July 21, 2014: Middle managers are back in demand reports the TimesJobs RecruiteX. After bearing the brunt of the economic crunch, demand for managers with 5-10 years of experience starts to bounce back as a result of political stability and new policy announcements.
The latest TimesJobs.com RecruiteX reports that the middle management level is back in demand as India Inc. prepares to post high growth numbers. Employment, being a lag indicator, witnessed overall demand drop 2 per cent during Jan-Jun 2014, but candidates with 5-10 years experience reported an average increase of 2 per cent in demand.
BFSI, Healthcare & IT lead demand at mid-level
The Recruitex Reports that nearly 28 per cent of the demand in the BFSI segment¸ particularly in tier II & III locations is for mid level professionals.
“As the present government pushes for financial inclusion and an increase in customer base, demand for middle managers is going to increase especially to set up and transact operations. This demand will also be fuelled by the tech transformation happening in the BFSI sector.” explains Vivek Madhukar, COO, TBSL.
Experts believe that banks are looking to ramp up their scale of their operations and so significant amounts of manpowerwith managerial ability will be needed to execute these plans. Average compensation at the mid-level is between Rs 9-12 lakh, with scope for growth in the near future reports TimesJobs data.
The Healthcare sector is also focusing on hiring experienced professionals and demands over 20 per cent of its new hires to be able to hit the ground running from day one. Thus, hiring at the mid-level reported a significant increase and the trend is expected to continue in the future. These businesses are clearly looking at securing experienced, specialized talent thereby ensuring better workplace capabilities.
For the IT/Telecom industries, nearly 25 per cent of their total demand will be for the middle manager level. Professionals with 5-10 years of experience will be in demand for support roles, including HR, administration and marketing. “With increasing competition and customer needs, increase of talent at middle level is required. They need to have people management skills, entrepreneurial mind-sets and P&L handling skills,” said Vivek Kumar, CHRO, Indus Towers Limited.
With reforms, new laws and FDI inflows the Manufacturing sector is set to expand and will also see a demand of 22 per cent for middle managers, particularly in the sales and supply chain management functions.
As Infrastructure sector projects start operations and companies are focusing on development and maintenance, nearly 21 per cent of the total demand in the sector is expected to be for the middle level employees, who can take charge and organize the functions. “Functional experts are preferred at the middle level. For example, if we are looking for a logistics profile, preference will be for the person who has exposure to such functions in the steel industry and that too, with the requirement of either rail or road operations in logistics,” explained Amitabh Akhauri, Sr VP-HR, Jindal Stainless Ltd.
The bi-annual recruitment report by TimesJobs.com, RecruiteX, analyses the Indian jobs market in view of demand and supply of talent. In this edition we have deciphered the data by level – junior, middle and senior for each of the top 10 industries. With this comprehensive analysis of present and future talent requirement, we aim to empower the industry to make strategic business decisions.
You can download the TimesJobs RecruiteX here – http://content.timesjobs.com/docs/RecruiteXMay2014.pdf