Article: Loan officers 1, techies 0: Who's being hired now?


Loan officers 1, techies 0: Who's being hired now?

While techies are being laid off in 1000s, banks are busy hiring loan officers.
Loan officers 1, techies 0: Who's being hired now?

Ever since the COVID-19 pandemic, tech roles have been on a rise, with new age roles like web3, blockchain, cloud and security gaining prominence. However, findings from global jobs site Indeed reveal that BFSI, healthcare and gig roles show a strong increase in jobs as the pandemic effect relatively subsided in 2022.

The largest increase in jobs was seen for the role of loan officer with a 295.7 percent change in share of jobs. Bank officer (201.6 percent change) was another role in the same sector that saw a tremendous increase. 

Roles in healthcare and allied fields also saw an increase in jobs in 2022 with radiologist, pharmacist, and dentist showing an increase of 162.5 percent, 156.1 percent, and 133.2 percent respectively. In addition, roles like receptionist (248 percent) and electrician (130.5 percent) also grew exponentially. 

Decline in tech roles

The biggest decrease in jobs were seen in tech-led roles. Software engineering manager, application developer, and senior technical specialist are some of the job roles with the largest decrease in jobs. 

“In 2022, we saw a significant increase in non-tech roles, given the relative return to normalcy in various sectors and we expect them to be at the forefront in job recovery in 2023. Additionally, we foresee the growth of gig roles as well, with Indeed’s data showing that a 9-11 million strong gig workforce is in the making in the next three years,” said Sashi Kumar, Head of Sales, Indeed India.

“Tech roles are currently on a downward trend given that global technology companies are hiring cautiously due to the various economic shifts. However, in 2023, India will still see a demand for tech roles, especially in areas like 5G and telecommunications, given India’s progress in this space.”

Overall, while employers were cautious in hiring in 2022, job postings on Indeed in December 2022 were well above their pre-pandemic baseline (February 2020) by 181 percent. 

Looking ahead into 2023, employers are in fact optimistic about their hiring activity – with 45% of employers surveyed by Indeed foreseeing upto a 20% increase in hiring. 

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Topics: Recruitment, Talent Acquisition, #Hiring

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