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India's job market is getting ready for a rise amidst the hopes of the revival of an economy, with big companies like Korn Ferry, EMA Partners, Hunt Partners, Michael Page, <keyword id="133742" type="COMPANY" weightage="100" keywordseo="TeamLease">TeamLease</keyword> Services and <keyword id="250568" type="COMPANY" weightage="100" keywordseo="Transearch">Transearch</keyword> already registering 18% improvements in available jobs over last year. 
 
This could be cited to manufacturing, infrastructure and some other industries, even as the <a href="http://www.businessinsider.in/Foxconn-Indian-startups/articleshow/52848921.cms">start-up</a> and <a href="http://www.businessinsider.in/Indian-e-commerce-market-is-slowing-down/articleshow/52940196.cms">e-commerce</a> sectors are going <a href="http://www.businessinsider.in/No-ones-funding-Indian-startups-making-April-June2016-the-worst-in-3-years/articleshow/53264376.cms">down the hill</a>. Talking in broader sense, the job market has been seeing a growth for a while now. 
 
"This is likely to grow this fiscal," TeamLease Cofounder Rituparna Chakraborty told <a href="http://economictimes.indiatimes.com/jobs/rejoice-indias-job-market-set-for-an-uptick-amid-signals-of-broader-economic-revival/articleshow/53273706.cms">ET</a>. "Domestic consumption pattern is expected to go up in the next couple of quarters and hence all sectors which are aligned to this appetite are expected to hire more." 
 
The fact that Indian government is interested in a big push in the infra sector, along with the success that it has so far seen in the ‘<a href="http://www.businessinsider.in/Indiaeyes-place-in-top-100-on-ease-of-doing-business-list/articleshow/53128698.cms">Make in India</a>’ initiative, can be cited as two big reasons for this growth in the job market. 
 "Overall job market is all set for a consolidation followed by a surge as initiatives like <keyword id="6354869" type="UNKNOWN" weightage="100" keywordseo="make-in-India">Make in India</keyword> have started bearing fruit," said K Sudarshan, managing partner, Asia, EMA Partners. "We are quite optimistic about job growth prospects." 
 
"Over the last six months, the hiring at senior executive level has gone up by 20-25% across all sectors," said Transearch India managing partner Uday Chawla. "We can attribute this to positive sentiments." He added that the trend is set to intensify. 
 
<a href="https://greenerpractices.files.wordpress.com/2008/04/jobsearchnewspaper.jpg">Image source</a>

India is all set to get more jobs as economy revives

<ul class="summary-list"><li>Accuride, a truck-parts company, faces elevated default risk, S&amp;P Global Ratings said.</li><li>The ratings firm said tractor-trailer demand will remain weak into 2025.</li></ul>The freight industry is still rolling through a recessionary downturn, and more time is needed for the sector to kick into higher gear.The latest example of the industry's struggles came on Monday, when <a target="_blank" href="https://disclosure.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3208787">S&amp;P Global Ratings</a> cut to negative its outlook on Accuride, a commercial-truck-parts manufacturer. The agency cited weak sales and negative free operating cash flow as reasons the company is at risk at default next year.The agency specified that tractor and trailer production will see limited demand into 2025, noting that Accuride's low sales are fueled by persistent challenges in the industry."The freight environment remains depressed, which will leave credit metrics weak over the next two years," the report said. "Freight market conditions have remained much weaker than our previous expectations and underpin the reduction in our earnings and cash flow estimates for the company,"The sector has been mired in headwinds since the pandemic, as strong COVID goods demand declined over the years that followed. In the wake of falling consumption, the industry was left with an oversupply of trucks and sliding sales.<a target="_blank" href="https://markets.businessinsider.com/stocks/jbht-stock?_gl=1*1c1zc4e*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxOTk0MjQ5My4zODUuMS4xNzE5OTQ0OTI4LjQ3LjAuMA..">JB Hunt</a>, a leading trucking firm, was one of the first to <a target="_blank" href="https://www.businessinsider.com/freight-recession-trucks-containers-retailers-overbuying-analyst-economy-2023-4#:~:text=A%20freight%20recession%20basically%20means,Insider's%20Phil%20Rosen%20reported%20Wednesday.">warn of this "freight recession" in 2023</a>. Its problems persisted into 2024, when the <a target="_blank" href="https://markets.businessinsider.com/stocks/jbht-stock?_gl=1*h7q95*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxOTk0MjQ5My4zODUuMS4xNzE5OTQ1MDQ0LjQ2LjAuMA..">firm posted both a profit and sales miss in the first quarter</a>. Its stock is now down 21.3% year-to-date.Looking forward, investors should be hesitant to bet on a rebound in the second half of 2024, given that the freight industry is closely aligned with goods buying, S&amp;P analysts <a target="_blank" href="https://www.thescxchange.com/articles/10452-slowing-us-economy-to-affect-freight-demand">wrote separately</a> last month.While consumption averaged 2.7% in the first two quarters, it's now forecast to slow to a 2% annual growth rate, they said. In part, interest rates will drive the slowdown and will also bear on the trucking sector:"Some new-entrant truckers, who paid high prices for new equipment in the 2021–2022 boom, have become vulnerable in this higher-interest rate, lower-growth environment, which has led to contractions in for-hire trucking capacity," they wrote.These reasons mean that freight volumes will end the year weaker, as freight tonnage growth trails US GDP growth. According to the S&amp;P Global Transearch forecast, the measure will expand by just 1.7% this year.However, that depends on the freight mode in question. Trucking tonnage will actually grow the most by 2.4%, while rail carloads will drop 1.5%, they said.

