61% of India Inc keen to hire young talent in Q2 2022: TeamLease Report

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The majority of India Inc is keen on hiring young talent as 61 percent show positive hiring sentiments, said a recent report published on July 6. The overall intent to hire witnessed a seven percent increase from 54 percent in the last quarter, according to the Employment Outlook Report published by human resource company, TeamLease Services.

The data highlights a positive hiring sentiment in the job markets even as Indian startups continue to lay off young talent.

The report shows the forthcoming quarter has positive prospects for candidates looking to apply for junior-level roles. The hiring intent for these roles will see a sharp rise to 61 percent, an increase of 10 percent from the last quarter. Similarly, entry-level roles are set to gain as well, with a six percent increase in hiring intent from last quarter.

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In addition, hiring intent for Engineering roles will have a staggering 13 percent increase to 70 percent, according to the report. Additionally, hiring intent rises by a substantial 10 percent for Marketing roles, to 63 percent as well.

Sales and Information Technology (IT) to see an increase in hiring intent by eight percent each, and touch 90 percent and 83 percent, respectively, said the report.

Human resource and people supply Chain company, TeamLease Services launched the latest edition of the “Employment Outlook Report” for the period of July to September 2022 which carries “Intent to Hire” statistics on the basis of the survey and analysis carried out during April and May 2022.

According to the company, it reflects hiring sentiment across 14 cities and 23 sectors in India.

“Overall the ecosystem is taking a progressive turn, with more organisations projecting the intent to increase their hiring. This optimism is largely influenced by increased public investment in PLI schemes and an advanced Rs 2.65 lakh crore stimulus package. An increase in hiring sentiment is not only imminent but over the next few quarters, it is likely to cross the 70% mark as well,” said Rituparna Chakraborty, Executive Director and Co-Founder, TeamLease.

Chakraborty added, “On the other hand, while few organisations may occasionally stall hiring due to the rise in COVID cases or possible restrictions due to COVID, there will not be any major recalibration in the overall hiring strategy”,

Blue Collar job roles also show a seven percent rise, from 50 percent during the previous term, to 57 percent for the forthcoming quarter.

Intent to hire in small companies is to witness the highest increase of six percent and now stands at 47 percent. However, medium and large-sized businesses are still most willing to hire at 69 percent, an increase of 4% for the quarter.

The report findings show that Metro and Tier-1 geographies top the intent at 89 percent, witnessing an increase of six percent for the forthcoming quarter, compared to the previous quarter. Tier two cities, on the other hand, witness an even higher increase of seven percent in the intent to hire and rises to 62 percent for the forthcoming quarter.

Tier three cities show an increase of three percent, rising to 37 percent, and the rural geography, likewise, shows a nominal rise of two percent.

Within cities, Delhi’s hiring sentiment ranked highest at 72 percent followed by Mumbai at 59 percent and Chennai at 55 percent. These cities were the most promising cities in the manufacturing sector.

From a services sector perspective, the top cities are Bangalore at 97 percent of companies positive on hiring, Mumbai at 81 percent, and Delhi at 68 percent.