Job market: Intent to hire at 18-month high in Q3FY22

Hiring activity is expected to witness a strong rebound in the third quarter (October-December) of FY22, with employers reporting the most optimistic hiring outlook in 18 months, showed Teamlease Employment Outlook Report.

The intent to hire plunged to the lowest level (18 percent) during the April-June and July- September quarters of FY21.

Of the 650 companies surveyed across 21 sectors, 41 percent intend to hire in this quarter, up from 38 percent companies in the July-September quarter.

"Robust GST & e-way bill generation, recovery of the manufacturing PMI, increasing in business activities, improvement in the industrial and service sector activity, rise in demand across sectors and the ramping up inoculation are not only positively impacting the economy but also the job scenario," said Rituparna Chakraborty, Co-Founder & Executive Vice President - TeamLease Services.

Though this quarter may have seen a 3 percentage point, the larger picture is that there is a 5 percent quarter-on-quarter growth in the hiring sentiment since January, indicating that the recovery is on the right track and we would need is only fast tracking to offset the impact of the pandemic, Chakraborty added.

Sector and Regional Trends

The intent to hire is the strongest in Information Technology at 69 percent, followed by Educational Services (64 percent), Healthcare and Pharmaceuticals (61 percent), FMCG (59 percent) and E-Commerce (57 percent)

Region-wise trends show that the strongest hiring intent is in Bangalore at 67 percent, followed by Delhi 59 percent, Hyderabad 53 percent, Pune 46 percent and Chennai 45 percent

Job Level and Functional Area Trends

The intent to hire during October- December quarter was the strongest for entry and junior level roles at 34 percent each followed by 27 and 24 percent for senior and mid level jobs respectively.

With respect to functional areas, the intent to hire was highest for sales at 58 percent followed by Information Technology (43 percent), Marketing (40 percent), Engineering (37 percent), Blue Collar (40 percent) and Human Resources (14 percent).