As most of us are well aware, the year 2017 was a very crucial one in the job market. With an impending recession doing the rounds, many people across verticals and horizontals were at a risk of losing their jobs. The situation was even worse for freshers and others who were looking forward to getting back to their career after a break. However, on a positive note, by the last quarter of the year, the global economic scene started to stabilise and that in turn led to a shortage of candidates in many sectors. This is what is dictating the top hiring trends of 2018.
By the beginning of 2018, the nation had recovered from the after-effects of demonetisation (and all of us know that infrastructure was the sector that was most affected). As a consequence, there was a rapid surge in jobs in this sector. With states like Gujarat and Delhi reporting a 18% average increase in the investment in the infrastructure sector, enormous hiring is being noted in this sector.
The National Highway Authority of India is expected to increase its hiring by over 5% as compared to that of 2017. On a similar note, major hiring in this sector is expected to come from that of public-private partnerships like that of Delhi Metro or Namma Metro.
An interesting aspect of hiring in the infrastructure sector is the fact that this is one place that requires both skilled as well as unskilled labour. Thus, the hiring trends in this sector play a major role in the lives of all strata of the Indian society.
• Information Technology
Post Brexit and the US general elections, this sector saw a major surge of NRIs returning back to the country. This created an excess of talent as compared to the number of jobs, thereby, resulting in an imbalance that dictated a declining hiring pattern in 2018. In addition to that, a number of major IT firms lost their clients due to the changing global political scene.
As a result, hiring in this sector saw an all-time low in 2018. Many people at managerial posts of major IT firms lost their jobs and are still struggling to land themselves with better jobs. The bleak hiring trend in IT is responsible for a majority of engineers, who graduated in 2017, not getting jobs in this industry in 2018.
• Business Process Outsourcing
This is one more industry that was affected by the political situations of the West. However, on a positive note, the effect on this sector is not that bad. With the government offering more special economic zone (SEZ) land, more and more companies are setting up their offices in India. This has resulted in a magnanimous increase in number of recruits.
As an extension of this service, medical transcription and legal transcription are also sectors wherein new job opportunities are coming up. The increase in the number of recruits is a proof that the central government's endeavours of Digital India is finally bearing fruit in 2018 and educated youth across diverse educational backgrounds (the range of which is from a higher secondary degree to a master's degree in law) are finding employment in this sector.
The hiring in the manufacturing sector is something that has grown exponentially in the last few years and as of 2018, the scene looks very promising. The cottage industry and small-scale manufacturing industries are a major source of recruitment for skilled labour.
With initiatives like Make in India doing the rounds, a number of start-ups are being encouraged to take up small-scale manufacturing. Although each of these start-ups hire only a few people at a time, the cumulative effect of all of it is the fact that a huge number of the country's youth finds itself employment in manufacturing.
Things like automation also paved the way for further research and development in the field of product development. With the Union Budget making decent allocations for the same, new job opportunities are coming up and the payment for people working in this sector is also high as compared to those with similar experience in other sectors.