India leading the world in the BPO sector with its knowledge heads proving to be the best destination in the world for outsourcing.
BPO is been established in this country a decade ago to bring cost advantage, generate economies of scale and intellectual arbitrage. Visionaries are happy today that what they dreamed has proved and saved the world to a greater extent.
What made India the destination?
Economic Indicators
What companies look for in selecting an offshore location is the economics of the destination? India with a GDP of 9 to 10% proved to be the emerging economy for any company to kick start their operations. In the deepest recession visible in 2008 due to global financial crisis, India showing resilience to this and growing at 8 to 9% annually is a practical example of why India is ahead of other countries as Outsourcing destination.
Geographical Indicators
Indian placed in the safe geographies of the world with decent climate has been an attractive place to live and work. There has been a limited scope for natural calamities in India compared to the rest of the world.
Knowledge indicators
With knowledge pool of 500 million and strong education system proved India to be the destination for the future business place. Indians are present everywhere and there list is countless in fortune 500 companies. Today India has more SME (subject matter expertise) then anywhere in the world.
Employee costs
India with a rich knowledge pool and cost advantage as always proved to the destination for intellectual arbitrage.
Language Skills
English part of the curriculum and the medium in Indian schools helped India maintain an edge over the other Asian and Latin American countries.
Politics
Governments in India have always provided a stable ruling and investor friendly climate to attract overseas investments. The government has developed several SEZ (special economic zones), I.T parks, Regulating authorities, Employment societies, infrastructure initiatives and education programs.
1. Brainstorm yourself and identify your strengths and weakness. Try to work out on weakness because most of the time the interviewer focus on weakness rather than strength. Overwhelm your strength at interview to shadow your weakness.
2. Before attending any interview knowing the requirements of the job is most important. Relate yourself to the job and identify how you are going to help the organization and yourself with the job. Recruiter’s focus will be on how interesting you are towards the role and your skill set for the position.
3. Knowing the company before the interview is the basic ground work any interviewee should do: like its products, services, competitors, history, size, location management.
4. Prepare for the common questions which are asked in interview.
5. After the interview don’t forget to clarify the questions revolving in your mind. This is the time to inquire about the nature of the work, the working conditions, working hours, training programs given to employees, chances for career growth and advancement, and any other points that may have not been covered yet. Questions pertaining to salary or benefits are never discussed at an interview unless the interviewer introduces them. You may ask these questions after the job is offered to you, and before you accept.
6. Personal appearance is most critical in the interview room and the easiest one to practice. Try to groom yourself professionally.
7. Know the interview venue beforehand. Find out the exact time and place for your appointment and program yourself to allow for emergencies, such as a traffic jam. If you are unfamiliar with the location where the interview will take place, you should check it out beforehand
India is emerging as one of the biggest nation on broadband usage and the highest number of mobile users in the world. Credit goes to the strength of the infrastructure and the vision of the nation which changed its destiny in this decade. While the rest of the world is seeing recession, opportunities in India are still vibrant with new infrastructure and development activities taking new miles. As more individuals will start using the telecom and internet services, more job opportunities will emerge in these sectors.
As per research Telecom and internet vacancies in India have grown 30 to 40% more in 2008 with more businesses going online. In 2008, statistics showed that nearly 70 to 80 million of the population of India are using the Internet and 300 million mobile users to become the third largest user of internet services and mobiles in the world. To support the above facts, more jobs are opening in the telecom industry to meet the growing demand for Internet and telecom infrastructure, particularly high-speed infrastructure.
Finding jobs in the telecommunication industry in India isn’t as difficult as you might think. As new technology opens new doors and creates all new telecom vacancies. The challenge, however, can be in finding those telecom vacancies when they exist. All a job seeker need to do is to visit the career pages of these companies from time to time to find openings.
Operators in India:
• Bharti Televentures
• BSNL Data Access
• MTNL
• Reliance
• VSNL
• Vodafone
• Spice
• Idea
• Aircel
• Tata teleservices
Jobs in banking and financial services is holding high even in times of recession shadowing globally, If this market holds up then 2009 will be optimistic for job seekers.
Recruitment climate: India is the best place to find opportunities in investment banking at this point of time with more global outsourcing happening and more big IB’s moving to India for their captive units. TCS takeover of Citibank back office operation is a classic example of how the business structure is evolving and hope we can witness similar acquisitions in this space in 2009.
College climate: In the campus recruitment space software jobs are replaced by recruitment in BFSI (banking financial and insurance sectors) with more commerce graduates placing into MNC’s with big packages. It’s no longer a surprise to hear of an MBA package at the mediocre college at Rs. 20,000, this can be reflected in the seats fill up at engineering and commerce colleges where the latter seats are filled first before anything else.
Hot Jobs in India
1. Commodity Research. There’s a huge shortage of people in commodity research at the moment as there hasn’t been much history for regularized commodity market in India.
2. M&A. India being the destination due to intellectual arbitrage will be a strong market in the days to come in the M&A space.
3. BOND market. The Bond market was not significant all these days but the current financial turmoil can create high volume of jobs in this arena.
Every fresher’s day starts with Logging into naukri.com, monster.com or job search engines like jobmixi.com to find new job openings across Indian cities. The interesting figures from ASSOCHAM reveal how job market is spread in different cities in India.
