1 min read.Updated: 09 Jun 2021, 11:32 AM ISTLivemint
Healthcare and Technology to remain key recruiting sectors for India's recovery in 2021
While the COVID-19 pandemic continues to impact hiring and recruitment trends across India, the pandemic has accelerated demand for skilled talent, according to a report by RGF Professional Recruitment, a Gurgaon-based human resource consulting firm.
A report titled, 'RGF International Recruitment's Salary Watch 2021: India', said that the detrimental effects of COVID-19 were strongly felt by the corporate sector in India.
The report presents a comprehensive analysis of salary data collected on more than 19,000 candidates in India and provides projections and benchmarking to help employers and employees make informed decisions on compensation.
These are key points from the report
The detrimental effects of COVID-19 were strongly felt by the corporate sector in India, where executives across functions such as human resources, finance, and admin saw a steep decline in salaries.
According to the report, the boost in demand for healthcare services and pharmaceutical production has spurred a rise in compensation for talent with experience in regulatory affairs (increments up to 8%), medical areas (7%) and production & operations (7%).
Senior personnel and R&D talent across industries are also expected to see higher increments (7%), corresponding with the urgent need for experienced professionals with the skills to provide overall direction in this time of change.
The pandemic has also led businesses across sectors to consider digital strategies to cope with challenging conditions. From fintech to healthtech and ecommerce, companies of all sizes continue to undergo digital transformation to bring much-needed services to customers in need, such as payments, medicines, and groceries.
Tech talent employed in roles like software development, artificial intelligence, robotics and data science are expected to command some of the highest salaries in the region, averaging between ₹50 and 80 lakh per annum and salary increments up to 40% when changing jobs.
"Hiring the right talent will play a crucial role in India's ability to not only tackle the current challenges of the pandemic, but also recover from them for the longer term," said Sachin Kulshrestha, Managing Director, RGF Professional Recruitment India.