The pharmaceutical industry has been going through a series of troughs and peaks in the recent few years. Regulations like the Uniform Code of Marketing Practices (UCPMP) and price caps put by NPPA continue to pose a challenge to the industry.
At the same time, the year 2018 promises to be one where much will be consolidated. For instance, the CRO industry is slowly picking up due to better regulatory environment, streamlined approval process and slowly more clinical trials are also coming to India. Equally, in the months to come, while generic drugs may face tough competition, the biosimilar portfolio will grow. Also, companies will drive growth on therapy areas like cardio-diabetic and Onco.
In fact, there is more to anticipate on the pharma front. Companies are taking several strategic initiatives with the incoming of recent changes in regulations governing the pharma and medical devices industries, primarily to cope up with the loss of business revenue as in the case of recent caps in prices of stents and knee implants. The price caps are being seen to discourage manufacturers, mostly MNCs, from launching their premium products in India. Precisely the time has come for Indian manufacturers to come into their own. As of now, names like Sahajanand Medical Technologies, Meril Life Sciences and Sutures are expanding. Even though the skillset required to manufacture a technologically advanced product like stent remains a challenge, it is foreseen that the companies will put in steps to improve the quality of stents manufactured by local companies and even encourage them to develop more technologically advanced stents, which in turn will help the industry grow in the country.
The impact on recruitment
Manpower recruitment and retention gains a whole new meaning given the current scenario. As far as recruitment needs of the organisations are concerned, candidates with technical skills including in regulatory, clinical research, data analyst, R&D roles, will be in much greater demand since traditional sales and marketing processes are getting obsolete. For candidates in the fray, strategic and out-of the box thinking is the word for success and also stability along with communication skills due to coordination with multiple stake holders across geographies. Job hoppers are a strict no-no and interestingly, a recent trend in the healthcare sector in regulatory affairs domain is that the senior vintage RAQA professionals are slowly moving into consulting professions.
Mayank Chandra, Managing Partner, Antal International, gives an insight about the future recruiting trends in pharma sector. This article featured in Express Pharma Jan 01 – Jan 15,2018 edition. Here’s the online link to the story https://goo.gl/YPPHRu
NEW DELHI | MUMBAI: US President Donald Trump’s inauguration pledge to ‘Buy American-hire American’ has stoked interest in jobs back home from overseas Indians, who are increasingly reaching out to manpower consultants in the country to explore equivalent options.
Recruitment firms led by BTI Consultants, RGF Executive Search, Transearch, The Head Hunters, and Antal International have reported doubling of queries from US-based Indian professionals over the past few weeks as theRepublican winner to the White House race declares his policy stance after the January 20 inauguration.
Nervousness has also gripped Indian companies that have a significant US employee base: Hunt for Indian talent in the US are now joining the swelling list of cancelled mandates. Kris Lakshmikanth, chief executive of The Head Hunters (India), says that he has got some 30 calls until now from technology professionals exploring opportunities back in India, compared with practically no queries until just a couple of months ago. “This number is likely to increase even more in the coming days,” says Lakshmikanth.
Most of the queries, he says, are at the level of project managers and above – people who have completed three years in the US (after which one gets an H1B visa extension) or about the six-year period — and are unsure about whether they will get an extension of their visa or, alternatively, a green card.
Lakshmikanth cites the instance of a person who recently returned after his visa-tenure ended, and is unsure about his return. “He still has a house there bought on mortgage, but is being forced to look at opportunities here,” says Lakshmikanth.
Joseph Devasia, managing director at Antal International India, says that in the past two or three weeks, the number of queries seeking opportunities in India has trebled. “People are testing the waters to gauge what awaits them at home in case something goes wrong. Most of these people are at the $80,000-150,000 salary bracket,” says Devasia.
Other leading search firms such as Korn/Ferry and Heidrick & Struggles say search mandates are in a waitand-watch mode. They, however, say that Trump’s stance will impact the overall hiring sentiments across all Indian companies in the US.
For RGF, half a dozen searches have come to a halt after the Trump inauguration. “Companies are not sure about the dynamics of the US market. At least, 30% of job searches in the US have been impacted as a result,” R Suresh, Managing Director at RGF Executive Search, told ET.
One of RGF’s clients, a billion-dollar Indian IT company that was looking to hire a president for its outsourcing activities has temporarily called off its search. Another of its clients, an Indian pharma company, is holding on to its hiring decisions.
“The exodus from India will definitely stop. Hiring of Indians in the US will slow down at least for a year,” said Arun Das Mahapatra, partner incharge of Heidrick & Struggles in India.
“There is definitely an air of uncertainty across all companies that have some kind of connect with the US. It is a worrisome time for players in the space of IT, pharma and banking but this may last only up to a year or so as cost pressures will force companies to eventually look at India,” said Kiran Karnik, chairman, CII National Committee on Telecom and Broadband.
