Most opportunities emerge in sectors least affected by covid-induced curbs
While hiring intent can change in future, the top-ranking sectors in the survey are expected to do the bulk of their hiring in the next six months
India’s formal jobs market seems to be stabilizing and hiring is expected to pick up over the next six months, but the recovery seems to be uneven with most opportunities emerging from sectors that were least affected by the coronavirus lockdown.
Several industries such as education and healthcare are expected to lead the way in fresh recruitments as the spread of covid-19 and the lockdown have led to a sharp spike in demand, according to a survey of hiring intent of 300 respondents across 16 sectors by staffing company Teamlease.
While the pandemic has forced many firms to downsize, a few industries are also benefiting from the changed realities of the post-pandemic world. Firms that expressed their intent to hire soon include those in healthcare, online education, e-commerce and consumer goods. However, hiring by airlines, hotels and many manufacturing companies will likely remain anaemic.
Teamlease defines hiring intent as the percentage of hiring managers planning to recruit in the near future and does not indicate the volume of hiring. “The current circumstances don’t lend itself to any comparison with the past when it comes to future of employment. We have to make do for now with the optimism simply around various businesses intent to hire rather than the quantum of hire," Rituparna Chakraborty, co-founder and executive vice-president at Teamlease.
While hiring intent can change in future, the top-ranking sectors in the survey are expected to do the bulk of their hiring in the next six months. As many as 33% of healthcare and pharma hiring managers surveyed said they intend to hire soon. The education sector has also seen a sharp uptick in e-learning solutions, with many looking to upskill, leading to a surge in demand for remote learning solutions across segments. Here, 27% of respondents remain optimistic about hiring new employees.
Firms in packaged consumer goods and farm equipment are likely to feel more confident about hiring as demand has either neared the pre-covid level or have exceeded it.
Even as a demand revival takes hold, intermittent and localized lockdowns have disrupted manufacturing and supply chains. The e-commerce sector ranked No. 3 on hiring intent. The sector is expected to add a significant number of jobs with 26% of hiring managers responding in affirmative.
Likewise, a good monsoon and the government’s increased allocation to rural employment schemes is expected to create a diverse range of jobs in the rural sector.
The FMCG sector also features prominently among the top job creators followed by information technology, energy and retail sectors. “Despite a current bleak outlook, hiring will certainly pick up in the coming two quarters," said Vivek Dilip, group director of talent mapping and staffing solutions firm O&G SKILLS.
In terms of hiring intent, large firms remained the most optimistic, with 61% of respondents keen to hire, followed by medium-sized firms and startups.