A Positive Hiring Trend in the Sunrise Sectors, After Long!!!

A Positive Hiring Trend in the Sunrise Sectors, After Long!!!

CEO Insights Team, 0

As India Inc. is set to mark the first anniversary of the COVID-19 induced lockdown in Mar’21, talent demand seems to be stabilising in the sunrise sectors. The talent demand index gained seven points in M-o-M analysis (105 in Jan’21 to 112 in Feb’21) and 14 points in Y-o-Y analysis (98 in Feb’20 to 112 in Feb’21),says Times Jobs RecruiteX.

The Y-o-Y talent demand trend is largely led by IT/Telecom (44 percent), BFSI (11 percent), Petro chemicals/Oil & Gas (10 percent), Projects/ Infrastructure (10 percent) and ITeS/BPO (7 percent) sectors. Interestingly, talent demand in Healthcare/Pharmaceuticals sector remained stable and Automobiles sector recorded two percent growth.

The M-o-M talent trend painted a rosy growth story backed by Healthcare/Pharmaceuticals sector which recorded 28 percent growth in Feb’21 after witnessing a 40 points drop in the demand index in Jan’21(90) over Dec’20 (130).

In Feb’21, all top 10 industries except Retail and Consumer Durables/FMCG sectors reported single to double digit growth. In fact, the IT/Telecom sector demand index touched its alltime high of 157 points since 2010. Talent demand in the Automobiles sector also rebounded after a quarter of decline (Nov’20 to Jan’21).

In location-wise analysis, IT hubs Bengaluru and Hyderabad recorded double-digit growth in Feb’21. Interestingly, both locations reported drop in talent demand in Jan’21. Chennai and Delhi NCR reported 12 percent and 4percent growth in talent demand, respectively. Ahmedabad emerged as the highest gainer with 25 percent growth in Feb’21 over 22 percent drop in Jan’21.

All major functional areas except Quality/Process Control and Supply Chain Management/Procurement
reported growth in talent demand in Feb’21. Customer Service/Tele Calling, Front/Office Administration and HR professionals witnessed double digit growth in talent demand.

Demand for senior professionals with 20+ years of experience and 10-20 years of experience rose by over 30 percent and 16 percent, respectively. Both work experience brackets had a steep double digit decline in Jan’21. Middle level professionals saw a slow growth in demand after a high traction in Jan’21. Demand for freshers reported a 4 percent decline in the said period.

Elaborating on the findings of RecruiteX Feb’21 edition, Sanjay Goyal, Business Head, TimesJobs and TechGig said, “As per the data trends, it’s becoming clearer that India Inc. has learnt to sustain and grow in the COVID-19 era. Post the budget announcement, a positive sentiment has been noticed in the development-related sectors such as Projects/Infrastructure, Construction/Cement, Oil & Gas, and Manufacturing & Engineering. The Y-o-Y talent demand trend has shown that the COVID-19 year has not pushed India Inc. backward, rather its marching on a growth trajectory”.

Sector wise M-o-M talent demand analysis:
•Healthcare/ Biotechnology/ Pharmaceuticals: 28 percent
•Projects/Infrastructure/Power/Energy: 22 percent
•Petrochemicals/ Oil and Gas/ Power: 19 percent
•Construction/Cement/Metal/Steel/Iron: 18 percent
•Automobiles/Auto Component/Auto Ancillary: 15 percent

City wise M-o-M talent demand analysis:
•Ahmedabad: 25 percent
•Hyderabad/Secunderabad:16 percent
•Bengaluru/Bangalore: 13percent
•Chennai: 12percent
•Delhi-NCR: Fourpercent

Functional area wise M-o-M talent demand analysis:
•Customer Services/BPO/Tele Calling: 17 percent
•Front Office/Administration: 11 percent
•HR/PM/IR/Training/ T&D:11 percent
•Accounting & Finance: Seven percent
•IT/Telecom: Six percent

Work experience wise M-o-M talent demand analysis:
•Over 20 years of work experience: 43 percent
•10-20 years of work experience: 16 percent
•Two-five years of work experience: seven percent
•Five-10 years of work experience: two percent