Mumbai: Three in five employers in India say they will be increasing their headcount in 2017, according to the latest Salary and Employment Outlook by global recruitment specialists Michael Page. In the current global environment, India is only bright spot in global labour market. Employment market enjoyed in India remained a good year largely unaffected by the global economic slowdown in 2016, and 80% of employers in India are confident hiring activity will remain steady in 2017.
The Michael Page India Salary and Employment Outlook 2017 has surveyed more than 300 companies and employees surveyed across India. The report mentioned that nearly 88% of employers are offering 6 to 15% pay increments in the next 12 months while nearly 51% of employers are expected to give bonuses in the range of 6 to 15%. 83% of employers say diversity and inclusion is a priority and have active workplace programmes in place.
“We have observed a positive outlook on companies’ employment forecast in India. With new orders coming in from overseas firms seeking to utilise India’s vast resources and labour pool, more foreign companies are investing in the manufacturing, infrastructure and renewable energy sectors. This is driving demand for specialist skill sets and professionals with both the technical expertise as well as the right cultural fit,” said Sebastien Hampartzoumian, Senior Managing Director, Page Group Singapore and India.
Intense market competition and the shortage of highly qualified candidates in the growing Indian economy has resulted in a growing talent crunch. Hence, attracting and retaining talent should be the key areas of focus for employers. According to the survey career progression (79%), salary increments (56%) and learning and development programmes (40%) are the top three factors in talent retention. The survey revealed that nearly, 44% of employees will leave their jobs due to limited career progression.
Flexible working hours (55%), providing and allowing work from home and remote access to work (47%) and better staff welfare benefits (42%) are among the most popular work-life balance policies.