New Delhi: India’s overall hiring intent for this year’s July-December period will be 61 per cent, 31 percentage points higher than the same period last year, according to a report released Tuesday by learning solutions firm TeamLease EdTech.
According to TeamLease EdTech, ‘hiring intent’ of employers is a measure that “represents the percentage of employers likely to hire during the six-month period that is in consideration”.
The report highlighted how employers seem to be keen on hiring freshers, especially in the information technology (IT) sector. For this report, TeamLease EdTech sampled 389 small (up to 249 employees), 295 medium (250-999 employees) and 181 large (over 1,000 employees) Indian businesses in the manufacturing, services and technology sectors.
Job aspirants with 0-1 year of experience have become market favourites (59 per cent hiring intent) as opposed to aspirants with 1-5 years of experience (58 per cent) — the latter had a better run till June 2022. Similarly, ‘intent to hire’ was 52 per cent for those with 6-10 years of experience, 4 per cent for those with 11-15 years and 2 per cent for those with over 15 years of experience between July and December 2022.
In 2021, the ‘hiring intent’ for freshers with an experience of 0-1 year was 17 per cent, for those with 1-5 years of experience, it was 39 per cent and 27 per cent for those with 6-10 years of experience.
Globally, too, there has been an uptick in the ‘intent to hire’ freshers. However, the report underlined that India outperformed on this metric by a “large margin”.
TeamLease EdTech is part of TeamLease Services Ltd. which provides research on HR practices and hiring trends in India and abroad.
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‘IT sector driving growth’
The report stated that spending within the Indian IT sector has increased by over 24 per cent year-on-year in 2022 despite taking a hit owing to fears of a recession in Europe and the US, and volatile geopolitical developments including the Russian invasion of Ukraine.
“Indian software product industry is expected to reach USD 100 billion in the coming years. IT sector will hire nearly 100,000 freshers this year to meet rising demand arising out of robust deal pipelines,” the report said.
In addition, the Indian power and energy sector is also witnessing an upward trajectory when it comes to hiring possibilities.
“The Government has allocated Rs 19,500 crore (USD 2.57 billion) for a Production Linked Incentive scheme to boost the manufacturing of high-efficiency solar modules,” the report said. It also pointed out that “Indian renewable energy space investments are likely to cross USD 15 billion in 2022” and that these investments “would create huge job opportunities for freshers”.
In the backdrop of the launch of 5G in India, the report pointed out that there will be a “huge demand for job roles across 5G-centric technologies such as Internet of Things (IoT), Artificial Intelligence (AI), Robotics and Cloud Computing in the Telecom sector”.
A research survey conducted during April and May 2022 by TeamLease found that the most “in-demand” job roles in the Indian market comprise “Affiliate Marketing Specialist, Site Reliability Engineer, Molecular Biologist, Wellness Specialist and User Experience Researcher”.
Among the top, “in-demand” skills for freshers mentioned in the report were “Cyber Security & Ethical Hacking, Blockchain, Product Management, Machine Learning, Robotics and Cloud Computing”.
(Edited by Amrtansh Arora)
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