Healthcare and IT to continue job creation this quarter.Mumbai, 14 May 2021, As India’s economy tried regaining its footing, the number of job opportunities seen by global recruitment specialists Michael Page rose 32% in Quarter 1 2021 as compared to Quarter 4 2020. This hinted at the economic revival of the country.April 2021 saw economic activity in India dip due to localized lockdowns during the second Covid-19 wave, but the impact is unlikely to be as devastating as 2020. Compared to last year when there was a national lockdown and movements were completely restricted for 30 days, business activity is happening this year despite restrictions. The ongoing second wave will only result in a "short-term setback", the medium-term growth outlook remains stable for rest of the 2021.The second wave will not impact the livelihood of salaried employees to a great extent, but it will affect the blue collar jobs and the gig workers as thousands of migrant workers and daily wage labourers returned home when some states announced lockdowns in prominent cities. The sectors which will see the maximum impact in India are retail, hospitality, aviation as well as property & construction.Speaking from recent observations, Nicolas Dumoulin, Managing Director, Michael Page India says, “This current situation in India has impacted many people and their families leading to disruption in their daily lives. Therefore we have noted a drop in confidence levels among candidates to change jobs, this has impacted the hiring market adversely.”That said, the sector which will continue to lead hiring this quarter will be the IT and healthcare sectors. “The second COVID-19 wave comes at a time when India’s economy has made a resilient comeback. Firms and consumers have rapidly adjusted to the new normal,” comments Nicolas Dumoulin.Nicolas Dumoulin continues, “Currently, the IT sector is very buoyant and Bengaluru continuous to be the hotspot in IT related hiring. There’s scarcity of talent as the ask is much bigger then resources. More traditional companies are making the shift to digital processes and implementation. India also has a very strong position as shared services center for IT companies. This trend will be seen for a long time.”Likewise the demand in India’s healthcare sector is increasing as the country continues its fight against the pandemic. Nupur Mehta, Associate Director of Michael Page India observes, “Hiring activities in the healthcare sector are up by almost 35% and within diagnostics and medtech specifically there is a 10-15% increase.”“We have seen a lot of positive movement in India’s healthcare sector since last year. There is a lot of investment coming in from private equity and venture capital firms as well as pharmaceutical giants especially in the diagnostics segment,” Nupur Mehta continues.To deal with the talent crunch, hiring managers in India’s healthcare is looking at talent coming from FMCG sector right now for digital, technology and marketing positions. Demand of returning Indians from overseas have increased for skills which are currently not available in India right now and contractual hires in support functions have also risen.The second wave of the pandemic in India has created a surge in demand for technicians in the diagnostic labs for short-term contracts as well as nurses and paramedics. There is even more demand for medical specialists in home ICU Setups, essential deliveries for the quarantined and medical affairs. This has again opened plenty of new jobs in India’s healthcare sector, in skill sets different than what was traditionally needed in this field.#END#About Michael Page India:PageGroup is a leading international specialist recruitment group with a market capitalisation in excess of GBP 1 billion. We are listed on the London Stock Exchange as a FTSE 250 company, and currently employ over 7700 staff with over 140 office locations in 36 countries.Michael Page launched its India business in 2011 and currently has over 150+ specialist recruiters working on mid to senior level roles in 11 disciplines across offices in Mumbai, Delhi NCR and Bengaluru.Michael Page’s Mumbai and Bengaluru offices recruits for clients based in West and South India, while the Delhi NCR office recruits for clients based in North and East India.The clients in India range from large multinationals and Indian conglomerates, to small and medium sized companies across Digital & Analytics, Engineering & Manufacturing, Finance & Accounting, Financial Services, Healthcare & Life Sciences, Human Resources, Legal, Procurement & Supply Chain, Property & Construction, Sales & Marketing and Technology.For more information, please contact:PR PunditKinjal Naker I +91 9892489075 I Kinjal.n@prpundit.comParul Bhatia I +91 7208776377 I Parul.bhatia@prpundit.com
