New Delhi : India Inc. noted an improved hiring sentiment in Dec 20, as the high volume sectors – BFSI, IT/Telecom and Retail – posted maximum growth in talent demand in the said period. This M-o-M growth in talent demand hinted that the corporates are vying for an economic revival; and was probably the best way to end 2020 – a year known for muted talent demand and job insecurity. The BFSI sector posted the highest growth of 5% in talent demand in Dec 20, followed by IT/Telecom, noted TimesJobs RecruiteX Dec 20 edition.
TimesJobs RecruiteX is a monthly recruitment index that records the demand and supply of talent at India Inc.
Elaborating on the findings of the RecruiteX Dec 2020 edition, Sanjay Goyal, Business Head, TimesJobs and TechGig said, “The talent demand report card for Dec 2 0 was full of surprises. Both – the BFSI sector, and the Banks/Insurance job profile – saw an impressive growth; leaping from negative talent demand in Nov 20 to 5% and 9% M-o-M growth in Dec 20, respectively. The IT sector recorded 4% growth in Dec 20, akin to its Nov 20 growth trend. The high volume sectors resumed talent intake, improving the overall hiring sentiment at India Inc.”
Key findings from the RecruiteX Dec 20 edition are –
Industrial sector-wise top gainers in talent demand:
The BFSI sector recorded the highest growth of 5% in talent demand in Dec 20. It recovered from (-5%) in Nov 20 to 5% growth in M-o-M comparison. The IT/Telecom sector posted 4% growth in Dec 20, exactly similar to its Nov 20 performance and grabbed the second spot. Industry-wise top M-o-M gainers in Dec 20 were:
- BFSI: 5%
- IT/Telecom: 4%
- Retail: 3%
Functional area-wise top gainers in talent demand:
The Banks/Insurance profile recovered from (-2%) talent demand in Nov 20 to gain 9% in Dec 20. It was the topmost profile sought by the recruiters in the review month. The Doctors/Nurses profile had seen a setback in talent demand in Nov 20, grew to 3% in Dec 20 and became the second most preferred work profile. The IT/Telecom profile – which was the top talent demand gainer in Nov 20 – saw 2% growth in Dec 20 but could not make it to the top three positions. Functional area-wise top M-o-M gainers in Dec 20 were:
- Banks/Insurance/Financial Services: 9%
- Doctors/Nurses/Medical Professional: 3%
- Accounting & Finance:3%
City-wise analysis:
Ahmedabad’s talent demand saw a huge improvement, jumping from (-15%) in Nov 20 to 15% in Dec 20, and became the top city for talent demand. Jaipur followed a similar trend, recording a jump from (-13%) in Nov 20 to 14% in Dec 20. The pink city grabbed the second spot in the city-wise talent demand list. Among the metro cities, Delhi-NCR witnessed de-growth of (-3%) in talent demand while Chennai, Mumbai and Pune saw a single-digit growth in the review month. City-wise top M-o-M gainers in Dec 20 were:
- Ahmedabad: 15%
- Jaipur: 14%
- Mumbai: 9%
Work experience-wise analysis:
Talent demand for people with 10-20 years of work experience gained most M-o-M growth of 4% in the review month. Senior professionals with over 20 years of work experience – which were the most sought work experience range in Nov 20 – saw no momentum in Dec 20. Work experience-wise top M-o-M gainers in Dec 20 were:
- 10-20 years of work experience: 4%
- Freshers and people with less than 2 years of work experience: 3%
