2016 was a mixed year for financial services. While the hiring for the first nine months was on a high, however post the announcement of demonetization the sector seems to have been temporarily paralyzed. While the sector may take some time to recover, from a long term perspective there will be substantial growth in business as well as hiring. In fact, 2017 will witness a 15-20% increase in hiring. The talent acquisition will not be restricted to banking, but financial research and broking firms will also scale their teams significantly.
E-wallet & Fintech will see a 3- 5 fold business growth and hence correspondingly there will be an increased demand for manpower to fill the industry’s need. Not only the existing e-wallet and Fintech players, but also the new players who will enter the sector following the growing interest will contribute to hiring. Roles such as product development will be sought after. Also, a lot of top talent will also be required to drive the growth.
NTBs (New to banks) and increased inflow of deposits triggered by demonetization coupled with the expected scaling up of lending business due to lower rate offerings on HL, ML & WC will also have a positive impact on talent acquisition. Lowered NPAs will also encourage higher lending and give a fillip to job creation by the BFSI sector. Further, as the year progresses, real estate is expected to lose its sheen as the preferred investment option and will give way to equities. Digital money will give rise to retail & HNI investors in Equity markets making 2017 a good year for not for banking but the entire the gambit of financial services. Financial research and broking firms will also look at scaling their teams significantly.
From a hierarchy perspective, the coming year will present a huge opportunity for entry level talent (0-3 year experience). Consumer banking, digital marketing and digital banking will be the most sought after profiles.”
About TeamLease Services Limited
Operating since 2002, today TeamLease is one of India’s leading human resource service companies. Currently, the company has 8 offices and 1400 clients across the country. The company has is a one-stop provider of human resources services, offering staffing, payroll processing, recruitment, compliance and training services. TeamLease set in motion the larger company mission of ‘Putting India to Work’ by focusing on its vision of 3 Es – Employment, Employability and Education. The company in partnership with the Government of Gujarat, set up TeamLease Skills University (TLSU), India’s first vocational university, at Vadodara. In FY2015, TeamLease rolled out NETAP (National Employability through Apprenticeship Program) to provide on-the-job training to apprentices. The company at present has about 125,000 associates/ trainees spread across the country and have till date given employment to 1.2 million people with an aim to hire millions more. For more details, visit www.teamlease.com.