- Knowledge: Skills learnt through specific educational programmes.
- Soft Skills: Team work, communication skills, business language, positive behavior
- Work Experience: Prior work experience shows level of competence and adaptability to work in new organization
With the growing demand for talent pool there are multiple opportunities for a job seeker, attracting or retaining talent is directly proportional to the organization’s ability to engage its employees. The organizations recruit people with better skills and talent, established track record and solid industry knowledge and experience. They do not take chances with any bold experiments such as cross industry hiring. The hiring scenario has stretched from both ends – the availability of right manpower to hire and the retention of the existing manpower which is contributing to the real growth and sustenance of the organization. The overall demand for employment within a given economy, as well as the exigencies of any specific industry can cause the demand for employment to grow or to shrink and consequently the market for jobs to expand or contract.
Surveys have found that more employers in 2016 plan to hire senior managers whose sole focus will be on making work meaningful. More than a quarter (27%) of hiring managers are planning to scoop up entry-level applicants, up nine points from 2015, and 62% said they’ll consider tech staffers with two to five years of experience, an eight-point rise. Also, about 91% employers are trying to “improve the candidate experience,” that includes streamlining job applications to make them shorter and simpler, since 68% of job seekers who abandon an application do so “because the process was too long or required too much information.”
Science and Technology in India
- India has a strong network of science & technology institutions and trained manpower. It has the third-largest scientific and technical manpower in the world with 162 universities awarding over 4,000 doctorates degrees and 35,000 post graduate degrees annually.
- India‘s R&D globalisation and services market is expected to reach US$ 38 billion by 2020
- The Government aims to invest 2 per cent of the country’s GDP on research and development (R&D) in its 12th Five-Year Plan period (2013–17)
- The central government plans to soon institute a nation-wide consultation process with a view to develop the first publicly accessible Science and Technology policy. The policy ‘Vision S&T 2020’ would articulate the country’s future towards self-reliance and technological independence in the 21st century.
- Ministry of Science and Technology, which is India’s main agency for disbursing research grants, received Rs 95 billion (US$ 1.42 billion) in the Union Budget 2015–16.
Engineering Industry in India
- `Make in India’ campaign has received the attention of several infrastructure and engineering multi nationals including GE and ThyssenKrupp, which are considering investing in the country. The Government has also awarded a record 56 defence manufacturing permits to private sector entities like Mahindra, Tata and Pipavav, etc., in the past year to set up production units for major military equipment.
- The Government of India in its Union Budget 2014-15, has provided investment allowance at the rate of 15 per cent to a manufacturing company that invests more than US$ 4.17 million in any year in new plant and machinery.
- The government has also taken steps to improve the quality of technical education in the engineering sector by allocating a sum of Rs 500 crore (US$ 75.33 million) for setting up five more IITs in the states of Jammu, Chhattisgarh, Goa, Andhra Pradesh and Kerala.
- Engineering exports from India increased 14.7 per cent to US$ 70.6 billion in FY15’
- Spending on engineering services is projected to increase to US$ 1.1 trillion by 2020
- The automotive industry is expected to require an additional 25 million workforce by 2016 with an approximate number of total 44 million employees
- The automobile industry in India is expected to be the world’s third largest by 2016
- Luxury car market is expected to reach 150,000 units by 2020
- 6 Million-plus vehicles to be sold annually, by 2020
- Two-wheeler sales is projected to rise from 15.9 million in FY13 to 34 million by FY20
- Employment of environmental engineers to grow by 15 % from 2012 to 2022, which is faster than the average for all occupation
- Government to allocate Rs. 15,000 crores by 2017 for Green Technology upgradation-facilitating the implementation of energy efficient & environment friendly processes or equipments
- For the promotion of Green Buildings in India, ECBC to be made mandatory for commercial buildings in Tier-I cities, by 2015 and for all over the country by 2018
- International firms and supra-national bodies like UNO require candidates with qualification and exposure in environment technology for various projects’
Indian Pharmaceutical Industry
- Over 2012–20, total healthcare spending is expected to rise at a CAGR of 20 per cent to US$ 280 billion from US$ 65 billion
- Industry revenues are expected to expand at a CAGR of 12.1 per cent during 2012-20 and reach US$ 45 billion
- Pharmaceutical sales, as a percentage of total healthcare spending, are expected to increase to 27 per cent by 2016 from 18.9 per cent in 2008nbsp
- By 2020, India is likely to be among the top three pharmaceutical markets by incremental growth and sixth largest market globally in absolute size
- India has more than 350 colleges which impart education in Architecture, there is acute shortage of trained architects who can fulfill the current requirement
- Real estate contribution to India’s gross domestic product (GDP) is estimated to increase to about 13 per cent by 2028
- Real estate is currently the fourth-largest sector in the country in terms of foreign direct investment (FDI) inflows
- The Indian real estate market size is expected to touch US$ 180 billion by 2020
- The construction industry creates an annual asset base of US$80 billion and generates employment for more than 40 million people
- India is 2nd highest number of USFDA–approved plants
- India is amongst the top 12 biotech destinations in the world
- Market size of the sector is expected to rise up to USD 11.6 Billion by 2017
- Government to spend USD 3.7 Billion on biotechnology between 2012-17
- Expected to grow up to Rs. 4,40,000 crores by 2020
- The industry and government will have to work in tandem to achieve the ambitious target of the chemical industry to grow at 11% p.a. and reach a size of $224 billions by 2017
- A fund of Rs 25 Crore is proposed to Government for promotional activities for development and promotion of chemical industry
- to provide support for new technologies and establish technology up-gradation fund of Rs. 500 Crore
- Government may allocate a budget of Rs 50 Crore for the establishment of the Indian chemical inventory
- Chemical engineers traditionally have the highest starting salaries of all engineering disciplines as the job market is always more stable for them
- Chemical industry will require additional 4.5 to 5 million skilled workers by FY17