Hiring Wave Is Back In 2024
Hiring Boom Means Opportunity Knocks
News came in December 2023 that the hiring in 2024 will be higher by 8–10% in Q1 in the IT sector alone.
And guess what? I can see the results already!
The inboxes of my colleagues have new openings almost daily and that is a good sign during these times when all we hear is layoffs.
Big data, cloud computing, artificial intelligence are the key drivers.
The growth is expected to be 12–14% in Q2 and Q4. There has been an increase in net profit through client renewals, new wins and rising investment in technology.
Electric vehicles (EVs) saw strong demand for talent in engineering, manufacturing, and research and development. Additionally, new jobs are being added in battery technology, charging infrastructure, and software development by the EV sector.
Additionally, retail and travel and tourism sectors, saw a 25 per cent uptick, while advertising, market research, and public relations sector saw an 18 per cent increase in the job roles.
How to make the most out of this boom?
- Be realistic about how much money you need in hand (and not the attractive CTCs)?
Calculate your expenses, any debts that you need to pay off. Also calculate how much will you make in the next 20 years if you start today. - Define the nature of job you want.
Do you want to switch cities or work remotely? Do you wish to have a startup of your own in future? - Do you have a mentor/ senior/ influencer you can look up to for inspiration and knowledge?
- Make a list of things you are:
a. good at
b. interested in
c. bad but still interested in.
While doing this, make sure the points you mention have a demand in the market and are not just for fun. - What are some skills that can help a tech business?
- List companies in India that already have a similar role.
- What is the average salary for an individual at your stage? And what is it for the top 1% in the same domain?
- Search for an individual who is in the top 1% of your niche and scan their profile.
You may not be able to earn their experience, degrees and certifications in the exact manner, but that could be your guide towards your preparation. - Go through the roles, responsibilities, projects and teams the person has worked with and search the same on the job portals.
The openings listed will have the requirements section where you will know what exactly you need to upskill into. Once you know this, there are plenty of resources to learn from. If the requirement doesn’t accept freshers, undertake an online project and show the same.
Focus on upskilling as it will help you automate your tasks and spend lesser time on mundane work. Make the most of cloud, data and software and be an expert in at least one of them.
Do this for the first half of 2024 and share your results.
