In 2023, India job market will be full of mixed opportunities and will focus on upskilling

With telecom and services-oriented sectors expected to speed up recruiting after recent bleak months of pink slips in the technology sector amid global economic turmoil, job seekers are likely to have a mixed bag of opportunities in the New Year.

According to experts, businesses will emphasize creating work-life integration cultures, nurturing specialty talent, improving skills, and offering flexible work schedules as short-term opportunities increase. Experts also predicted that organisations wanting to increase internal talent mobility will be one of the big trends in hiring for 2023.

Things won't be completely bleak in 2023 after 2022, particularly the second half, which reverberated with reports of huge layoffs and a hiring freeze amid pandemic-related economic setbacks.

According to a survey from the recruitment business TeamLease Services, India's recruiting attitude for the services industry was high in the third quarter. This year, new labour market trends include a focus on measures to reskill and upskill workers developed. Companies are going to be willing to pay more for relevant talents than for legacy capabilities in 2023, according to these trends.

While recruiting in the tech sector was 18% lower in October of last year than this year (Naukri Research), the New Year is not anticipated to deliver any further shocking surprises as organisations seem to have already made crucial decisions. Achal Khanna, CEO of SHRM (Society for Human Resource Management) India, APAC & MENA, stated, "The focus now will be on developing a steady but impactful pipeline and here nothing will reward candidates as highly as investing in core skill development."

After Meta, Twitter, Microsoft, Snapchat, and numerous other IT companies announced significant job layoffs due to recessions concerns, the Indian job market is experiencing pressure, particularly in IT services. Due to macro uncertainties, hiring in the IT sector is predicted to move slowly. Experts predict that future additions will be few because organisations already have enough personnel on hand and will instead concentrate on reskilling their current employees.