Slowdown in pace of online hiring: Monster.com
Overall, across 27 sectors that Monster tracks, online hiring trends in April grew 28% annually, lower than 42% registered in the sequential month, March
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Hyderabad: Online hiring in manufacturing and production fell 7% from March to April, continuing the trend of falling growth since January 2016, according to an employment report by the US-based job search portal Monster.com.
“Online recruitment activities in this sector have been charting a negative growth consistently since January 2016,” Monster said. The year-on-year growth rate has declined from a dramatic 112% in October 2015 to 15% in April 2016.
Overall, across 27 sectors that Monster tracks, online hiring trends in April grew 28% annually, lower than 42% registered in the sequential month, March, according to Monster Employment Index (MEI).
“The MEI reveals a relative slowdown in the pace of online hiring,” Sanjay Modi, managing director of Monster.com (India/ Middle- East/ South East Asia/ Hong Kong) said in a statement. “However, currently the scenario is a bit cautious when it comes to hiring. The production and manufacturing industry is yet to see the hay day but the concept of Make in India is appropriately towards greater employability,” he added.
Information Technology (IT) was the top hirer in the country for sixth month in a row, growing by 63% followed by printing and packaging industry which registered a growth of 60% since 2015.
However, it’s not all good news for the IT sector. The annual pace of growth eased 13 percentage points between March and April 2016. The growth momentum of the BPO/ITeS sector also slowed by 19 percentage points in April compared to the previous month.
Automatization of some basic IT functions using bots, artificial intelligence or deep learning systems seems to have impacted hiring at lower levels in the sector, the report said.
“Although, the IT sector continues to lead across all segments, the industry is low on the earlier vigour. The bearish response towards recruitment activities can be attributed to the shift from dependence on manpower to increase reliability on mechanization at the lower levels, especially in the IT sector,” Modi said.
Online hiring in the e-commerce sector showed mixed results. Despite the current gloom, e-recruitment activity in the e-commerce sector exceeded the corresponding period a year ago by a robust 34% even as both the three-month and six-month growth rate of the sector moderated; there was no growth from the previous month.
Education (up 57%), media and entertainment (up 47%); healthcare, bio-technology and life sciences, pharmaceuticals (up 40%) are among the top performers in April in terms of annual online hiring growth rates. However, the growth momentum, compared to March 2016, has eased in each of these sectors, according to Monster data.
Monster, which competes with Naukri, TimesJobs and Shine among other job portals, has been conducting monthly analyses of online hiring trends since May 2010. Monster Employment Index’s underlying data is validated for accuracy by a third party auditing firm, Research America Inc.