Hiring momentum continues to remain on track in Feb

By: |
March 9, 2021 2:50 AM

According to Xpheno, a Bengaluru-based specialist staffing firm, the count of active jobs, refreshed and accepting applicants in February 2021 marginally shrunk by 2% to reach 2,60,000, as against 2,65,000 in January 2021. The increase in business activity is showing up in positive job numbers.

Also, with large enterprises encouraging and preparing for vaccination programmes, the next phase of enterprise-level unlocking has begun.Also, with large enterprises encouraging and preparing for vaccination programmes, the next phase of enterprise-level unlocking has begun.

The hiring momentum seems to be back as the active job counts in February retained the same level as of January. The marginal 2% drop in count on a month-on-month basis can be attributed to the short month in consideration, HR consultants said.

According to Xpheno, a Bengaluru-based specialist staffing firm, the count of active jobs, refreshed and accepting applicants in February 2021 marginally shrunk by 2% to reach 2,60,000, as against 2,65,000 in January 2021. The increase in business activity is showing up in positive job numbers.

Kamal Karanth, co-founder, Xpheno observed that with further unlocking and removal of operating restrictions in airlines, hospitality and entertainment industries, the closing numbers for March 2021 are expected to be healthy. “An increase in business activity from these sectors will have an impact on other associated industries servicing them,” he said.

Also, with large enterprises encouraging and preparing for vaccination programmes, the next phase of enterprise-level unlocking has begun. “The quarter ahead could see more employees returning to work from the office, bringing back a bigger buzz in operations and overall business activity,” Karanth added.

In line with the overall trend of active job counts, full-time opportunities were 2% lower than the January 2021 count. The good news, however, is that the size of the full-time openings recorded since November 2020 is in the sustainable range of nearly 90%.

At the same time, after seeing an uptrend in the last few months, the part-time and contract openings shrunk in February by 22% and 25% respectively. In January, active contract openings grew by 67%, and although on a small base, the part-time openings in January 2021 were the highest for the financial year. Karanth explained that when full-time hirings are in full swing, it’s a natural impact on contract hirings. “As companies see more visibility and are sure about the demand they tend to hire more on a full time,” he said.

However, with more enterprises expected to continue their work-from-home (WFH) and remote working models, the growth in full-time remote job opportunities should be expected. Full-time remote job openings continued their growth curve, moving up to 8,000 in February, as against 7,000 in January and 5,000 in December 2020.

Internship opportunities also witnessed sharp movement compared to January and increased 60% on an m-o-m basis. The internship openings stood at nearly 9,000 as against 5,000 in January. Internship openings are expected to rise even further in the coming months as it is seasonal, and linked to academic sessions.

With the rise in adoption of digital means and automation, hiring in the IT-software/software services industry registered a sharp growth of 33% in February compared to January, according to the findings from Naukri.com.
Pawan Goyal, chief business officer, Naukri.com said, “Around 88% of IT recruiters have confirmed that new jobs will be created in the coming few months as per the latest Naukri Hiring Outlook survey, further confirming that the wave of digitisation will spread rapidly.”

According to the jobs portal, the majority of the industries saw a positive sequential uptick in recruitment activities for the first time after the COVID-19 outbreak. The telecom sector, for instance, has registered an m-o-m jump of 24% in February. Other key sectors such as medical/healthcare have seen a growth of 28%, education/teaching has surged by 25%, FMCG by 20%, and BFSI by 17%. However, the insurance sector saw a flat hiring trend in February.
After seeing sharp dips in hiring over the last few months, jobs are back in the metropolitan cities of India. Hiring in metros showed double-digit growth led by Bangalore at 31%, Hyderabad at 28% and Pune at 24%.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, 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.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1World Heritage Day: Turn your love for history and artifacts into an exciting career
2UPSC NDA 2021 Exam tomorrow; #NDApostpone trends on Twitter as Covid safety outcry grows
3Covid-19: CICSE says reviewing situation, will soon decide on conducting class 10,12 board exams