Companies Likely To Upskill Staff Over Hiring: Experts

After taking a big hit from falling rate of economic growth in 2019, the job market may remain muted in the new year as well in terms of workforce expansion and salary hikes as more and more companies are expected to prefer up-skilling existing staff rather than hiring new ones, experts feel.

With the technology-enabled disruption continuing to play its part, companies have become far more discerning in terms of hiring and there is a marked shift in their focus towards making the best of the available human resources. “2020 is expected to stay flat in terms of employment or, at best, have a marginal growth. With the GDP and key economic indicators yet to pick up steam, it remains to be seen if consumption and/or investments will go up and, if they do, then we have hope for employment growth”, Indian Staffing Federation’s President Rituparna Chakraborty said.

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Across industries, the percentage of organisations indicating an increase of headcount has gone down. However, roles for the ‘right people’ continue to exist in the market, experts said.

Source: Deccan Herald

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