The euphoria is not just restricted to entry-level talent, the intent to hire junior level hiring is also on a positive trajectory indicating the second quarter to be dominated by volume hiring
MUMBAI: Easing of restrictions on economic activity coupled with an increasing focus on ramping up operations and sales by businesses is having a positive impact on the hiring of freshers, states Teamlease Employment Outlook (July- Sept 2021).
According to the report, the intent to hire freshers has increased by 7% in the current quarter. The euphoria is not just restricted to entry-level talent, the intent to hire junior level hiring is also on a positive trajectory indicating the second quarter to be dominated by volume hiring.
In fact, from a hierarchal perspective while the growth rate of intent to hire freshers is the highest, with 32% it is the junior level hiring that is leading in terms of overall intent to hire.
“Most of the industries seem to have overcome the impact of second-wave and are moving towards growth. In fact, the focus of industries on profiles that are at the execution level is an indication that businesses have got their strategy as well as plan in place and this trend of positive momentum is here to stay," said Rituparna Chakraborty, co-founder & executive vice president, TeamLease Services, adding that with the festive season around the corner, most of the sectors would want to put the season to maximum use and this also a reflection why there is a significant rise in demand for freshers and junior talent.
TeamLease Employment Outlook Report is a forward-looking study reflecting the hiring sentiment across 14 cities and 21 sectors like Educational Services, Information Technology, Healthcare & Pharmaceuticals, E-commerce & Technology Start-ups, Financial Services, Manufacturing, Engineering & Infrastructure, Knowledge Process Outsourcing, BPO / ITeS, Telecommunications, and Fast-Moving Consumer Goods, among others.
According to the report, the growth in the GST collection, e-way bills, vehicle registrations, electricity demand, rail freight, and petrol consumption seems to indicate that the economy has started to recover from the impact of the second wave and this seems to be having a ripple and positive impact on the hiring sentiments as well.
Though the growth percentage is not as high as the previous quarter the intent to hire is positive. There is a 4% rise in the intent to hire in the current quarter compared to last quarter. It has moved from 34% in April-June’21 to 38% for the period July-Sept’21. Apart from the Americas region, India is the only market that has indicated a 4% growth in hiring intent.
The positivity in the intent is largely dominated by Healthcare & Pharmaceuticals, Information Technology, Educational Services, Ecommerce & Technology startups, Fast Moving Consumer Goods, Agriculture & Agrochemicals, Retail [Essential], Logistics and Manufacturing, Engineering & Infra.
With regard to geography, metros with hiring intent as high as 49% and an 8% growth compared to last quarter, seem to be taking the lead. The only laggard is the rural areas, which registered a 2% drop in intent to hire.
And amongst cities, Bangalore continues to take the pole position with an 8% increase in the intent to hire. The other cities that will contribute to the positive hiring sentiments are Delhi, Hyderabad, Chandigarh, and Mumbai. The cities wherein there is a drop in hiring intent are Coimbatore and Indore. Though marginal there is a 3% drop in intent to hire in both the cities.
From a business size point of view, while large businesses are leading in the overall intent to hire with 44% of the employers indicating intent to ramp up their hiring, it is small businesses that are exhibiting significant growth in the intent. The intent to hire by small businesses has grown by 6% whereas large businesses have indicated only a 4% growth.
The survey covers 661 small, medium, and large companies across 4 geographical areas [Metros, Tier-1, Tier-2&3, and Rural], 4 hierarchical levels [Entry, Junior, Mid and Senior Levels], and 7 functional areas [Sales, Marketing, Information Technology, Engineering, Office Services, Human Resources, Blue Collar].
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