Hays Skills Index: India
The Hays Skills Index shows Indian wage growth to be the fastest of any country in the index, in addition productivity and employment are increasing with employers focusing on how to train and maintain staff.
11 December 2018
At the CBI conference in London Hays' Simon Winfield highlighted how technology, changing dynamics of the workforce and the speed of socio-economic change mean that employers will have to use new approaches to ensure they attract the talent to drive successful future growth. No country is experiencing more rapid socio-economic change than India, with a young skilled workforce, growing middle class and rapidly increasing economic productivity. Here we take a look at Hay's Global Skills Index 2018 section on India, the manufacturing centre of Europe, and the situation in their labour market.
India continued to see strong economic growth of over 7% a year by the end of 2017, with only a gradual slowdown predicted ahead.This compares to employment increases of around 2%, suggesting rapid improvements in productivity. However, there remains much scope for further productivity increases over the decades ahead, with India’s GDP per employed person standing well below the average for low- and middle-income countries. India’s educational attainment similarly has room for improvement, with a World Bank Education Index ranking of 130 out of 180 countries.
Click here to browse and download the Hays' Global Skills Index 2018 on their website.
India continued to see strong economic growth of over 7% a year by the end of 2017, with only a gradual slowdown predicted ahead.This compares to employment increases of around 2%, suggesting rapid improvements in productivity. However, there remains much scope for further productivity increases over the decades ahead, with India’s GDP per employed person standing well below the average for low- and middle-income countries. India’s educational attainment similarly has room for improvement, with a World Bank Education Index ranking of 130 out of 180 countries.- IKAN report: diversity, inclusion, equality and privacy in India
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Indian employment skills - view from the ground
The journey of reforms which the Government has embarked on continues this year and the impact can be seen on many fronts – for example India moved in to the top 100 in the World Bank’s Ease of Doing Business global ranking for the first time.On the other hand, the growing impact of changing geopolitical, economic and technical factors is increasingly visible on the talent strategies of corporates, as they are now focussing on future-proofing their talent by beginning to invest in innovative ways to retrain and reskill key resources rather than just focussing on hiring for new skills. This not only readies them for future but has helped in retaining key talent. The current wave for technologies like artificial intelligence, robotic process automation, data sciences, blockchain etc. has instigated a demand for workers with hybrid skills.Shane Little, APAC Managing Director, Hays Talent SolutionsKey skills in demand
- Risk Officers
- Pharma Regulatory Professionals
- Analytics Professionals
- AI Engineers
- Software Application Developers
Click here to browse and download the Hays' Global Skills Index 2018 on their website.
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