Increased demand for senior hires: Michael Page India

In particular, recruitment activity in the technology sector is anticipated to grow significantly with new CTO and CIO roles. Rapid advancement in the digital space has led to a surge in demand for professionals skilled in Big Data, machine learning and data science, Michael Page said in its India Salary Benchmark 2019 report.

In addition to the prerequisite technical abilities depending on job title, the new breed of business leaders in India also have to display agility, flexibility, a strategic and commercial mindset as well as mentorship qualities, the report adds.

“Movement among senior level professionals can be attributed to the growth of India’s industries and the availability of talent. This explains the key employment activity within the mid and large manufacturing organisations specialising in chemicals, building materials as well as domestic consumer companies,” says Nicolas Dumoulin, managing director at Michael Page India.

“The entrance of new funds within the private equity sector has also led to senior level hiring. Furthermore, the rise of India’s e-commerce and fintech businesses have increased opportunities for senior talent to move in from established industries such as the FMCG and banking spaces,” he adds.

India has a strong pool of senior leaders on par with business standards in developed markets. However, due to the increased pace of market growth, this has given rise to an acute shortage of available talent at this level. “The limited candidate pool has driven up the cost for senior talent over the years. Professionals moving jobs at this management level can expect 20 to 25 per cent increases on their compensation package,” says Dumoulin. (RKS)

Fibre2Fashion News Desk – India