The study further said that financial services, retail, FMCG and telecom sector will also witness an upward swing in the state, while manufacturing and engineering industry will take a beating both in business outlook and hiring.
Elaborating on the economic scenario in the state, TeamLease Services claimed that despite the cautious approach prevalent across the country, Gujarat will continue to witnesses a buoyant economic environment indicating a greater movement towards formal employment. "Not only has business sentiment been trending upwards in the state, even the hiring sentiments seem to be buoyant signalling a positive employment outlook in the state," said Surabhi Mathur Gandhi- Senior Vice President, TeamLease Services.
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The study conducted in eight cities also concluded that Pharma and Healthcare which has been experiencing exponential hiring nationally will only be marginal in Gujarat. On compensation the study claimed that in the coming year companies are expected to revise the compensation package and explore a more motivational approach. "Niche skills in IT, automobiles and pharma and healthcare will experience a 15-20 per cent salary hike," the study further concluded.