Two software majors Infosys and TCS recruited almost 190,000 freshers together in FY22, and both have given a robust hiring guidance for this fiscal, indicating that IT sector will continue to be a top recruiter this financial year as well.
However, it's not just the IT, a bunch of other sectors - from telecom to ecommerce, education, engineering, retail and logistics - are opening up and looking to hire more talent this year.
Data collected from staffing firms and job boards, showed that things are looking positive across most of the sectors, after a prolonged lull due the pandemic and ensuing economic sluggishness.
Also Read: TCS, Infosys hired record 1.85 lakh freshers last financial year as attrition spiked
Vidya Sagar Gannamani, chairman and managing director of staffing firm Adecco India said while IT and IT enabled sectors will keep doing well, segments including consumer goods and parts of manufacturing are showing a strong hiring trend and it will continue to expand. Besides, pharma and health is expanding and adding jobs, Gannamani said.
The employment trend is witnessing an upward trajectory. India Inc's hiring intent has increased from 27% in Q4 FY20 to 54% in the April-June (current) quarter, according data analysis by staffing and human resource firm Teamlease Services.
"The hiring intent sees an appreciable increase for the forthcoming quarter on the back of income growth projections and superior export performance over the coming fiscal,” it added.
Job boards like monster.com and Naukri.com too have shown a positive trend across sectors too. While Naukri argues that the returning of normalcy by companies is fuelling a strong hiring sentiment. The banking, financial and insurance sector has come out the covid-19 phase and the trend is going to pick up, according to job platform monster. An analysis by monster says the BFSI industry in India has witnessed flourishing annual growth at 27%, at least till end of February, for which the latest data is available.
“White collar job environment looks to be in a sweet spot this year. The post pandemic economic recovery, and pent up demand is driving this,” said Ankit Agarwala, managing director (India) of Page Group that owns recruitment and executive search firm Michael Page.
But everything is not out of the woods yet. Recruiters believe that segments like consulting, advertising, non-essential retail (like luxury goods, home furnishing and travel accessories) and parts of the hospitality sector will take few more months to come out of the shadow.
Domain specific growth:
There is a considerable higher intent to hire people in sales roles in the current quarter of Fy23. Teamlease data shows that while the hiring intent among India Inc was 71% in the quarter ended March 31, it has gone upto 82% for the April-June quarter for roles in sales domain,, which is considered a growth driver across sectors.
Similarly, the IT sector hiring intent has jumped to 75 percent in June quarter against 61 percent in the Jan-March quarter. There are similar positive hiring intent stories in engineering and marketing roles too, as per Teamlease analysis. It said IT and telecom sectors are going to hire a sizable number of people in sales and tech roles and engineers are going to be in good demand too. In telecom and allied space, there exists a good hiring intent for blue collar workers too.
With digital transformation shaping the future of work, the demand for tech-enabled skills is witnessing a consistent uptick, according to Naukri.com. The job platform believes top functional areas in which active hiring is expected in the coming months are IT, business development (43%), and marketing among others.
Sectoral outlook:
Teamlease analysis shows that sectors like IT, education, internet based retail, startups and pharma are the key sectors where the hiring intention is strong at least for the next one quarter. Similarly, FMCG, telecom, conventional essential retail, and logistics are doing well too.
For example, Teamlease data shows that education sector, where the physical classes have opened in primary to tertiary segments, the hiring intent is strong. While 95 percent of the technology firms are planning to hire during April-June (up from 89 percent in Jan-March), some 86 percent of education players are hiring or are willing to hire in the quarter.
“Intent to hire in the information technology sector sees a high rise to 95 percent from 89 percent last quarter. The IT sector was followed by educational services (86 percent), which experienced a 6 percent rise from last quarter. Other sectors that have witnessed a significant hiring intent, include ecommerce and tech, start-ups (81 percent) and healthcare and pharma (78 percent),” as per Teamlease Services data compiled earlier this month.
Naukri.com also underlined that recruiters across the country are indicating a robust hiring sentiment for the first half of 2022 and at least 57 percent of the employers indicate both new and replacement hiring in the coming months till June 2022.
