Time to Expand NBFCs: Rise in Demand for Talent

 

rise in demand for talent

inancial service sector and non-banking financial companies are on expansion plans. The demand for top talenthas been growing in the BFSI sector which reported 2 percent increase in May 2015. The major cities and all state capitals are the growth hubs for NBFCs. The expansion is still going on in non-banking financial companies and there will be always a space for passionate people with right attitude. Experts predict that there will be huge openings for the roles of sales and customer services profiles. The growing needs of the industry also create opportunities for the supporting roles like HR and finance.

The major skills required for these positions include good communication skills, thoughts, knowledge of product and the industry. The other skills required are perseverance, high energy level, integrity and an aptitude for repetitive tasks will definitely help in succeeding in this industry. NBFCs companies are looking for  sales jobs with basic knowledge of financial models and financial analysis with different tools will be in more demand. Having great data analytical skills will be an added advantage to the candidates. The pay structure will differ from organization to organization. Operationally, the cost of funds is higher for NBFCs than banks. Some large banks may pay better for most of the roles but not for all roles. But candidate should know what companies are looking for and up skill to get eligible for the job opportunities.

Job growth prospects will be more in rural areas for BFSI sector. State capitals and major cities will be the growth hubs for NBFCs. To meet the demand they are recurring top talent from other industries also. Like hiring sales professionals from FMCG for financial product sales. Experts suggest that it will be easy to shift from banking to NBFCs as the both sectors are part of the same industry. Unlike banking NBFCs concentrate on very few products which are specific to the industry.

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