Mumbai: With the government’s focus on providing affordable housing to India’s 1.3 billion citizens, the construction and real estate sector is gearing up for massive growth. This was evident with the Construction & Real Estate Industries posting the highest growth in demand for skilled professionals, as reported by the latest RecruiteX, the recruitment index by TimesJobs.
While overall talent demand was up by 3% during April 2017, real estate posted a 7% rise in talent demand and the construction sector saw a 6% rise in demand. While construction and real estate were the top hiring sectors during April 2017. Logistics, petrochemicals, IT, Telecom and BFSI also hired significantly during the month. Business managers, consultants, hospitality, logistics and BFSI professionals reported significant rise in demand. IT, Telecom and engineering profiles, too witnessed rise in demand.
“Our RecruiteX report reflects the growth of the Indian middle class and their rising purchasing power, which has converted the dream of owning a home into tangible demand for affordable housing. When coupled with Prime Minister Modi’s drive to create a business-friendly environment, drive real estate growth, and create jobs, the sector is on a hiring spree to take advantage of the next growth wave.” explains Ramathreya Krishnamurthi, Business Head, TimesJobs.
Among key locations, Bengaluru and Pune posted the maximum rise in demand. Ahmedabad and Indore were the top hiring among the non-metros. Among states, Maharashtra (excluding Mumbai and Pune) posted a 5% rise in demand. Hiring gained momentum for experienced professionals while it dropped for freshers. Candidates having over 20 years of experience posted highest rise in talent demand in April 2017.
Real estate posted a 7% rise in talent demand. Construction sector saw a 6% rise in demand. Business management/consultants reported a 21% rise in demand. Among top hiring locations, Bengaluru and Pune witnessed a 14% rise in demand. Candidates across all experience categories saw an active rise in demand, especially candidates with over 20 years of experience, who saw a 10% rise in demand.
During April 2017, demand grew across key functional areas. Business management and consultants were the most in-demand profiles during the month. Business management/consultants reported a 21% rise in demand. Hospitality professionals witnessed a 12% rise in demand. Logistics and BFSI professionals saw an 11% rise in demand and IT/telecom witnessed a 10% rise.
Talent demand was upbeat across all professionals with experience, except freshers and those with less than 2 years of experience. Candidates with over 20 years of experience reported highest rise (10%) in demand during April 2017. Candidates with 5-10 years of experience posted an 8% rise in talent demand, followed by candidates with 10-20 years of experience with a 6% rise. Candidates with 2-5 years of experience witnessed a 5% rise, while freshers and candidates with less than 2 years of experience reported a 4% drop.