The Number Game

Financial inclusion being the agenda of the government, the BFSI (banking, financial services & insurance) sector will expect to create considerable number of job opportunities.With the issuance of new licences and efforts being made by the RBI and the government to expand financial services into rural areas, the job opportunities in this sector are expected to increase significantly. This year BFSI sector will see job spurt with increase of 24% in hiring this year in comparison to last year which was 20% and add 2.2 lakhs number of jobs this year. This is as per India Skills Report 2016, a joint initiative of People Strong (human resource solutions and HR technology company), Wheebox (global talent assessment company), in collaboration with Confederation of Indian Industry (CII), LinkedIn and Association of Indian University (AIU).

Hiring will take place across levels but more action happening at entry and middle management levels. There is a demand for degree (35%), vocational (23%) and management (21%) candidates. There is very less demand for ITIs, diplomas and engineers in BFSI sector in comparison. The report states that employers are preferring candidates between 22-29 years of age having an experience of 5 -10 years. This year demand for freshers has decreased.

Another interesting trend that was observed is Mumbai was true to its stereotype of being the financial capital with a majority of the professionals from the finance domain available in Maharashtra.

The report captures the insight from an employability test that was spread out to 3000 educational campuses, assessing five lakh students across 29 states and seven union territories, along with India’s hiring intent survey that reached out to over 150 employers across 12 major sectors.

Source: The Times of India (Delhi)

Date: 06-06-2016

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