New Delhi: After mostly disappointing trends in 2013, the job market is looking at promising prospects in the new year and experts believe that the worst may be over on hiring front and the employees can even look forward to double-digit salary hike of at least 10-12 per cent in 2014.
Notwithstanding the continuing impact of glo-bal macro-economic situation and the concerns surrounding India, be it elections or economic slowdown, most of the experts and HR consultancy firms are unanimous that recruitment outlook for the country in 2014 looks bullish.
The sectors that are likely to drive the job market include IT, healthcare, education, development sector moreover the new retail banking licences are also expected to give a decent hiring trend in 2014.
“Overall looks like the worst is over for the job market and we are ente-ring a zone of another 2-3 years of positive growth if not more,” NaÂukri.com Business head V Suresh said.
Echoing similar sentiments, TeamLease ServÂices senior vice president and co-founder Sangeeta Lala said “in 2013, hirings went slow across mid and senior levels, recruitments weÂre done only to rep-lace ‘key’ gaps. HoÂwever, 2014 seems proÂmising and many are forecasting eleÂctÂions to bring us out of this grey guessing phase.”
In 2013, the job market in India was not driven by global economies, it was more domestic in nature and there was a cautious optimism among employers as hiring was more specific and need based.
“Companies wanted a clear ROI on every hire, quality triumphed over quantity, selection ratios increased, candidates who could hit the road immediately were preferred, negotiations were hard and long drawn, bonus packages were measured,” Lala said.
