Strong recovery in Indian job market with a year-on-year growth of 60%
The number of open job positions accepting applications for white-collar professionals rose to nearly 285,000 in September, as companies in sectors such as IT/IT, BFSI, edtech, ecommerce, fintech and consulting boosted their recruitment plans, according to experts. Shown the data put together by. Shared exclusively with staffing firms Xpheno and ET. Overall, hiring in the first nine months of 2021 was up about 40% compared to the same period last year, despite a temporary pause during the second wave of the pandemic, leading to a continued increase in hiring activity By pointing.
Job market experts and top company executives attributed the revival to a combination of factors, including positive economic growth indicators, the government’s efforts to resume business activity, further easing of restrictions and increased consumption.
“The hiring boom is driven by a slowdown in demand last year and with enterprises preparing for an optimistic return to normalcy,” said Kamal Karanth, co-founder, Xpheno. “Companies in key sectors are seen reinvesting in building capacity to handle the projected growth in demand,” he said.
Top executives said companies are also better prepared to deal with the pandemic than they were a year ago and increasing coverage of vaccinations is boosting market confidence.
SV Nathan, Partner and Chief Talent Officer, Deloitte India, said, “The job market is recovering rapidly. “There are a whole host of positive indicators that are driving an increase in hiring activity, including the opening up of US markets, leading to a massive increase in outsourcing jobs, increased government infrastructure spending, in sectors such as healthcare and pharma. Involves continuous hiring. Which got a shot in the hand from Covid, eventually further easing restrictions in various services businesses and gradually allaying fears about the pandemic,” he said.
The technology sector remained high on action as technology spending resumed across industries in both domestic and global markets. The boom in investment deals in the tech startup space is also creating thousands of jobs.
“The job market in the IT/ITES sector is in a state of frenzy,” said Nitin Bhatt, Technology Sector Leader, EY India. “Order books are at record highs across almost all companies and the hottest, in-demand job profiles belong to Java full stack developers, cloud architects for Azure and AWS, data analytics experts with knowledge of Data Lake services, and cybersecurity professionals. ” she added.
Major employers with active openings for the month were Oracle, IBM, Accenture, Genpact, Bajaj Finserv, Wipro, Marriott Hotels, JPMorgan Chase, EY, Cargill, Dell Technologies, Cisco, Google, SAP, Shell, Amazon and Microsoft, among others. data shown.
The total active job count was 113,000 from the top five metros – Delhi, Bengaluru, Chennai, Mumbai and Hyderabad. Active job openings in Tier-2 locations continued to rise, with a 10% increase over the past three months and an increase of over 21% since January.
Experts remain optimistic about the future of the white-collar market and believe that recruitment will continue on a growth path as companies chart the roadmap for the future, while they are aware of the potential for further waves.
Ruzbeh Irani, president of Group Human Resources at automaker Mahindra & Mahindra, said, “I am seeing an improvement in economic activity from here, which will lead to job creation. However, he added that the kind of jobs that will be created will be different. “Low-end, repetitive jobs will require fewer people, but there will be some sectors – mostly in technology and digital – where demand will exceed supply and people will outgrow the need,” he said. The key areas of hiring for the company are currently Digital, Data, Design and Technology.
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