America's freight recession is showing no signs of ending

As the impact of <a href="http://www.businessinsider.in/searchresult.cms?query=demonetisation&amp;sortorder=effectivedate">demonetisation</a> fades away, the consumer goods companies are looking at a better consumption to bounce back as early as next quarter. 
 <keyword id="3862921" type="UNKNOWN" weightage="100" keywordseo="Post-demonetisation">Post demonetisation</keyword>, the cash crunch faced by the entire nation did hurt them. According to industry experts, they don’t expect it to last long or cause job losses. In fact, some of them have even started stepping up hiring in anticipation of a demand revival. 
 
“We have seen headwinds on demand, but there is no freeze on hiring or bonuses as growth will be back in the second and third quarters (of calendar 2017), and we have to be ready for that,” Varun Berry, managing director at biscuit maker Britannia, told ET. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=PepsiCo+India&amp;sortorder=effectivedate">PepsiCo India</a> chairman D Shivakumar also acknowledged the impact of demonetisation on the consumer goods industry. 
 
“But we are hiring in expectation of a consumption revival,” he told ET. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Nestle&amp;sortorder=effectivedate">Nestle</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Procter+%26+Gamble&amp;sortorder=effectivedate">Procter &amp; Gamble</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Dabur&amp;sortorder=effectivedate">Dabur</a> also made similar views. <keyword id="6365619" type="CITY" weightage="100" keywordseo="Hindustan-UniLever">Hindustan Unilever</keyword> said it is business as usual for the company. 
 
Headhunters from Transearch, GlobalHunt and Korn Ferry said there was a slowdown in hiring at junior or middle levels in the FMCG sector after the November 8 demonetisation announcement, but that has changed now. In senior positions, there wasn’t any impact, they said. 
 The most fatal casualties face ddue to demonetisation were by neighbourhood stores that transact mostly in cash. Even as consumers visited modern retail outlets more frequently and paid electronically, cushioning the impact for the <keyword id="495979" type="UNKNOWN" weightage="100" keywordseo="FMCG-industry">FMCG industry</keyword>. 
 
According to an expert, across channels, the hit was mostly on non-premium categories targeting consumers with least purchasing power, but the highermargin premium products remained mostly insulated from the demand slowdown. 
 
While the situation is improving for both kirana stores and the organised ones in cities and big towns with easing money supply, rural markets remain a concern. 
 
“There was impact on demand and it was severe across consumer staples, considering that almost 90% of the sales traditionally happen across mom-and-pop stores. But a demand and consumption recovery phase is kicking in and banks are returning to a level of normalcy. However, demand recovery in rural markets will take more time as transactions have been almost entirely cash dependent,” Deloitte India partner Anil Talreja told ET.

