January 2022
While 2021 has been the year of revival for several industries amidst the Covid-19 pandemic, it was also a year of many firsts. Adoption of technology across sectors redoubled while more and more companies transformed their organizational strategies and goals to accommodate the new normal.
The need for skilling and upskilling reached a new high, with an increasing number of recruiters on the hunt for skilled professionals, in the wake of the Great Shuffle and the employment crisis in India.
But now that 2022 is here, we need to take a look at what to expect when it comes to job and hiring trends in the year ahead and that is what the Monster Annual Trends Report seeks to do.
Sekhar Garisa, CEO, Monster.com, a Quess company, said, "The year 2021 was definitely a year of recovery. As we step into the new year, we are optimistic about paving the way for better employment opportunities in 2022."
"The future of work is location-agnostic and hybrid, with increased skilling initiatives being undertaken by both employers and employees. Further, leading tech-enabled industries such as IT, FinTech, BFSI, and crypto will continue to flourish with talent demand spikes," he said.
"It is also interesting to note that employee flexibility would be critical towards retaining talent in the future, and the Great Shuffle is a reinforcement of how the huge demand in the jobs market is opening the door for employees to select a career of their choice," he added.
Here are the 9 major employment trends for 2022:
1. AI and Machine learning job demand estimated to grow:
With rapid tech adoption across industries and entirely tech-enabled sectors such as IT and BFSI, the role of AI and Machine learning will only continue to grow in 2022, with a significant increase in the demand for related roles.
Industry reports further suggest that AI/Machine Learning investments in India will continue to grow at a CAGR of 33.49% till 2023.
2. Chatbots to empower customer support services
To enhance customer engagement, more and more organisations are adopting chat-bots which are forecast to empower approximately 45% of organizations' customer support services by 2022.
Roles in Learning and Development, Travel, Consumer Analysis, and Lead Nurturing would witness a spike in demand, in this regard.
3. Growth of FinTech in 2022
The Indian FinTech market expanding rapidly, and is estimated to become the third largest market in the world by 2025.
The future holds increased digitization and digital adoption opportunities across the industry, with a positive outlook for talent demand in the sector.
4. Continued spike in IT talent demand
Indian IT has continued to hire through the course of the pandemic, and will exhibit similar trends in 2022.
It is encouraging to note that the IT industry is forecasted to grow 7% in the current year, and likely to see a gross employee addition of around 450,000 in the second half of FY22.
5. Big Data Analytics roles to witness huge demand
Basis reports, 96% of companies are definitely planning or likely to plan to hire new staff with relevant skills to fill future big data analytics related roles in 2022.
This is most likely going to be the most in-demand role in 2022. Data Science, Cloud Computing and Machine Learning roles captured most of the e-recruitment market.
6. Skilled manpower to be the future of the workforce
The demand for skilled manpower or professionals adept in digital skills is likely to witness a surge in industries such as BFSI and new sectors such as crypto.
The top skills organizations are on the lookout for are data science, cloud computing, artificial intelligence, blockchain, and machine learning.
7. Sales professionals in demand
The demand for sales professionals is estimated to increase especially in industries such as FinTech, Retail, E-commerce, and Social Commerce.
8. Location-agnostic future
The future of working is certainly hybrid. Location-agnostic working goes hand-in-hand with this, especially for tech companies with large workforces.
With a number of employees preferring remote working and staying in their hometowns, more and more organisations are considering setting up smaller offices in Tier-2 cities or utilizing co-working spaces to provide employees with better resources and access to technology.
This would, in turn, lead to an increased demand to hire across Tier-2 cities in the coming months.
9. Optimistic outlook for fresher hiring
Hiring for freshers has picked up over the last three months of the year, and is estimated to increase considerably in 2022.
The continuing emergence of startups will further contribute to the demand for entry level professionals across industries.
Source: www.msn.com
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