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Approximately one million new jobs will be created in the organised sector this year — with the education, health and hospitality industries being key drivers of the job market.
That’s the message emanating from the annual employment survey undertaken by Ma Foi Consultants, a Chennai-based human resource service provider and staffing company.
The education sector is the largest employer in the country, employing around 10.26 million people in 2007. It is likely to add another 1,66,005 by the end of this year.
It is closely followed by the hospitality and healthcare sectors, which employed about 6.17 million and 3.32 million people, respectively, in 2007. Hospitality and healthcare would add another 4,26,668 and 2,95,829 people this year.
“This was the striking aspect of the survey as these sectors have left behind the traditional favourites such as banking, financial services and insurance (BSFI), and information technology,” said K Pandia Rajan, managing director of Ma Foi.
BSFI and IT would be adding only about 7,600 and 74,693 more people, respectively this year.
The survey was conducted across 2,006 companies belonging to 22 organised sectors in the country.
“We have a billion plus population which needs to be educated. There is currently a lot of activity happening in the education field. With government funding for education hiked from Rs 28,674 crore last year to Rs 34,400 crore in budget 2008-09, the sector will witness major transitions. This sector is the foundation on which other sectors rest,” says Anand Sudarshan, chief executive officer of Manipal Education.
According Sudhakar Balakrishnan, CEO of HR firm Adecco India, the entire education market is pegged at Rs1,50,000 crore.
“Not surprising then, that companies like Educomp are making the most of it by investing huge sums and setting up schools. We have companies like NIIT and Everonn hiring about 800-1,000 people a year. All this will only drive the sector further.”
According to analysts, the market size of the tutorials sector in Mumbai alone is worth Rs200 crore. Over one lakh students depend upon tutorial classes in English medium and two lakh in Hindi and Marathi mediums.
With the healthcare industry growing at 15% per annum, there will be greater demand for professionals, technicians, doctors, and health specialists, says VP Kamath, CEO of Apollo Hospitals, Mumbai. “Medical tourism is expected to become a $2 billion industry by 2010. This will only add to the job creation in the healthcare sector.”
According to Ficci, an apex industry association, the healthcare industry has emer-ged as one of the most challenging sectors in India with estimated revenue of about $30 billion (in financial year 2005-06), comprising 5% of GDP.
The survey further says that the real estate and construction industry has the highest percentage of outsourced workforce at 19% and is closely followed by the hospitality sector at 18.5%.
It also says that experienced workers are hired more than freshers, who constitute a little more than a quarter of the newly hired. Sectors where the demand for freshers is above 30% include hospitality, energy generation and supply sector, IT-enabled services, mining and extraction. “Although there is optimism about young minds and fresh ideas, experience counts to a large extent,” says Rajan. |
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