Thank these sectors for the biggest rise in formal jobs this year so far
- A positive outlook in the hiring trend was seen only after April when India was struggling with the fatal second wave of virus infections.
- Most of the sectors in India, which were badly affected by the COVID-19 pandemic, also showed a strong positive recovery post the pandemic phase.
- Production/Manufacturing and Banking, Financial Services and Insurance (BFSI) emerged as the most actively hiring sectors in 2021, registering a 31% increase in e-recruitment activity.
AdvertisementThe year 2021 can be marked as the phase of improvement and recovery after the setback of the COVID-19 pandemic. The impact spanned across industries and markets, also weakening the online job demand. A positive outlook in the hiring trend was seen only after April when India was struggling with the fatal second wave of virus infections.
However, as per Pawan Goyal, the chief business officer of the employment website Naukri.com, hiring between January and November 2021 saw year-over-year growth of 60% in India.
Most of the sectors in India, which were badly affected by the COVID-19 pandemic, also showed a strong positive recovery post the pandemic phase. A positive growth trend has been observed on a national level since May 2021.
IT, manufacturing, BFSI sectors saw the maximum growth in terms of workforce expansion
“Production/Manufacturing and Banking, Financial Services and Insurance (BFSI) emerged as the most actively hiring sectors in 2021, registering a 31% increase in e-recruitment activity.
|IT - Hardware, Software||23%|
Telecom/ISP sector followed closely charting 27% growth, while Automotive/Ancillaries/Tyres industry, IT - Hardware, Software and BPO/ITES industry recorded 25%, 23% and 18% growth respectively”, said Sekhar Garisa, chief executive officer (CEO) of Monster.com, another job and employment platform.
The automotive sector saw a rise in job postings even when the sector was in slowdown.“ Vehicle launches in hybrid, EV and SUV segments are all gaining traction thereby increasing customer interest and demand. Companies are sitting on advance orders running anywhere from a 2-9 month waiting period for some models, some of which are also accentuated by the global chip crisis. Hence, organisations are hiring due to this enhanced demand, which once the chip crisis is behind us, will show up in automobile sales numbers. ” said Lohit Bhatia, president - workforce management at Quess Corp.
Other than IT, manufacturing and BFSI sectors, e-commerce, retail also picked up pace in hiring this year, as there was a rapid improvement in consumer sentiment.
Hospitality, Travel and Tourism remained as one of the least growing sectors
The imposition of lockdown during the second wave led to a halt in outings, tours, vacations and all types of travel in general. “Hospitality sector, travel and tourism and aviation sector remained one of the most severely affected sectors,” Ajay Thomas, business head at TeamLease Services, told Business Insider.
He said, “The travel and tourism sector that employs millions of Indians started bouncing back after the first wave, but little did they know that COVID-19 would be back for the second round of devastation. Aviation and other travel sector establishments faced a massive struggle during the pandemic.”
Overall annual growth of the medical/healthcare sector was also slow as compared to other sectors. “ Annual growth was comparatively slower for sectors like Medical/Healthcare and Pharma/Biotech. These two sectors were at the forefront during the pandemic, and demand was not as impacted in 2020 when compared to other industries, thus their growth trajectory, while positive, was not as steep,” said Goyal of Naukri.com.
Hiring of freshers
The year 2021 saw opening the door of opportunities for recent graduates or freshers once again. Overall there was a growth of 12% in freshers hiring this year as compared to the last year, according to Garisa of Monster.com.
Sectors like IT, software-hardware hired the maximum number of freshers this year, while, BPO, call centre, customer service demonstrated subdued demand for freshers.
Overall hiring trend for experienced professionals
According to Goyal, hiring for senior professionals with 8-12 years experience saw the highest uptick across all levels followed by mid-management professionals with 4-7 years experience.
Bangalore saw the maximum growth and Delhi saw the least among metro cities
According to Monster.com, all the metros except Kolkata charted double-digit growth.
Bangalore led with a 42% point rise, tailed by Chennai (30%), Pune (29%), Hyderabad (24%), Mumbai (20%) and Delhi-NCR (18%) this year as compared to last year.
Ahmedabad saw the maximum growth among non-metros
Ahmedabad recovered the fastest among Tier 2 cities, growing by 90% annually, followed by Chandigarh (40%), Kochi (39%).
AdvertisementWhile Jaipur saw the least growth with 29% followed by Coimbatore (35%) and Vadodara (37%).
Attrition rate among different sectors
Various studies show that the attrition rate in India rose from 10% in 2020 to 20% in 2021. Attrition rate means the number of employees leaving the organisation or company.
The IT sector in India witnessed the highest attrition rate in the year 2021 as compared to other sectors. Whereas, the media and entertainment industry enjoyed the least attrition rate this year, according to Monster.com.
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