Hiring is likely going to increase, claims TeamLease EdTech, “Career Outlook Report”, for the period July to December, 2022. The bi-annual report claims that 59% of employers in India are keen to hire freshers between July to December, 2022 – a 12% increase vs. H1 2022 and a 42% increase vs. H2 2021.
From an industry perspective, Information and Technology, Ecommerce & Technology Start-ups and Telecommunications are the most promising sectors for freshers with 65%, 48% and 47% employers showing the intent to hire, respectively, adds the report.
“Powered by increased spending in the sector (US$ 101.8 billion this year), increased exports (8% to 10% increase in FY22-23), growth of the software product industry and the government allocating a US$ 11.58 billion budget; the IT sector is rapidly growing and is expected to hire 100,000 freshers to meet rising demand. On the other hand, telecom companies are looking forward to infuse Rs 3345 crores in the sector and expand their data centres pan India,” points the reports.
The report state that there is 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; with majority of companies hiring freshers. On the other hand, some industries where hiring sentiment was muted are Travel & Hospitality (7%), Agriculture and Agrochemicals (9%), Real Estate: Non-Essential (9%) and Maketing & Advertising (9%).
The report also analyses the top locations for freshers. Bengaluru emerges as the leading city for freshers with 68% employers projecting the intent to hire, followed by Mumbai (50%) and Delhi (45%). In H1 2022, hiring sentiment of employers in Bengaluru, Mumbai and Delhi stood at 59%, 43% and 39% respectively. In H2 2021 (same period last year), the hiring sentiment for employers in Bengaluru, Mumbai and Delhi stood at 43%, 31% and 27%, respectively. The locations which have shown slow hiring sentiment are Kochi (2%), Indore (2%), Coimbatore (3%) and Chandigarh (5%).
Sharing his views, Shantanu Rooj, Founder & CEO, TeamLease EdTech, said, “The sentiment around entry level jobs and freshers hiring is significantly improving in India. More employers willing to increase their freshers resource pool is, in fact, an evidence of this trend and indicates that the employability of the country’s youth has undergone a value driven change over the last few years. A lot of this is attributed to the alliance between employers, academia and industry; which has played an instrumental role in creating the right kind of programs (like apprenticeship embedded degrees) to educate and up-skill candidates. Within a year, freshers hiring sentiment has seen a 42% increase and we are optimistic that this will go up rapidly in the coming years as well”.
“While employers are keen to hire freshers, they have also become very particular that candidates should have the right mix of domain and soft skills. Today, industry knowledge takes precedence and therefore academic institutions are also creating skill focused blended learning programs which are fortifying the employability of students and making them job ready for future roles”, added Neeti Sharma, Co-Founder and President, TeamLease EdTech.