Pandemic boosted job opportunities in the healthcare sector. 42% of India’s healthcare and life sciences companies expect an 8% headcount increase in 2021.
Healthcare, positioned at the forefront of the pandemic fight, witnessed a record spike in hiring across the sector. According to Professional recruitment services firm, Michael Page India’s ‘Talent Trends 2021 Report’, with a focus on the healthcare industry signals a stable recovery in recruitment activities in 2021.
The government’s focus on “Aatmanirbhar Bharat” or “Self-Reliant India Mission”, and its objective to roll out more conducive guidelines for API manufacturers will set the stage for this industry’s growth in 2021 through to 2025. This will lead to rapid creation of new job opportunities, thus increasing recruitment activities within the sector.
As a result of the pandemic, there has also been renewed interest and increase in funding within pharmaceuticals, API and diagnostic companies all looking to build and strengthen leadership teams. With an optimistic view on business recovery within the sector, existing setups will also see ramping up of investment and hiring activities in key areas such as research and development.
Nupur Mehta, Associate Director of Michael Page India, says, “During the pandemic, we saw a significant spike in hiring within vaccine companies. We expect continued volume of hiring activities within the segment as well as further training and nurturing to retain high-potential talent. The healthcare sector is poised to witness significant growth across segments especially, pharmaceuticals and diagnostics. “
Remuneration increases are also anticipated to attract new hires across the healthcare and life sciences sector in India with employers offering salaries 15-20% higher than the last drawn. 45% of healthcare and life science firms anticipate giving out more than one month of bonus to retain existing talent.
The sector will witness active recruitment activities with 69% of healthcare and life sciences professionals actively seeking other job opportunities and another 27% passively open to new roles. Lack of growth opportunities appears to be the key reason to seek other opportunities, with 49% professionals stating professional development as one of the key reasons for accepting a job offer in 2021.
In addition to recruitment insights and industry analysis on the healthcare market, the report also shares new insights across the Indian and Asia Pacific market for other sectors such as technology, BFSI and real estate supported by insights on digital readiness, organizational structure, flexible working, leadership, performance management, as well as diversity and inclusion.
