India’s BFSI Sector Poised for Transformative Growth in 2024: Embracing Technology, Talent, and Diversity

NEW DELHI, Feb. 9, 2024 /PRNewswire/ — The Banking, Financial Services, and Insurance (BFSI) sector in India is gearing up for a year of dynamic transformation, driven by robust technological advancements, talent acquisition strategies, and a steadfast commitment to diversity and inclusion. Building upon the remarkable growth witnessed in 2023, where the Indian banking industry recorded a staggering 31.57% year-on-year growth, the sector is primed to sustain its momentum into 2024. As per India Decoding Jobs report by Taggd, it highlights key drivers propelling this growth trajectory and outlines strategic imperatives shaping the industry landscape.

Banking and Finance Sector at a glance

Technological Innovation and Digital Transformation:

a) BFSI sector leading India’s digital revolution with AI, ML, blockchain, and cybersecurity.

b) Notable shift to digital transactions and rise of FinTech driving inclusive growth and expanding banking access.

Talent Acquisition and Diversity Initiatives:

a) BFSI intensifying efforts to attract skilled talent, emphasizing diversity and inclusion.

b) Increased demand for digital experts, gender diversity programs, and people analytics shaping HR practices. 

Hiring Intent and Workforce Dynamics:

a) Anticipated 28% growth in BFSI hiring for 2024, focusing on fresh talent and tech-savvy professionals.

b) Efforts to enhance gender diversity and recruit talent from diverse locations, with metros as key hubs.

Way Forward:

a) Focus on technological advancement, talent acquisition, and diversity initiatives for BFSI sector’s success.

b) Commitment to fostering innovation and inclusivity supported by government initiatives and partnerships.

About Taggd

Taggd, India’s Digital Recruiting firm, is revolutionizing talent acquisition with its industry leading solutions. Taggd combines data and human knowledge to provide businesses with ready-to-hire talent. Led by CEO Devashish Sharma, Taggd has over 15 years of experience, managing the recruitment process for 100,000 positions annually. Offering comprehensive solutions across 14 sectors, including technology, engineering, and automotive, Taggd delivers tangible business gains for clients. Trusted by prominent brands like Tata Motors, Mahindra & Mahindra, HPE and many more, Taggd’s expertise in recruitment strategies, talent network access, and data intelligence has solidified its position as a leader in the industry. Recognized by global analyst firm Nelson Hall, Taggd seamlessly blends human expertise with data-driven insights, empowering businesses to make successful hires and drive growth.



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