Mumbai: Overall talent demand rose by 4% in May 2017 with BPO/ITeS and BFSI sectors posting a rise of 24% and 14% in talent demand, respectively. Automobiles and consulting services sectors also posted considerable rise in talent demand during the month. Senior professionals also posted a 5% rise in demand, reports the latest RecruiteX, the recruitment index by TimesJobs.
“While there is no doubt that automation has led to job cuts in certain areas of the IT/ITeS sectors, we must not lose sight of the fact that new jobs are also being created by the economic growth that is fueled by this technology revolution. Nasscom has confirmed that there was a net creation of 1,70,000 jobs in the IT sector in FY 2017. In addition, Fintech is transforming the BFSI sector leading to its rapid development and growth. Further, the Ministry of Electronics & IT has launched the India BPO promotion scheme to provide 1,45,000 jobs in the BPO/ITeS sector as well,” said Ramathreya Krishnamurthi, Business Head, TimesJobs.
Overall, hiring was quick paced during May 2017. Key employment sectors and functional areas contributed to the rise in recruitment activities. BPO/ITeS sector posted a 24% rise in talent demand while Customer service and tele-calling professionals also reported over 20% rise in demand. Tier II locations witnessed the maximum hiring; Jaipur saw the most growth, with over 20% rise in demand.
Senior professionals posted a 5% rise in demand, while freshers and professionals with less than 2 years of experience saw a 4% rise in demand.
TimesJobs RecruiteX reports a rise across most key industry segments. BPO/ITeS and BFSI were the best performing sectors during May 2017. BFSI sector posted a 14% rise in demand. Consulting services sector reported a rise of 13% in talent demand.
Talent demand grew significantly in tier II locations and there was positive hiring momentum in most major locations during May 2017. Jaipur was the best performing location during the month as Jaipur posting over 20% rise in talent demand in May 2017. Among Metros, Delhi NCR reported a 10% rise in hiring activity, followed by Bengaluru with a 7% rise, during the month. Rajasthan (except Jaipur) was the best performing state and reported over 20% rise in demand during May 2017.
Gujarat (except Ahmedabad and Vadodara) saw a 14% rise while West Bengal also saw a 7% rise in demand. Talent demand was upbeat across all experience categories, with candidates having 10-20 years of experience posting the maximum rise in demand of 5% in May 2017. The category has reported an average 8% rise in demand since March 2017.