While hiring, it is essential for hiring managers to get a deeper understanding of the mindset of the workforce to make appropriate appointments and deciding pay scales.
Here are some useful insights into what job seekers are inclined towards and how this plays a role in landing a job, according to the Michael Page Salary Benchmark.
The Michael Page Salary Benchmark is an annual salary report developed to provide hiring managers and candidates with salary references across various industries by job functions, including finance, technology, human resources, sales and more.
The report also includes an overview of market trends, hiring demands and job seekers’ sentiments within each industry. This year’s benchmark is available in 13 markets across the Asia Pacific: Australia, Hong Kong, India, Indonesia, Japan, Mainland China, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam.
Transformation time in India
Despite what is seen as short-term clouds on the global horizon, there are good things ahead. With India’s strong 10-year average annual GDP growth of 6.4%, low inflation and positive macro-economic stability, we expect more exciting times ahead for this remarkable nation.
Digital transformation is a hot topic for many clients and it will remain a dominant theme for 2020 and beyond. As sectors like e-commerce, mobile and gaming flex their new growth potential, there might be some tightening in of match-ready talent. Otherwise overall, India has an ample supply of good talent for new roles.
How optimistic are job applicants in India about the job market
~ 59% are inclined to work overseas in 2020
~ 80% believe they will take less than three months to find a new job vs 79% in 2019
~ 76% foresee themselves having better career progression in 2020 vs 75% in 2019
~ 72% are positive about the job market vs 76% in 2019
What is the India workforce thinking?
The Michael Page Salary Benchmark is derived from 64,000 data points in India. These include job advertisements and placements made between July 2018 and June 2019, incorporating salary projections for 2020. Job Applicant Confidence Index, insights from business leaders, recruiters’ interactions with companies and industry professionals, as well as other supplemental information from our various studies are also taken into consideration.
Source: The Michael Page Salary Benchmark