Also, out of the 21 sectors reviewed by TeamLease, over eight sectors will witness a 9-11% points rise in their intent to hire in the current quarter.
“Indian economy has been regaining the lost ground and the same was reflecting in hiring as well. Be it the IMF, OECD, or Fitch all have been positive, and this was bolstering the business sentiment and the intent to hire," said, Ms. Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services.
Chakraborty however, added that if we resort to lockdowns, it will derail and further delay the recovery. The intent to hire will grow from 27% point (Jan – March 2021) to 34% point in the current quarter.
Attrition levels have plummeted across sectors with the onset of Covid, and are likely to remain so for the foreseeable future.
According to the report, healthcare and pharmaceuticals, educational services, eCommerce and technology start-ups and IT are the key sectors that are likely to ramp up their talent pool.
In fact, more than 58% of the corporates in the healthcare and pharmaceuticals sector (which is nearly 11% points higher than the period Jan-March 2021) are keen on hiring talent.
Educational services, eCommerce and technology start-ups and IT have also indicated similar enthusiasm with 55% (12%-point growth), 51% (10%-point growth), and 50% (11%-point growth) of the companies expressing intent to hire.
While there is an overall positivity, power, and energy, BPO/ITeS, Media and entertainment consulting, marketing and advertising, travel and hospitality may take more time to reach the kind of intent to hire enthusiasm that the other sectors are expressing.
From a geography perspective, while metro and tier 1 cities (32%) take the lead in terms of overall intent to hire, with 9% increase each, tier 3 cities also are not far behind, having witnessed a 5%-point increase.
Barring Kochi, Coimbatore, Nagpur, and Kolkata most of the cities have expressed growth in keenness to hire. With regard to functional areas similar to the previous quarter, sales (41%) and marketing (34%) continue to be the most sought-after functional roles.
However, when it comes to hierarchy the preferences seems to have changed substantially. The intent to hire senior-level talent has dropped by a 4% point over Jan-March 2021.
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