India Inc is on CXOs hiring spree: Report
A report by TimesJobs RecruiteX finds that the demand for senior hires is on the rise.
Amid the fear of economic slowdown and speculations about the return of recession, hiring for senior professionals with 20+ years of experience has noted a double-digit growth (17 percent), reveals TimesJobs RecruiteX. In Y-o-Y comparison, senior executives in this experience bracket recorded 28% growth.
Commenting on this, Sanjay Goyal, Business Head, TimesJobs & TechGig shares, “This month FMCG sector noted the highest growth in talent demand, and work-experience wise senior professionals with 20+ work experience registered the highest growth too. Co-relating these facts, we can conclude that most businesses are gearing up for the impending festive season and organizations are looking to strengthen their leadership teams. This, and other factors, have pushed senior-level hiring at India Inc.”
Key findings from the study suggest:
Consumer-led sectors drive hiring: Among the top 10 sectors, hiring is up in consumer-driven sectors including consumer durables, FMCG and retail as the festive wave has begun
- Consumer Durables/FMCG – 18%
- Retail – 15%
- Construction – 11%
Pharma professionals in demand: Demand for Biotechnology/pharmaceutical professionals clocked double-digit growth and media professionals made to the top 10 list for the first time in 2019.
- BioTechnology/ Pharmaceuticals – 14%
- Engineering – 10%
- Entertainment/ Media/ Journalism – 9%
Pune topped the demand chart: Among the top 10 locations, Pune recorded the highest demand. None of the metros made to the top three spots in August’2019
- Pune – 22%
- Indore – 10%
- Chandigarh – 5%
CXOs in demand: Senior professionals with 20+ work experience noted 17% growth in M-o-M comparison of talent demand in August 2019
- Professionals with 20+ work experience - 17%
- Professionals with 10-20 years of work experience - 6%
- Professionals with less 2 years of work experience - 3%
The study highlights the increased momentum in hiring for CXO positions can be due to two reasons, either India Inc is replacing the old ‘non-performers’ or creating new positions citing business expansion/growth/new technology.