New Delhi: As the job market in India undergoes significant changes, employees are increasingly requesting salary increases ranging from 20% to 40%, especially in rapidly growing sectors such as Artificial Intelligence (AI), Electric Vehicles (EV), and engineering, according to a recent report by Adecco India.
This surge in salary expectations is indicative of the heightened demand for specialized skills in these fields, as noted in the report.
The findings reveal a robust hiring trend for specialized positions in areas like Electric Vehicles (EV), Environmental, Social, and Governance (ESG), digital transformation, and cloud computing. These sectors are at the forefront of recruitment efforts, as companies emphasize the need for expertise in advanced technologies and sustainability practices.
In contrast, sectors such as banking, financial services, and IT have experienced more stable salary conditions despite the variable job market. The report highlights a notable shift in employee expectations, with individuals now valuing more than just monetary rewards. Their priorities have broadened to encompass meaningful work, opportunities for career advancement, and flexible work arrangements.
The growing influence of AI is also reshaping the workplace dynamics. Rather than being perceived as a threat, AI is increasingly recognized as a catalyst for growth, prompting substantial investments in upskilling and workforce development. Organizations are concentrating on enhancing technical capabilities, particularly through AI-driven learning platforms, certifications, executive coaching, and leadership training.
The demand for expertise in ESG, automation, and machine learning is swiftly increasing as companies adjust to the evolving economic landscape in India. Notably, India stands out as a leading adopter of AI in the Asia-Pacific (APAC) region, with 42% of businesses already incorporating AI solutions into their operations. The integration of cloud computing and AI-driven automation is transforming traditional job roles, generating new career opportunities, and highlighting the necessity for continuous skill development.
Organizations are increasingly recognizing AI as a tool for enhancing productivity rather than a threat to job security. This shift underscores the importance for employees to remain proactive in adapting to technological changes and to continuously develop relevant skills.
In conclusion, as the workforce in India adapts to evolving expectations and technological advancements, it is crucial for businesses to focus on upskilling programs and flexible work arrangements to maintain their competitive edge in a rapidly changing job market.
Karthikeyan Kesavan, Director & Head of Permanent Recruitment at Adecco India, highlighted the necessity of adjusting to the shifting job landscape, noting, "As companies navigate a swiftly evolving talent environment, strategic hiring and compensation structures that prioritize skills are more vital than ever." He further remarked, "The increasing demand for expertise in AI, cybersecurity, and cloud technologies makes it imperative for organizations to provide attractive salary packages and opportunities for skill enhancement to draw in and retain top talent."
