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The increasing demand for talent seems to be having a positive impact on salaries this year, with the variance between temporary and permanent jobs coming down, says a report from TeamLease Services, a leading hiring and personnel outsourcing agency.
According to its ‘Jobs & Salaries Primer’ report, the average salary difference between temporary and permanent jobs is 2.2-2.5 per cent, compared with last year’s low of 4.7-5 per cent. This gap has lessened significantly in even no-metros such as Pune and Ahmedabad, between the salaries for temps and people on the rolls. This indicates a maturing of the job market. From an overall perspective, candidates undergoing appraisal this season are expected to see a salary growth of 10.5-15 per cent across sectors and functions, setting an upbeat tone for the year.
Rituparna Chakraborty, senior vice-president & co-founder of TeamLease, said: “The overall improvement in the business scenario, coupled with right initiatives by the government, seem to be having a positive effect on hiring and salaries this year. The growing optimism and resultant movement of talent will not only compel corporates to loosen their purse strings but help them access a wider talent pool.” Retail and telecom steal the show with a 12–15 per cent increment in salaries. Health & pharmaceuticals, media & entertainment, power & energy, consumer goods and durables are also expected to see a positive growth. Among cities, Mumbai is top in as many as seven sectors in salary rises.
The report says median pay for some of the blue-collar profiles are around 30 per cent and 50 per cent higher than the minimum wage. Apart from the hard skills, traits such as honesty, personal hygiene and mannerisms are increasingly gaining in demand.
Job creation is also witnessing slight deviations. Those in technological innovation are much sought. Software roles dominate top-tier jobs across sectors, reflecting the severe talent shortage here. Technological skills are the most valued and businesses across industries are willing to pay well for these. Java developers, project managers and infrastructure architects are commanding monthly salaries upwards of Rs 50,000, at least a 50 per cent mark-up from the median salaries for the rest of the job profiles, states the report.
