The near 10 percentgrowth in GDP in the current fiscal coupled with fewer supply disruptions, opening up of the pent-up demand both in the traditional and contact-intensive services as well as the buoyancy in the global economy are having a positive impact on hiring.
According to TeamLease Employment Outlook Report (Oct- Dec’21), there is a 3 percent point growth in the overall intent-to-hire in the current quarter.
The biggest gainer of this positive sentiment is the sales function. More than 58 percent of employers from across sector are keen to hire talent for sales roles. In fact, out of the 21 sectors reviewed sales is the most sought after roles in 4 sectors (more than any other role) for the period October- December, 2021.
The other sought after functions are Information Technology (43 percent of the employers) Marketing (40 percent of the employers) and Engineering (37 percent of the employers).
A comprehensive research covering hiring, job growth, job creation, salaries and their drivers, as per the report out of the 21 sectors reviewed around 15 have indicated positive hiring sentiment. The leading sectors are Information Technology (69 percent), Educational Services (64 percent), and Healthcare and Pharmaceuticals (51 percent).
Another highlight is the recovery in Telecommunication and Construction and Real-Estate. From being laggards with just 3 percent point and 1 percent point growth in the previous quarter both telecommunication and construction and real-estate are exhibiting 5 percent point growth in this expected indicating a revival of hiring by the sectors.
With a drop in hiring sentiment ranging from 4 percent -2 percent point Marketing & Advertising, BPO / ITeS, Retail [Non-Essential] and Consulting are the only laggards.
With a hiring intent as high as 56 percent point and a 7 percent point growth metros and tier 1 seems to be dominating the hiring intent from a geography perspective. Though not as high as metros & tier 1, even tier 2, tier 3 and rural areas are also on the positive trajectory.
Diving deep into cities and their hiring sentiments, Bengaluru is leading as more than 67 percentof the employers have expressed intent to ramp up their talent pool. In fact, it is not just this quarter, Bengaluru has led in term of hiring sentiments for four straight quarters. However, in terms of growth it is Delhi that is topping the chart this quarter. Delhi is indicating an 8 percent point growth over July-September 2021.
Commenting on the findings, Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services, said, “Robust GST an e-way bill generation, recovery of the manufacturing PMI, increasing in business activities, improvement in the industrial and service sector activity, rise in demand across sectors and the ramping up inoculation are not only positively impacting the economy but also the job scenario. Though this quarter may have seen a 3 percentage point, the larger picture is that there is a 5 percent quarter-on-quarter growth in the hiring sentiment since January, 2021, indicating that the recovery is on the right track and we would need is only fast tracking to offset the impact of the pandemic.”
