Mumbai: Demand for HR professionals in
the financial services sector will increase in the next
2-3-years, a senior industry official said.
"There is a huge opportunity for increase in the
financial services job volumes and a surge in the number of
temporary and contract HR roles in the sector by 2012-13,"
Karvy Stock Broking's Vice President, HR, M S Manohar, told
here today.
In the past, commercial banks were characterised by
their deposit-taking and lending activities, while investment
banks were characterised by their securities underwriting and
investment advisory services. But now increased competition,
technological change, and a chipping away at the regulatory
barriers have led commercial banks to expand their activities.
"These developments have generated widespread changes
in the financial sector. As financial institutions offer
increasingly similar services, we could expect the need for
under-resourced HR departments and the highest demand has been
for analytical, compensation and benefits professionals to
meet all requirements," he said.
"While the job flow does lie heavily within temporary
and contract recruitment, this increase is extremely positive
in a market that has been relatively stagnant for the majority
of 2009," Manohar said.
According to him, employers are awaiting clearer signs
that recession is fading so they can plan for growth in 2010
onwards, he said.
PTI
First Published: Wednesday, December 16, 2009, 20:45