Over 50% of firms eye pay hike, bonus
Technology and healthcare will lead job creation in 2021 while internet-based, e-commerce and edu-tech ventures may also ramp up recruitment in India, as per a Michael Page report.
As per the global professional recruitment consultancy’s report titled Talent Trends Report 2021, as much as 60% of employers intend to raise salaries while 55% of the companies plan to give out bonus payments.
As much as 53% of firms are planning to increase headcount this year of which 74% are technology firms that are expecting to increase headcount by 14%.
About 68% of e-commerce firms in India expect a 12% increase in headcount, and 44% of property and construction companies expect headcount to increase by 10% in 2021.
The healthcare sector may see the largest percentage rise in salary at an average increase of 8%, followed by FMCG (7.6%) and e-commerce/internet services (7.5%), as per the report.
Despite job security being a significant concern, especially during the pandemic, 75% of those employed anticipate looking for new job opportunities, while 22% remain passively open to new roles in 2021, thus indicating a robust recruitment scenario, according to the report.
Quoting the report, Nicolas Dumoulin, Managing Director, Michael Page India, said increased demand for hiring at the leadership level in private equity, venture capital, as well as other asset classes on buy-side like credit/distressed, hedge funds, public markets and impact funds, was seen, and this trend would continue in 2021.
Over 5,500 businesses, across sectors, and 21,000 staff, including over 3,500 CXOs, were part of this study conducted in the Asia-Pacific, including India.
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