The initiatives by Indian government, like Make in India and Smart Cities, would most likely create more than 5 lakh new jobs in FY17. This has been revealed by recruiters and headhunters.
This jobs recovery is likely to push salaries to an all-time high of Rs 1 crore-plus for leadership roles, as confirmed by ManpowerGroup India, Kelly Services and TeamLease Services. Overall, the increase in top and mid level salaries will be about 30%.
"The forecast till 2020 is that about 16 lakh jobs in the space of new projects across all sectors would be added and by 2016-17 we are looking at over 5 lakh new jobs being added from new projects," Rituparna Chakraborty, president of the Indian Staffing Federation and TeamLease senior vice president, told ET.
"Make in India campaign is definitely a trigger for creating additional avenues for project execution and project managers," said Rachna Mukherjee, chief HR at Schneider Electric India, which is hiring project managers in power, oil and gas, renewable energy, industry automation, buildings, residential and energy management.
The fact that there is a gap between supply and demand would surely lift the top salaries by 25-30% in the coming year, as per the recruiters.
Talking of the roles, nearly 9 million new project management roles would be needed by 2020 just for the Delhi-Mumbai Industrial Corridor development project.
Additionally, the government is engaging consulting firms in projects such as e-governance, smart cities, and digitalisation, because of which there is added pressure on consulting firms to acquire talent at all levels.
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