Talent Demand Continues To Rise In India
May 2019 is the fifth consecutive month since January 2019 to witness an uptick in the Y-o-Y comparison of the online hiring activities
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Job growth has been consistently picking up in recent months. Online hiring, particularly observed a 22 percent growth Y-o-Y and a 6 percent M-o-M gain in May 2019, according to TimesJobs RecruiteX.
May 2019 is the fifth consecutive month since January 2019 to witness an uptick in the Y-o-Y comparison of the online hiring activities. The report also highlights that April 2019 Y-o-Y performance (9 percent) is better than March 2019 (7 percent).
The Automobile and construction sector noted maximum talent demand in May 2019. The Automobiles sector is known as one of the strongest pillars of the Indian economy. Presently, the sector is witnessing new product launches, the advent of new international brands in India and is also gearing up for new policies that encourage the mass production of electric vehicles. The Automobile sector is witnessing a shift in its way of working as well. It’s no surprise that the sector claimed the highest talent demand in May 2019. Automobiles sector witnesses 3 percent talent demand in April 2019 but it improved and became the top sector with 15 percent talent demand in May 2019.
IT sector has picked up significant pace since the second half of 2018 (July-December 2018 period) and noted a 7 percent growth in talent demand owing to the diversification plans of most corporates. Leading Indian IT firms are diversifying by showcasing innovative ideas in new-age technologies like Blockchain and Artificial Intelligence. Their talent needs are also changing due to diversification. Delhi-NCR was the top job hub for all IT related job opportunities across junior, middle and senior management levels.
Healthcare/Biotechnology sector analysis- bullish on hiring
Healthcare/Biotechnology has been one of the highest talent recruiting sectors. The sector witnessed 12 percent growth in April 2019 over March 2019 apart from being the top three hiring sectors in March 2019.
Doctors/nurses were most sought after in April 2019, followed by Engineers and logistics professionals. The most jobs were posted in Jaipur, followed by Lucknow and Chandigarh. Among the metropolitan cities, Delhi and Bengaluru were the top job hubs. Overall, April 2019 saw decent growth, both in yearly and monthly comparisons.
Retail and BFSI sector
In July–December 2018 was a busy period for recruiters with most of them scouting for talent, as outlined by the TimesJobs RecruiteX Biannual report. Retail and BFSI were the top hiring sectors with 13 percent and 9percent growth in talent demand respectively. The rush in overall talent demand from July-December 2018 is a positive development and indicates that India Inc. has been in the hiring mode. Retail sector posted the second highest talent demand during the second half of the year. The momentum is expected to remain for some time.
Travel and Hospitality sector
Travel and Hospitality sector saw a 13 percent Y-o-Y growth in February 2019 as compared to last year but the overall Y-o-Y talent demand stood at 12 percent.
These reports were a positive reflection for India’s employment scenario which is usually dominated by the IT, Retail, BFSI, and E-commerce sectors. The fact that the Travel and Hospitality sector has observed steady growth in talent demand hints about the overall sector growth. The functional area-wise analysis reported that Hospitality recorded 28 percent growth in Feb 2019 in comparison to the previous month. This comes as good news for India Inc. which is struggling on the employment generation front.