While Korn/Ferry International managing director for India, Navnit Singh, calls it the wait and watch phase, Transearch (India Office) managing partner Uday Chawla describes the Trump impact as “procrastination of decisions” in all sectors, leading to an increase in the cycle-time for searches.
With some good and not-so-good times, it is finally time to bid goodbye to an eventful year. As we prep ourselves for 2017, here’s a look at what 2016 was like for the HR domain
There are no doubts about the fact that 2016 has been a year of some path-breaking events and sharp twists and turns. The year has been productive and has also seen some downfalls. But as they say, all is well that ends well, and it is time to bid farewell to 2016. Here is a look at the top HR trends that redefined the people management function in 2016, enlisted by some experts in the field.
Summing up the year that is ending, Adarsh Mishra, CHRO Panasonic India, expresses, “The year 2016 has been productive from an HR perspective as the business climate within the industry has increased considerably. With the implementation of the 7th pay commission and a good monsoon season, we have seen the business ecosystem really expand wholesomely this year. This, in turn, augmented the recruitment process as well in the industry which also saw an increase in lateral hiring. Generally, consumer electronic companies elevate people internally to fill out the vacant positions across divisions, but with the growing competition in the market and expanding capabilities of doing business, lateral hiring was seen in full flow in 2016.
According to Mishra, some of the most relevant HR trends in 2016 were:
- Hiring through social media: Social media has become an excellent tool to drive business initiatives, they also enable HR to view over subjects which potentially couldn’t have been revealed during the course of interviews. Social media enables employers to get a glimpse of who candidates are outside the confines of a resume or cover letter.
- Risk takers: Playing it safe is no longer enough to help an employee get a job or stroll through the ladder of success in a corporation. Companies especially consumer tech companies which today function in an extremely competitive environment, now have to have a group of people with the intellectual ability and desire to take risks in crucial moments.
Naresh Sharma, managing partner, Antal International India shares his views on the growth trajectory of various industries in 2016, “India’s logistics and supply chain industry is witnessing a rapid growth in both, B2C and B2B domains. In the past year, we saw lots of e-commerce players getting their business on the growth trajectory and we have seen an increase in demand of professionals in supply chain functions. Though the sentiments in the e-commerce industry in the second half of 2016 saw a major downturn with hiring freeze by giants, there was a steady requirement by other players in the domain. Government’s ‘Make in India’ programme also is boosting sentiments in the industry and we have seen a positive traction in manufacturing including automotive. The retail sector has also seen demand picking up leading to enhanced activities in the manufacturing and distribution space.”
For Sharma, the top three HR trends of 2016 were:
- Business orientation of HR: HR is no longer considered a support function whose job is to only fill vacancies. We have seen HR getting more involved in the strategic thinking and being equal partner in planning for the future with business outlook. It was heartening to see many organisations analysing their hiring strategy as to how it impacts the business.
- Succession planning: Organisations are constantly moving towards having a succession plan in place not only for leadership roles but also for all key roles. There is greater awareness to the cost of discontinuity in important roles.
- Candidate-driven market: Organisations are increasingly realising that getting the right talent is the most important aspect of their business. They need to actively look for appropriate talent and need to realign their sourcing strategy in a candidate-driven market.
According to Thammaiah BN, managing director, Kelly Services India, start-ups that were the poster boys of recruitment in the past year went easy on volume hiring, particularly in the ecommerce sector. Most of the start-ups invested in hiring sales and marketing talent. “IT companies embraced automation in fullest measure possible this year leading to lower hiring particularly at the bottom of the pyramid. However, we are seeing continued significant demand from IT due to high levels of attrition (2 to 8 years work experience). The fall in oil prices meant banks put a squeeze on hiring. Pharma sector continued to be recession proof devoid of any impact. Traditional consumer and FMCG companies saw some talent moving to online retail.”
Thammaiah BN shares the top HR trends in 2016:
- The hiring model for fresh recruits in the IT sector changed due to the shift to non-linear growth models. Labour arbitrage has shrunk and the reputation of India started moving from IT outsourcing to analytics and product development.
- Retail, banking and healthcare sectors are increasingly offering flexi work options to women, which will lead to a significant rise in flexi staff workforce from 2.1 million to 8.5 million in the coming few years.
- With the rise of app-based companies, a gig economy on lines of US is on the rise wherein freelancers take up ‘gigs’ alongside their regular jobs or multiple gigs. Government initiatives like ‘Digital India’ will further fuel this trend. Acqui-hiring also gained traction among established technology companies and start-ups.
