Kulshrestha says hiring competition to intensify alongside recovery
While the COVID-19 pandemic continues to impact hiring and recruitment trends across India, sustained demand for skilled talent is expected from the healthcare and technology sectors that have surged to the forefront over the last year.
These are some of the findings from RGF International Recruitment’s ‘Salary Watch 2021: India’, an annual report conducted with the aim of better understanding salary trends across all industries and job levels in India.
The report presents a comprehensive analysis of salary data collected on more than 19,000 candidates in India and provides projections and benchmarking to help employers and employees make informed decisions on compensation.
According to the report, the boost in demand for healthcare services and pharmaceutical production has spurred a rise in compensation for talent with experience in regulatory affairs (increments up to 8%), medical areas (7%) and production & operations (7%). Senior personnel and R&D talent across industries are also expected to see higher increments (7%), corresponding with the urgent need for experienced professionals with the skills to provide overall direction in this time of change.
The pandemic has also led businesses across sectors to consider digital strategies to cope with challenging conditions. From Fintech to healthtech and ecommerce, companies of all sizes continue to undergo digital transformation to bring much-needed services to customers in need, such as payments, medicines, and groceries. Tech talent employed in roles like software development, artificial intelligence, robotics and data science are expected to command some of the highest salaries in the region, averaging between 50 and 80 lakh INR per annum and salary increments up to 40% when changing jobs.
“Hiring the right talent will play a crucial role in India’s ability to not only tackle the current challenges of the pandemic, but also recover from them for the longer term. However, hiring competition is expected to intensify alongside recovery, which means that employers in vital industries like technology and healthcare must either hire proactively or be prepared to offer higher compensation packages for the right talent,” Sachin Kulshrestha, Managing Director, RGF Professional Recruitment India, said in a release on 9 June 2021.
“For the longer term, companies must also focus on upskilling their talent to build up valuable long-term capabilities that can help future-proof their operations against any crises to come,” said Kulshrestha.
RGF’s Salary Watch: India report has been conducted with the aim of better understanding the salary trends and data across all industries and job levels in India. This report is based on RGF owned talent pool covering close to 20,000 candidates (collected from April 2020 to April 2021).
As the global brand of the Recruit Group, RGF, abbreviated from Recruit Global Family, is committed to delivering total human resource solutions of superior quality so individuals and companies of all sizes realize their full potential. #technology #economy #talent #employment #health /fiinews.com