FMCGs are banking on better consumption post note ban, start hiring

One of the major factors that are attracting talent is fat packages and they are, indeed, getting spoiled by the new-age firms. 
 <keyword id="3131348" type="UNKNOWN" weightage="20" keywordseo="Flipkart-Internet">Flipkart Internet</keyword>, which is the consumer-facing arm of <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, handed over Rs 1 crore as annual salaries to at least 23 of its employees last year. 
 
As per its filing with the Registrar of Companies, Flipkart Internet's employee benefit expenses grew threefold to Rs 476 crore. 
 
As per reports, Flipkart Internet’s Mekin Maheshwari received Rs 18.73 crore during 2014-15. 
 
Flipkart Internet’s fat packages point out that there is a need to retain pool of talent for which it is necessary to pay them well. 
 
"They are getting in people from the Valley or people who have worked with organisations such as Google, Adobe, Intuit. For companies like Google, the practice of paying high salaries starts at the engineering college level where they are among the biggest paymasters," Anuj Roy, partner, digital practice, at executive search firm Transearch, told ET. 
 
However, despite fat packages, Flipkart Internet still lags behind when compared with other giants like Hindustan Unilever, Infosys, Wipro, etc where more than 50 employees draw 8-digit salaries. 
 
Meanwhile, if employees are hired on a larger pay scale, they also face enormous pressure to justify salaries and meet targets. 
 
"Ecommerce requires different types of skills, a different mindset, willingness to take risks and often, crossfunctional expertise. It's hard to find people who are the right fit. Then there's the fact that people who do fit the requirements have the options to go to many other places which are equally keen to get the same kind of talent on board. The kind of salaries you pay depend largely on who you are competing with," Sandeep Murthy, partner at venture capital firm Lightbox Ventures, told ET.

Carrot and stick approach? Flipkart Internet is keeping its employees happy, hands over Rs 1 cr as annual salaries

Indian eCommerce industry is gearing up to take over the consultancies and consumer goods firms; as the former, also termed as a growth hungry industry, is now focusing on building a second tier of leaders to strengthen its critical operations and grow quicker. 
 As per a report published in Economic Times, the consumer internet startups like <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> and <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> have picked recruits from firms like McKinsey, Unilever and <keyword id="44672" type="CITY" weightage="20" keywordseo="Pepsi">Pepsi</keyword> for roles like finance, marketing, supply chain and business development. 
 Snapdeal, on Thursday, made an announcement that it had hired <keyword id="229048" type="PERSON" weightage="20" keywordseo="Amit-Choudhary">Amit Choudhary</keyword> as senior VP finance. Choudhary, a former <keyword id="6361491" type="CITY" weightage="20" keywordseo="Procter-Gamble">Procter &amp; Gamble</keyword> (P&amp;G) executive had been heading P&amp;G's Asia pet care business across 14 countries including Japan, Greater China and Australia. 
 
Businesses like McKinsey have emerged as beneficial hunting grounds for Indian eCommerce startups, given their need for leaders who have worked across industries and functions and can seamlessly transition between multiple roles. 
 Flipkart, in March this year, hired Saikiran Krishnamurthy as CEO of its commerce division; while mobile commerce biggie Paytm plundered <keyword id="2931547" type="UNKNOWN" weightage="20" keywordseo="Nehul-Malhotra">Nehul Malhotra</keyword>, who is responsible for on boarding merchants. 
 <keyword id="214729" type="PERSON" weightage="20" keywordseo="Amit-Sinha">Amit Sinha</keyword>, who is heading the human resource segment of Paytm said, "This is a new world and we won't always find people with similar experiences. Instead, we have to find people who have or can build the right skill sets. People we're trying to bring on board are the smartest ones around and they won't take much time to learn." 
 
The consumer Internet companies, apart from the stock options, offer a salary hike of upto 40-50%, informs Anju Roy, partner, digital practice at executive search firm Transearch. 
 
Image: indiatimes

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India is all set to get more jobs as economy revives

BI India Bureau

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FMCGs are banking on better consumption post note ban, start hiring

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Carrot and stick approach? Flipkart Internet is keeping its employees happy, hands over Rs 1 cr as annual salaries

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