Employment demand sees double digit growth in November

By: |
Published: December 22, 2017 8:24:45 PM

Employment demand for November increased by 13 per cent with banking, financial services and insurance (BFSI) witnessing the highest growth among all sectors, according to a report.

Employment, Financial services and insurance, sectors, BFSIEmployment demand for November increased by 13 per cent with banking, financial services and insurance (BFSI) witnessing the highest growth among all sectors, according to a report.(Image: Reuters)

Employment demand for November increased by 13 per cent with banking, financial services and insurance (BFSI) witnessing the highest growth among all sectors, according to a report. “Talent demand has increased by 13 per cent in November 2017. This is the first time this year that the recruitment indices have registered a double-digit rise in demand in a single month,” revealed the latest RecruiteX report by TimesJobs. Demand grew most in the BFSI sector, which saw a nearly 24 per cent rise in talent demand in November. Within the BFSI sector, demand for profiles like sales, business development, banking, insurance, financial services and IT was more in demand during the month, it added.

This was followed by retail and BPO or ITeS sectors, which posted 22 per cent and 17 per cent rise in talent demand, respectively, it said. “After remaining largely flat during the year, posting an average drop of 1 per cent in the overall talent demand, November emerged as the best hiring month during this year. This is a revelation of sorts, since November, basis our previous data trends, is generally slow on hiring,” TimesJobs business head Ramathreya Krishnamurthi said. However, he said, in 2016 too November saw a double-digit rise in talent demand. “We can attribute it to the changing workplace dynamics – where technology and innovations is keeping up the demand for niche talent,” he said.

The demand for talent is high across all key locations and functions, he added. “We can expect a slower December, as hiring managers will get new budgets in the new year and would also like to wait for the holiday season to get over,” he added. Among key locations, Ahmedabad posted the highest rise of over 30 per cent in talent demand, according to the report. Within top metros, Delhi-NCR witnessed a rise of 17 per cent in hiring activity in November 2017. Among states, 24 per cent growth was recorded in Chhattisgarh.

Besides, the report also revealed that hiring for freshers grew significantly in November 2017. Candidates with less than 2 years of experience saw a 20 per cent rise in demand. Professionals with over 20 years of experience witnessed a rise of 12 per cent, during the month, followed by professionals with 2-5 years of experience (10 per cent rise in demand).

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

FinancialExpress_1x1_Imp_Desktop