NBFCs to Expand their Hiring by 35% to 40%

Hiring activity in the non-banking financial companies (NBFC) sector is likely to expand by up to 35-40 percent in the next 12 months driven by rising innovation and growth, according to industry experts.

The ability of NBFCs to tap ‘unbanked’ customer base at a time when the banks are facing headwinds in coming out of the NPA mess is driving the growth in the sector, they explained.

Experts see increased hiring in tier-II cities for roles in sales, collection underwriting, and risk.

TeamLease head, recruitment services, Ajay Shah told that as banks are struggling to come out of the non-performing assets (NPAs), NBFCs are in a sweet spot of growing consumer demand.

“Ability to tap the unbanked customer base is the key reason behind this growth. Rising innovation and growth in the sector has resulted in new business models like Peer to Peer (P2P) lending platforms. The sector is expected to witness 35-40 percent growth in hiring in one year.”

The semi-urban and penetration into rural markets will generate more jobs in tier II to IV cities for candidates with a higher learning ability quotient, especially in the 0-5 years’ experience level, he said.

The demand for customer service, operations and credit and collection is quite high, where the focus is on getting quality people, he said. Other key segments that would be in focus would be information security and cybersecurity, he added.

Echoing the view, specialist staffing company Xpheno co-founder Kamal Karanth said NBFCs will create around 2,50,000-3,00,000 jobs approximately.