Whats Store in 2023?
We have seen massive layoffs and Pink slips in the second half of the year’22 in the technology segment due to the global economic turmoil. As per industry experts in the year ’23 the hiring trend in IT sector will be slow but it shall bring us a mixed bag of job opportunities where telecom and service sector shall accelerate its hiring spree. Many short term opportunities shall be created by companies and the focus will be to have culture of a perfect blend between work responsibilities and personal responsibilities, nurturing talent and enabling each employee to play to their own strengths by offering the appropriate training and opportunities, enhance skills of the talents and provide flexible work arrangements. The year’23 is not expected to be a year of gloom and with the launch of 5G services that have triggered more job creations in the telecom sector adds to the positivity.
The healthcare industry is one of the most lucrative industry just behind agri, agritech and food but ahead of BFSI, Financial inclusion and finTech
The hiring intent in the telecom sector tend to be on the rise and it will be one of the game changers in the industry improving its overall health. 5G will not only create employment opportunities in Telecom sector but also create opportunities like the manufacturing Engineering, IT, financial services and more. The EV makers and the related industry shall add to the hiring spree in 23 as the companies are looking forward to add to their capability enlargements and new product launches. Government has its continued focus on green mobility and has laid plans to encourage its electric mobility mission by creating a specialized workforce. They aim to create 10 million jobs with the launch of special programs where they look forward to provide skilled and specialized workforce to the EV industry. As the green energy sector grows so job creation in this sector is also on a growing trajectory. This sector looks forward to add around 89000 jobs in India by 2023, hinting at a promising future for the sector in the coming years. “A separate study by the International Renewable Energy Agency (IRENA) said that the overall jobs in renewable energy are increasing around the globe, including in India. The report said that countries such as the United States and India added record amounts of their solar capacities. India was ranked third in total addition of solar capacity after China and the United States. The report added that India’s on-grid solar systems have an estimated 1,37,000 jobs, while the off-grid systems have around 80,600 jobs”.
The healthcare industry is one of the most lucrative industry just behind agri, agritech and food but ahead of BFSI, Financial inclusion and fintech. Post-COVID-19 Government has put the healthcare and related industry at its top most priority. We see a lot of investment in this sector as the pandemic has bared the fault in our healthcare infrastructure and now many investors and entrepreneurs are investing into it to convert the crisis into an investment opportunity. This sector alone looks forward to create job opportunities of around 20 million by 2030. The governments reforms to boost local manufacturing have created many jobs in this sector and more than 60 percent of the employers are looking forward to expand their manufacturing units and add talents in the first half the year 2023. Travel and hospitality industry which was worst hit by pandemic has bounced back and the hiring trends in India in this sector have showed a strong growth. The retail, FMCG, healthcare, insurance, accounting finance, BFSI and education industry will also be one of the top hirers in the year 2023.
Apart from this many new sectors have emerged as important drivers of employment and growth in recent years. Online tutoring, Adaptive learning and language learning have picked up pace due to the rising demand of high quality of education level. The sector shall continue to hire in the year and add keep on adding resources. We anticipate a brighter 2023 where the recruitment strategies will also change, and companies will be more focused on hiring quality candidates and up skilling and retaining the performing ones. Workforce planning will be important and employee value proposition where the call is 'Our people is our Greatest Asset' shall help companies re imagine the employment experience and modify it for the new environment.