Outlook Of The Indian Recruitment Industry Looks Promising In 2023: Spectrum Report
- Ecommerce. Telecom, BFSI, Manufacturing, and Retail are some of the sectors to conduct maximum hiring
- Tier 1 cities like Bengaluru, Chennai, Mumbai, Hyderabad, NCR, and tier 2 cities like Pune, Jaipur, and Bhubaneshwar will increase their hiring intent
- Bengaluru shall lead in terms of job creation throughout 2023
- This year, blue-collar jobs will rise by 30%, while white-collar can expect stagnancy
The Indian recruitment industry is poised to garner positive outcomes with some key developments this year, as per a report by Spectrum Talent Management, a one-stop solution for global and local human talent management. The report reveals a series of exciting hiring insights in the recruitment sector. It states that the hiring momentum in Quarter 4 will remain stable and almost similar to the previous quarter, with a mere 5% variance.
The latest hiring trends indicate maximum recruitment in sectors like Telecom, BFSI, Manufacturing, and Retail. Among these sectors, Telecom is new to increase its hiring spree besides other industries. Spectrum Talent Management has found out that the industry will see blue-collar jobs pick up by 30% while the white-collar sector shall decline or remain stagnant. Besides, the report unveils that there are big things ahead for Artificial Intelligence (AI), Machine Learning (ML), Blockchain, and Cybersecurity in the upcoming financial year.
Sharing his views on the latest hiring trends, Sidharth Agarwal, Director of Spectrum Talent Management, said, “Our recent research findings indicate a watchful approach in quarter 4 with the outcome deciding the fate of the coming FY. The developments in the global market will be a key factor in deciding the eventual fate. The slowdown from the western countries is yet to impact the Indian market, although it has already affected a few prominent domains, which would play a wait-and-watch game throughout Q4. Still, we remain optimistic that the hiring intent will not change much from what prevailed in Q3. There’s a silver lining for the Indian recruitment sector with positive outcomes and key developments starting in the April-May-June quarter.”
The report released by Spectrum Talent Management also states that work-from-home hiring would expectedly surge in the recruitment industry amid the new COVID-19 scare. The highest recruitment will be from Bangalore, Chennai, Mumbai, Hyderabad, NCR, Pune, Jaipur, and Bhubaneswar). But Bengaluru shall witness the topmost hiring spree in 2023, and the average percentage of hiring intent of the top three would be from Tier 1 cities at above 90%.