This article appeared in Times Ascent on Jan 18, 2017, it carries a quote by Mr. Naresh Sharma Managing Partner Antal International, Jaipur
Fintech startups are proving to be the biggest beneficiaries of the government’s demonetisation move and with the rise in business, recruitment plans of these companies are likely to see significant uptrend in coming months, experts say.
E-wallet companies like Paytm, PayU India, MobiKwik, and Freecharge have been seeing significant rise in GMV and the number of transactions since November 8 when Prime Minister Narendra Modi announced the demonetisation of Rs 1,000 and Rs 500 notes, making these notes invalid.
Experts believe that this move is going to positively impact the workforce and hiring needs of these companies. Besides, technology roles will now open up as these companies rush to meet the surge in transactions and there is likely to be a huge opportunity in other functions such as sales and marketing as well.
“We have observed unprecedented growth. Our user base has grown to 40 million and we have added 1,50,000 merchants, which makes us directly available at 2,50,000 retailers now,” Mrinal Sinha, chief operating officer at MobiKwik, said.
“Paytm and Mobikwik have already been in the overdrive to reach out to small traders to commence transactions on their platform and we do see a large number of roles opening up in this space,” Naresh Sharma, managing partner, Antal International, Jaipur, said. agencies
adding that “a number of other e-wallet companies do see this as an opportunity to expand and surely, the requirement of hiring would increase”.
Deals marketplace Little, funded by Paytm, Tiger Global, SAIF partners and GIC, Singapore, is witnessing significant surge in transactions, post demonetisation.
“Definitely, there will be increase in demand for talent, primarily for on-boarding and digitising the payment solutions for offline businesses,” Little CEO and co-founder Manish Chopra said, adding that “we are looking forward to ramp up the team size aggressively in coming months”.
Meanwhile, pre-paid solutions company Qwikcilver has seen significant traction in the pre-paid card segment.
Nearly 57% of HR heads and hiring managers covered in a survey on the impact of the ecommerce sector on FMCG talent have revealed that over the past three years the attrition ratio in their organisations has gone up. Around 61.2% also agreed that given the boom in the ecommerce sector, it has become a challenge to retain employees.
The survey was conducted by recruitment organisation Antal International Network India among 103 mid- and senior-level HR professionals across FMCG companies that have seen an exodus of talent to the ecommerce sector. Excerpts from the study shared exclusively with ET.
This survey has been conducted by Nishath Fathema Malvia as part of Certification requirements for Antal Certified Recruiter. This survey was published by Economic Times on Oct 28, 2016 https://goo.gl/qIyUHl
Festival season is here but this time around the celebratory gleam had sparked off even before this season set it. Ecommerce companies had flexed their muscles well in advance for this season, resulting in hiring of about 35 per cent additional temporary staff to cater to the festival consumer demand.
This, of course, comes with an anticipation that hiring and market sentiment will remain upbeat even after the festival season. This year started on a high note with startups taking the crown in jobs, entrepreneurship segment but with startups hitting a rough patch, both these segments have seen a stagnant sentiment too. Will this festive hiring kick start a fresh lease of activity in the employment sector? Will this year end on a high note or a rough patch?
We asked market insiders and their outlook seemed positive.
Festive season hiring detailed out
Joseph Devasia, Managing Director, Antal International Network, India feels optimistic about the entire scenario. “No this is not just for ‘festive hiring’ although the big sale days do need excess resources and the big ecommerce companies have already equipped themselves for the onslaught,” says Joseph Devasia.
Pranshu Upadhyay, Director, Michael Page India also had the same outlook. “Hiring at management level is typically set for long-term and strategic than just festive hiring. Ramping up of headcount ahead of big sale days where retailers pick up around 50% of their year’s sales is more common at the level of temporary hires. There are a lot of recruitment drives that are happening in metros as well to rope in delivery boys ahead of the festive sale. Companies want to be more prepared from an operational standpoint to handle large volumes,” he said.
Is festive hiring an ecommerce phenomenon or general?
“This is more for the bigger ecommerce companies, it is not wholly reflective of India Inc although there is positive movements generally across other sectors,” says Joseph Devasia.
Pranshu Upadhyay feels that though hiring activity has picked up in ecommerce allied sectors as well, some of the other sectors that see an upward trend in hiring are retail, consumer durables, FMCG and logistics.
The hiring sentiment for rest of 2016
“There seems to be positive sentiments although a lot does hinge on the how the K-crisis pans out as well,” advises Joseph Devasia.
Pranshu Upadhyay feels that the general employment outlook is positive for this year. “Organisations continue to focus on replacement hires however the companies closing their financial year in December are waiting for the end of Q4 to have clearer projection on new headcount. This will be aligned to the organisation’s 2017 targets,” he says.
This article was published in Timesjobs.com on Oct 06, 2016. http://content.timesjobs.com/festive-hiring-may-add-gleam-overall-job-scenario-heres/?fromsite=toi