Predicting growth avenues across industries in 2019
TRENDS Bangalore, Mumbai, Delhi, Chennai and Hyderabad have emerged as top cities in terms of hiring while manufacturing, It/software and BPO/KPO are key growth industries
Shine.com, the second-largest online j ob portal i n I ndia, recently projected growth areas in the hiring sectors for 2019 while charting hiring trends in 2018. The tech-driven job search platform leveraged its vast pool of data collated over the past year to map the Indian hiring landscape, focusing on key growth regions and functional areas across industries.
Somewhat unsurprisingly, top metro cities such as Bangalore, Mumbai, Delhi, and Chennai have retained their dominant positions as the regions with the highest talent demand. However, emerging cities such as Hyderabad, Pune, Kolkata, and Ahmedabad also staked their claim as regional job hubs, having performed exceptionally well in terms of hiring in 2018.
In fact, on the back of its burgeoning IT sector, Hyderabad broke through into the top 5 cities for hiring in the past year. According to Shine.com’s estimates, the growth trend witnessed across tier-2 cities can be attributed to the sprawling Fmcg/consumer durables, pharmaceuticals and healthcare, and energy and renewables sec- tors in these geographies.
An industry-wise demand analysis highlighted that It-software, BFSI, manufacturing and BPO/KPO, which were the most active recruitment sectors in 2017, continued to hold top positions in 2018 as well. Within the IT/ software sector, job requirements have increased across areas such as data science, artificial intelligence, cybersecurity and progressive apps. While job positions are on the rise, major upskilling is required for professionals to take up these roles. Widespread technological uptake in the BPO/KPO sector has made for increased job creation and this trend is bound to continue in 2019 as well.
As more manufacturing plants are set up in India, new jobs will be created in Tier 2 and 3 cities where these manufacturing plants are typically located. Finally, the rise of Fintech firms, mobile wallets, and numerous payment apps has ensured the steady growth of the BFSI sector, which will also retain its spot in the highest job creating industries in 2019. Emerging industries that show an increase in hiring in
2019 also include education and healthcare. Numerous tech startups in these two sectors were launched in 2018, propelling growth and job creation in 2019 as well. In an interesting development, significant acceleration in hiring was witnessed across previously sluggish industries such as engineering and construction, which entered the top 10 list in 2018. According to the report, increased hiring across the engineering and construction domain in tier-2 areas can be ascribed to infrastructural advances.
In terms of functional areas
It/software, customer service, banking and finance, and production emerged as the top functions in 2018. As an increasing number of organizations embrace technology to boost growth, It/software has become the most sought after job role across industries. Furthermore, an increase in startups in the Fintech sector has led to unprecedented growth in the BFSI industry. As India progresses towards becoming the world’s youngest workforce, the production sector is receiving a significant boost. In fact, India is projected to become a manufac- turing hub over the next few years. Speaking on the dynamic trends, Zairus Master, CEO – Shine.com, said, “A greater focus on technology, across industries, has caused significant growth in the hiring domain in the past year. We have witnessed accelerated growth in sectors such as healthcare and BFSI, with players i n t he domain quickly embracing innovation and evolving their processes. In 2019 and beyond, we are expecting to see the top hiring cities including Bangalore, Mumbai and Delhi to retain their top positions. How-
ever, we won’t be surprised if Tier 2 cities such as Indore and Jaipur take prime positions over the next few years. Furthermore, it is heartening to see the education and training sector picking up pace, as professionals gear themselves up by picking up new skills for technologically-advanced job roles emerging across IT and non-it sectors alike. We expect our Shine Learning business to also benefit from this trend”
As industries continued to gain scale on the back of increased technological deployment, a steady increase was seen
in hiring across sales and business development functions as well in 2018. Additionally, with more and more professionals focusing on upskilling themselves for new-age job roles, the education, training, and language sector registered a significant uptick in 2018 as well. Industry experts are anticipating accelerated hiring across all current high-growth domains in 2019. These future trends, without a doubt, will be majorly influenced by large-scale technological uptake and the changing nature of jobs across all industries.