Hiring and the intent to increase employment opportunities is likely to rise by 7%, compared to the previous quarter. If further lockdowns and covid restrictions are not enforced further, hiring will jump by up to 9% as revealed by recent research from TeamLease.
Research of Teamlease on hiring intent
The TeamLease report is based on a survey from 712 small, medium and large companies across 21 sectors all over India from January to June. It states new hiring activity is likely to come from healthcare, pharmaceutical, educational services, e-commerce, and information technology, and tech startups. More specifically, eight out of 21 sectors reviewed by human resource management firm TeamLease are likely to see a 9-11% rise in hiring activity in the April-June quarter.
Regaining the lost ground
Despite skyrocketing Covid-19 cases, hiring activity is likely to increase by 7% in the April-June quarter in comparison to the previous quarter, if there are no further covid measures and regulations.
“Indian economy has been regaining the lost ground and the same was reflecting in hiring as well. Be it the IMF, OECD, or Fitch all have been positive, and this was bolstering the business sentiment and the intent to hire,” said, Ms. Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services
Chakraborty also highlighted that imposing lockdowns will derail the economy and delay the recovery.
Employment opportunities and hiring growth by sectors
Almost 60% of the corporates in the healthcare and pharmaceutical sectors are keen on hiring talent, which is over 10% higher than the January-March period. Educational services, eCommerce, and technology start-ups, as well as IT, have indicated similar enthusiasm with 55%, 51%, and 50% of the companies, respectively, expressing intent to hire.
Despite the presence of an overall positivity, power, and energy, BPO/ITeS, media, and entertainment, consulting, marketing and advertising as well as travel and hospitality may take more time to reach that stage of readiness than the other sectors are expressing.
Meanwhile, with regard to functional areas similar to the previous quarter, sales and marketing continue to be the most sought after roles, with 41% and 34%, respectively.
Major cities to jump on this growth
Major cities in India are ready to jump on this forecasted growth, kick-starting their recruitment processes once again. From a geography perspective, while metro and tier I cities take the lead in terms of overall intent to hire, tier-III cities are not far behind.
Delving deep into cities barring for Kochi, Coimbatore, Nagpur, and Kolkata, most of the towns have expressed a positive increase in keenness to hire.
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