New Delhi: Financial Inclusion being the agenda of the government, the BFSI (Banking, Financial Services & Insurance) sector will expect to create considerable number of job opportunities. With the issuance of new licences and efforts being made by the RBI and the Government to expand financial services into rural areas, the job opportunities in this sector are expected to increase significantly.
This year BFSI sector will see job spurt with increase of 24% in hiring this year in comparison to last year which was 20% & add 2.2 Lacs number of jobs this year. This is as per India Skills Report 2016, a joint initiative of PeopleStrong (PeopleStrong is India’s leading human resource (HR) solutions and HR technology company, enriching experience of over 175+ corporate customers and over 500,000 users.),
Indian HR has finally arrived. After a delayed and much anticipated debut on the world HRO stage awaited for the past 5 years, India’s HR and HRO story is turning out to be nothing but spectacular. And if the last year is any indication; this is just a beginning.
According to the Everest Group, a global research firm, while mature markets globally are expecting a growth rate of ~5%, the APAC market would see a growth of ~12%.
The rapidly changing and increasingly complex business environment today is placing huge demands on business leaders. This past decade has seen dramatic shifts in aspects that govern work and workforce – the physical, educational, enterprise, social and geopolitical aspects – and compel our business leaders to relook at how they manage their people and talent strategies.
India Skills Report 2019 is a joint initiative by PeopleStrong, India’s fastest growing HR solutions, and HR Technology Company, and Wheebox, a Global Talent Assessment Company, in collaboration with Confederation of Indian Industry (CII) along with partners like UNDP, AICTE, and AIU. The report also consists of an in-depth study of employability amongst the fresh candidates joining the workforce and shared that of all students passing out this year, more than 48% are employable.
As the year 2012 comes to an end, there is already a huge movement towards Cloud with other future shaping trends being Social Media and Big Data. Opportunities in Big Data are immense and there is much that remains to be explored in the areas. Companies in marketing, retail and healthcare are already using Big Data to predict customer behavior for business effectiveness.
There has been a rapid growth in adoption of cloud technology over the past few years. Early adopters moved to cloud for CRM and Collaboration, and of late there has been a huge surge in demand for HR on cloud.
But one of the things that holds back adoption is the myth that a SaaS product is a standard product and won’t be able to map their organization’s unique practices and processes.
What makes good candidates become great employees? Is it just the work they get to do? Yes, to some extent. But there’s something that they experience even before they get to know their teams and start working on assignments. Every experience counts – right from their first engagement with the company representatives, till the chain of events that follow after they receive the offer.
It is time HR departments moved beyond just creating a culture of keeping employees happy and meeting their expectations. The customer needs to be treated as a major stakeholder in the workforce strategy, the workforce policy and the workforce technology, besides the work culture. Due weightage should be given to employees, investors and social frameworks while keeping the customer at the center.
The financial year 2013/14 has been one of recuperation for businesses globally. While the first half was full of uncertainties, the latter half was greeted with the hope that the economic turmoil shall pass! The job market, too, followed the same trend, thus leaving a close impact on employees.