level can expect 20 to 25 percent increases on their compensation package, ” Dumoulin added.

Michael Page India also said that consumer-facing sectors such as pharmaceuticals, FMCG and e-commerce will see growth.

The report also said the government's 'Make in India’ programme will drive jobs in the sector in this year.

Hiring Trends

Banking and financial services

NBFCs and private banking platforms will require experience in SME lending,
affordable housing and senior relationship management.

Global investment firms are focused on expansion opportunities across private equity and for new products such as credit, special situations, real estate and infrastructure.

Healthcare and life sciences

Multinational pharmaceutical companies consolidating procurement by setting up globally shared service centres.

Increased gender and industry diversity demonstrated through changes at the leadership level and from other industries such as FMCG, retail,
telecommunications and Ecommerce.

Professionals securing a new role can expect 20 to 25 percent salary increase.

Technology, digital and analytics

High demand for individuals with experience in new age technology such as AI, IoT, machine learning and blockchain.

Technological progression across industries has led to an increased demand for analytics professionals as organisations make more data-driven business
decisions.

The niche areas of demand in the digital space include computer vision, natural language processing (NLP) and speech analytics.

Human resources

Demand for HR experts to implement solid onboarding policies with a robust
framework that includes training and induction to increase employee retention.

Increase in hiring for senior professionals within Indian organisations and startups.

Average salary increases of 15 to 18 percent observed when professionals secure a new role.

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