Hiring activity reached a two-year high in September 2024, with a 27% increase in fresh hiring across white-collar jobs, according to the latest Foundit Insights Tracker. The tracker reported that hiring has picked up across all sectors. “This marks a significant milestone as the index returns to pre-pandemic levels. Notably, the tracker has observed consistent growth across almost all sectors, both annually and month-over-month,” it stated.
As per the tracker, the IT sector has shown promising signs of revival, thereby boosting job creation and reinforcing its role as an economic backbone. In another positive development, the banking, financial services, and insurance (BFSI) sector also witnessed a surge in online hiring demand which was driven by favourable investment conditions, digital expansion, and growing formal savings.
The manufacturing sector witnessed a significant hiring growth (48% year-on-year growth) too driven by rising demand from industries like electronics, chemicals, automobiles, FMCG, and textiles. “Advances in automation and technologies such as 3D printing, artificial intelligence (AI), and robotics are key factors driving this demand,” the tracker pointed out.
In terms of roles, hospitality saw a remarkable 35% annual increase in demand because the companies are increasingly focusing on personalised and technology-enhanced experiences. In addition, professionals in finance and accounts experienced double-digit growth both annually and in the past month. “Hospitality professionals saw the highest demand among job roles with notable growth also seen in senior management (15% month-on-month growth), IT (6%), finance (16%), sales (7%), and customer service (10%) roles over the past month,” the tracker noted.
As per the tracker, the job seekers’ interest in work-from-home (WFH) has been steadily declining which indicates a possible shift back to more structured work environments or a growing preference for hybrid models as the ideal middle ground.
“The availability of hybrid roles remained stable from September 2023 to September 2024, reflecting a consistent employer preference for flexibility. However, job seeker interest in both hybrid and WFH roles dropped by 10% annually. While hybrid work remains the preferred choice for remote setups, the decline in interest suggests an overall shift towards in-office settings,” the tracker said.
Meanwhile, major cities like Chennai, Hyderabad and Ahmedabad experienced double-digit hiring growth in September with strong hiring momentum extending to key tier-II cities as well. Among all cities, Coimbatore led the way with 55% year-on-year hiring growth last month.