Entrepreneurial Bug Biting Corporate Executives

India is known worldwide for its talented manpower and this is why all the countries import human resources from India. Some of the biggest organizations of the world have Indian employees at managerial aab sabkond directorial levels. Realizing their own potential, corporate executives in India are now beginning to set up their own businesses apparently bitten by the entrepreneurial bug.

Entrepreneurship is the most widespread phenomenon in our country as young professionals believe in utilizing their talent in their own start ups rather than working under others. One needs to have an unusual business idea and should be willing to take risks to start an enterprise from the scratch. For some, the drive starts early i.e. from college years and for others, it takes few years of corporate experience to take the plunge. It is interesting to note that more than 90% of entrepreneurs have worked in an organization before making the move out of which nearly 70% have an experience between 0 to 5 years.

According to the ET-Synovate Entrepreneurship Survey, all those who switch from corporate careers to entrepreneurship already have a business idea in their minds. Almost 85% respondents said that they made the shift when they could no longer hold back their urge to implement the idea and be their own boss. Most of them were pushed to quit either as they had to work on ideas they did not agree with or because it could lose effectiveness if delayed. The major problems faced by the upcoming entrepreneurs were mostly related to funding, convincing business partners and lack of family support. The trends show that even as almost 60% of them got support in form of mentorship or incubation, others preferred being their own mentors. The rapidly spreading bug of entrepreneurship is surely etching various success stories.

Jobs Flooding in India

The industry behemoths are back to business with massive hiring beginning in full swing this year. With the economic revival comes a great year for MBAs as the times of hiring freeze gets over. Even though, the recruitment season at top B-schools commenced with cautious optimism, it surely has ended with a strong economic rebound.

All the major national and multinational companies seem to have launched a recruitment drive. From technology giants, Infosys Technologies and Cognizant to finance companies, ICICI Bank, Citigroup and YES Bank; from BPO majors, Genpact, Wipro to national companies like Tatas, Hindustan Unilever, Procter & Gamble, ITC, Britannia, and Johnson & Johnson to international consulting biggies like McKinsey, Accenture, Deloitte and Boston Consulting Group (BCG)-all are hiring.

After looking at the data received from 13 top management institutes, it is clear that not only numbers but quality jobs are back. Recruiters emphasize on the fact that hiring blitz is an actual part of their overall growth plan rather than a bold proclamation of survival. Though experienced MBAs were preferred, even first-timers were able to land with many opportunities. The rise in salary packages could be noticed too with a hike of 25% on average for the Class of 2010.

As preferences and demands of recruiters have changed over years, a shift in student’s attitudes could also be seen this time. They could now look beyond pay packets and foreign posting is not an obsession for young professionals anymore. They have matured into prudent individuals taking sensible decisions based on quality of the job and culture of the company.

War talent in India is definitely gaining momentum propelled by resurgence of hiring optimism. The frozen job market until last year has been phenomenal this year with almost bullish hiring by companies across various sectors.

Indian Employers are Hiring!

According to a survey conducted by Ma Foi Consultants on Employment Trends, more than a million new jobs are set to enter the Indian job market in 2010-11. The announcement by naukri.com saying ‘Jobs are Back’ holds full credibility and conviction in this context. This survey was carried out among a thousand companies across 11 industries to know about their recruitment plans till the end of year.

Healthcare:

This sector is set to create maximum number of jobs that amounts to a whopping 3

lakhs. In spite of the global recession, Indian pharmaceutical and healthcare industry

kept growing and increasing manpower. Furthermore, efforts are being made to

add new hospital beds and to expand the areas of super-specialty healthcare, insurance

facilities and medical tourism.

Other upcoming sectors with highest number of employment opportunities are Hospitality & Travel and Real Estate & Construction with around a lakh and half jobs. IT and ITES sector comes next with at least a lakh jobs while becoming fourth largest sector in job creation.

BFSI:

The sector of Banking and Financial Services (BFSI) is expected to witness vacancies for nearly 50, 000 positions due to the retirement of around 35% staff by year end.

Education and Training:

There has always been a lack of schools and teachers in India as it houses world’s largest

student population. With an up-swing in education sector, jobs for more than 80, 000

teachers and trainers will be generated.

Other sectors providing substantial jobs include:

-Energy generation & supply and Trade industries with 15, 000 jobs;

-Transport, Storage & Communication with around 30, 000 jobs and

-Manufacturing sector with 68000 jobs.

It is also observed that tier-II cities showed better signs of revival than the bigger ones. Employers are definitely headhunting for the right talent again, try your luck too!