TeamLease Services, India’s largest composite staffing company sees a six per cent increase in job openings for the pharmaceuticals and healthcare sectors. This according to the company can trigger widespread cheer in the employment outlook.
The positive sentiment is driven by the global macroeconomic trends and domestic demand which have put business and employment sentiments on a fast paced upward trajectory. Business Outlook, for the coming half year, has taken a leap of faith at 91 per cent which is a clear 9 per cent increase. The Employment Outlook growth is almost equally fast at 88 per cent which is up by 8 per cent . Job growth is expected to follow suit at a considerable 12.8 per cent increase.
The widespread cheer in Employment Outlook is most evident across the country but particularly for the pharma and healthcare sectors there is a demand for workforce in Kolkata, Chennai and Hyderabad.
The big change is the need for better healthcare which is driving business demand because of rise in diseases and need for medical intervention from Tier II and Tier III cities as well. In the case of pharma jobs opportunities are increasing because the industry is increasingly volume driven rather than value-driven primarily because of the Drug Price Control Order (DPCO), Hussain Tinwala, general manager, TeamLease Services, told Pharmabiz .
The optimism in the employment outlook seems to be not just contained to the metros, but there is a renewed interest of corporates in Tier 2 towns covering Hindupur, Visakhapatnam, Hubli, Belgaum, Thiruvananthapuram, Aurangabad, Kota, Ajmer and Meerut which are emerging as some of the new catchment areas recruiters have identified to hire from over the next half year, stated Kunal Sen, senior vice president, TeamLease Services.
The recent TeamLease Employment and Business Outlook report for the half year period from October 2014 to March 2015, has indicated that the Tier II cities will see more hiring as business sentiments rebound. The junior level hiring is also set to gain momentum with job growth rate touching a 24-month high.
The key findings of the study are that job growth rate is likely to favour particularly with regards to pharma and healthcare sectors where it is up 0.85 per cent in the cities of Mumbai, Delhi, Bengaluru and Ahmedabad which are driving pharma research manufacturing and information technology applications for life sciences.
The job openings in the junior cadre which is showing a 5 per cent increase as against senior level where it is 4 per cent rise. The job avenues are for sales-marketing and engineering profiles which indicates momentum in manufacturing which would get a leg up over the next 6 months.
A key trend is that employers demand for newer, and more sophisticated, skills is accelerating and well as the candidate aspirations for advanced careers. The gap that separates the two consists of institutional inadequacies that empower candidates with technological and market-focussed capabilities. Employers are also placing more emphasis on soft skills and team or collaborative skills and leveraging technological tools that enable hiring right-fit skills at scale. Candidates, on the other hand, are increasingly demanding of workplace environs that nurture their unique capabilities.