Below are the cities with ranking and job share.
|
Rank |
City |
Job % share |
|
1 |
Mumbai |
18.52 |
|
2 |
Gurgaon, NCR |
15.41 |
|
3 |
Delhi |
11.55 |
|
4 |
Bangalore |
10 |
|
5 |
Pune |
8.9 |
|
6 |
Chennai |
8.8 |
|
7 |
Hyderabad |
8.1 |
|
8 |
Lucknow |
6.61 |
|
9 |
Kolkata |
6.49 |
Interesting fact is that Mumbai is still on the top of the list with finance jobs with Gurgaon second leading with BPO and I.T jobs. Recruitment in south Indian cities is slowdown with slump in I.T and banking sectors. Kolkata with an edge on cost is still 9th on the list with no change from the previous years.
Believe the above list might help freshers in targeting their jobs appropriately.
Millions of young graduates are passing out every year from colleges in India. The big question that arises in everyone’s mind is that if the government is prepared to provide jobs for all of them? Are the companies based in India are able to accommodate all these freshers? Global financial meltdown has created a panic across the world in the job market but we see no such traces hitting Indian market. All the big MNCs are hiring new talent and the opportunities are vibrant in the Indian metros.
New Delhi, Mumbai, Hyderabad, Bangalore, Chennai are the metros where hiring is a never ending story with fresh recruitment happening presently. Recruitment in KPO areas like banking and financial services is the present buzzword in the job market and this is good news for all the fresher’s in commerce. In the tier 2 cities where there is no significant recruitment happening, likewise we don’t see much of layoff also.
With new infrastructure activities taken by the fortune 500 companies in the Indian metros, it certainly throws the light that there will be more outsourcing going to happen in the coming days and can see a buoyant job market.
India considered as a developing country in late 90’s as emerged as one of the strongest nation in this decade and it has shown enough strength in terms of GDP and job growth rate in times of deepest recession hitting the world this year. Thanks to the financial planning and future insight of the intellectuals who are leading this nation.
With new financial district coming in Hyderabad and huge construction activity by largest banks send a positive message to the young graduates that there is growing prospects for the career in banking and financial services. As per the estimates there will be 2, 00,000 new job openings in the financial district by 2010. Likewise the outsourcing in BPO and KPO is significantly increasing its horizon day by day and can be visible by the way the big companies are recruiting. Technology is slow right now with the global financial crisis but as more bailouts ease and the Obama govt takes charge we might expect the normalcy in the next coming months.
Jobs depending on the domestic market are significantly growing in Pharma, Healthcare and Insurance and agri sectors. India visibly will be the future market for jobs in pharmacy and we can expect more outsourcing happening in this area. Likewise we can see the CPO (civil process outsourcing) growing in the Indian market with significant business coming from Middle East market.
On the whole we can say that the future of Indian job market will be vibrant with more fresh recruitments.
Resume conveys 70 to 80% of what a job seeker is up to; still many job seekers make blunders which can never be forgiven at first instance. All it takes is 15 more minutes of his time to avoid this blunder not to happen.
1: standard resume for all jobs and posts:
Using the same old resume for all kinds of jobs and positions is the single biggest mistake any job seeker can do, to avoid this we need to have several sample resumes tailored for the jobs and positions for which we are applying.
2: using proper keywords in the resume:
Every resume is a collection of words and the only way the employer gets to your resume is through search done on different career boards and job sites. If your resume is not having the keyword which the recruiter is looking for your resume will never be short listed. So make sure you have all the right keywords which recruiters use to search for job seekers are added to your resume.
3: No thorough proofreading
A resume full of mistakes suggests you care neither about the quality of your work nor the impression it makes. An employer wants someone who produces exemplary work and will be an excellent representative of the company. So please make sure your resume if proof read and by the way it takes 2 minutes of your time to do this.
Lehman brothers bankrupt, leading global banks bailed out, billions of tax payers’ dollars spent on reviving the economy what next. Is the financial crisis ended or will there be more such happenings in the near future, this is back of every job seeker and looser across the world.
India is resistant to all this, thanks to the strong economy and the knowledge pool. In the next coming months there is lot of fresh recruitment coming to offshore from these leading banks in the Banking, Financial Services and Insurance sectors. Why because, the best arbitrage for cost and talent is available in India only. We can find new captives under construction in Hyderabad, Noida and Chennai in the BFSI sector, which means more jobs to India.
With the global meltdown and fall in the financial markets the biggest hit are the emerging countries like India, Brazil and Russia. India been home for the software engineers is finding hard to create more jobs for its young pass outs from thousands of engineering colleges. More than this the experienced professionals are finding hard to survive in this job market “never know who will be sacked “. Fortunately Indian economy is 70% dependent on agriculture is saving the GDP of the country and still there are no traces of recession.
In the coming days believe more jobs will be created domestically on life science, biotechnology, education, infrastructure and entertainment arena. On the outsourcing font the job market will be vibrant on the BPO jobs and KPO jobs were the expertise and job pool is emerging. The cities to focus for jobs will be Hyderabad, Chennai and Pune where the new captives are coming and expected recruitment in software, telecommunication, BPO, KPO, healthcare is approximately 1.5 million jobs by 2010.