Hiring intent at 41% in Q3, most new recruits in sales

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October 08, 2021 4:00 AM

Higher economic growth, 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 would have a positive impact on hiring sentiments, she said.

The TeamLease report provides an overview of the mechanics of hiring, job growth, job creation, salaries and their drivers, trends and forecasts across 14 cities. The survey was conducted in July-August of the current year.The TeamLease report provides an overview of the mechanics of hiring, job growth, job creation, salaries and their drivers, trends and forecasts across 14 cities. The survey was conducted in July-August of the current year.

Hiring has been increasing at steady pace across firms, industries and business centres since the pandemic’s first wave stifled the economy early last year, but the quality of jobs being created remains a cause for concern, according to the findings of regular surveys conducted by an observer of the jobs scenario in the country.

An average of 41% employers are willing to hire in October-December 2021, compared with 38% in the previous quarter, and the sectors that will likely lead the pack are information technology, educational services, healthcare and pharmaceuticals, according to TeamLease Employment Outlook Report. Only 21% of the enterprises showed interest to hire in the October-December period last year.

As per the survey, which covered 650 small, medium and large companies, brighter hiring sentiment is almost all-pervasive with 15 out of 21 sectors expressing their willingness to hire. Also, the trend is visible across the country, though in different degrees– metros and Tier-I cities are at the forefront. Half of the establishments which have shown interest to hire are large.

The TeamLease report provides an overview of the mechanics of hiring, job growth, job creation, salaries and their drivers, trends and forecasts across 14 cities. The survey was conducted in July-August of the current year.

However, the quality of the job still remains an issue; more than 58% of the employers from across sector are keen to hire talent for sales roles, a relatively soft skill area. In fact, out of the 21 sectors reviewed sales is the most sought-after roles in four sectors for the October-December 2021 period. The other sought-after functions are IT, marketing and engineering.

Rituparna Chakraborty, co-founder & executive vice president, TeamLease Services, said, “The current quarter may be seeing a three-percentage point growth in hiring over the last one But the larger picture is that there is an average quarter-on-quarter growth of about 5% in the hiring sentiment since January 2021, indicating that the recovery is on the right track and what we would need is only a quickening of the trend to offset the impact of the pandemic.”

Higher economic growth, 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 would have a positive impact on hiring sentiments, she said.

According to the consumer pyramids household survey data of the Centre for Monitoring Indian Economy (CMIE), employment in September 2021 was estimated to be at 406.2 million, the highest in 20 months.

Giving a longer term picture of the hiring scenario, CARE Ratings has recently said that Corporate India’s headcount fell in FY21 by about 0.7% to 6.16 million after growing by 3.4% in FY20. Nearly 60% of the companies in its sample of 969 firms saw a drop in their workforce in FY21. According to CARE ratings, in the current fiscal too, salary hikes could be muted except for certain functions relating to technology.

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