In the new year, a mixed bag of opportunities is likely to greet job aspirants as telecom and services-oriented sectors are anticipated to accelerate hiring after recent pink slips in the technology segment amid global economic turmoil.
Short-term opportunities will be on the rise and companies will focus on building a work-life integrated culture, nurturing niche talent, enhancing skills, and providing flexible work arrangements, experts opined.
Experts also said one of the major recruitment trends of 2023 is expected to be companies looking to boost the internal mobility of talent.
After 2022, especially the second half, with reports of mass layoffs and hiring freeze amid the pandemic-related business disruptions, experts said it is not going to be all gloom and doom in 2023.
According to staffing firms and job portals, it will be a mixed bag for the Indian job market next year.
Amid subdued tech hiring, some of the non-tech hiring, especially in telecom and service-oriented sectors has gained pace and is set to drive the recruitment momentum in 2023, they said.
Recruitment services firm TeamLease Services’ report has said India’s hiring sentiment for the services sector stands strong in the March quarter.
This year, different trends emerged in the employment market, including the emphasis on reskilling and upskilling initiatives. And these trends are expected to continue in 2023 as well, with companies willing to pay a premium for relevant skills as compared to legacy skills.
While the hiring in the tech industry was 18 percent lower (Naukri Research) as compared to October last year, the New Year is not expected to bring any more revolting shocks as organizations seem to have made critical decisions already.
The focus now will be on creating a slow but impactful pipeline and here nothing will reward candidates as handsome as investing in core skill development,” Achal Khanna, CEO – of SHRM (Society for Human Resource Management) India, APAC & MENA, said.
The Indian job market is facing some heat, especially in IT services, after Meta, Twitter, Microsoft, Snapchat, and many other tech firms announced massive job cuts amid recession fears.
The IT sector hiring is expected to move in the slow lane, impacted by macro uncertainties and experts believe that future additions will be limited as companies have adequate bench strength and will focus on re-skilling the existing workforce.
“The ongoing global turmoil with mass layoffs, hiring freeze, and impending recession have significantly affected the services sector globally, especially the IT industry. However, the sentiment in India continues to be on an upward trajectory, with 77 percent of employers indicating a higher hiring outlook,” Mayur Today, Chief Business Officer at TeamLease Services, said.
