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After a year of cautious optimism, job market heads towards brighter days, but upskilling is imperative
- The hiring landscape in 2024 witnessed a delicate balance between caution and optimism, after a few years of over-hiring, mass layoffs, and economic headwinds.
- Despite the economic challenges, the hiring activity in India improved in 2024 and surged by 10.05%.
- Freshers and entry-level roles hiring surged in 2024, driven by strong demand for skills in artificial intelligence (AI), cloud computing, and data analytics.
- Hiring for mid-level management roles remained stable, with selective additions aligned to business growth.
- Compared to 2023, hiring for top management roles slowed as companies prioritised cost optimisation and internal promotions.
- Shortage of talent in niche areas, skill gaps, and fierce competition to hire top-tier candidates were some of the challenges faced in 2024.
- With automation and evolving business needs reshaping job roles, upskilling is key to remaining competitive in the job market.
- Experts predict hiring activity to be stronger in 2025, with a projected 9% growth in hiring, particularly in blue-collar and junior roles.
- Hiring trends in 2025 will be shaped by the needs of companies operating in green energy, electric vehicle manufacturing, AI-driven industries, and GCCs.
- The gig economy and flexible work models will expand, leading to increased recruitment, while upskilling is essential for all professionals to remain competitive.
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