The Chinese zodiac says 2025 will be the Year of the Snake, associated with flexibility, growth and change. India Inc is expected to see it all happen as employees will scout for jobs at a quicker pace than the last couple of years. Companies will have to go beyond compensation hikes and look at upskilling their talent with the promise of newer roles if they want to retain their performers.
"Our hiring outlook remains positive in the medium term, especially in high-demand skills such as AI/ML, data science/analytics, IoT, ESG, cloud and digital transformation, while we continue to have aggressive plans to hire in 2025 on the back of strong demand across all our business," said Reena Wahi, partner and head of people, performance and culture, KPMG in India.
While a larger part of 2025 will remain an employer's market, those who manage to get the skillsets in demand are expected to command a premium price during a job shift.
"IT and Global capability centres will see an uptick in the attrition numbers," said Aditya Narayan Mishra, chief executive officer of CIEL HR Services, a staffing firm. "There is also a demand for junior investment bankers at companies headed for listing on the bourses is expected to increase."
India saw a record mop-up of about ₹1.8 trillion in 2024 through initial public offerings (IPOs), according to data collated by Motilal Oswal Financial Services. Analysts expect the momentum to continue well into 2025.
Over the last couple of years, the fast-moving consumer goods (FMCG) segment has seen cyclical hiring and rural consumption is expected to propel the pace of recruitment in 2025. To be sure, demand for goods is likely to remain subdued next year as high inflation hurts real incomes, eroding consumer confidence, market research firm Kantar said in its outlook for 2025.
This story is from the December 30, 2024 edition of Mint Bangalore.
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This story is from the December 30, 2024 edition of Mint Bangalore.
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