Amidst the stories of layoffs and pay cuts, there's a small glint of hope for hiring outlook this month. With BPO/ITeS and BFSI sectors posing a rise of 24% and 14% respectively in talent demand, the hiring outlook has risen by 4% in May 2017 compared to the previous month. Automobiles and consulting services sectors also posted considerable rise in talent demand during the month. Senior professionals saw their demands rise 5% rise. This has come out in the latest report by TimesJobs’ recruitment index RecruiteX.
"While there is no doubt that automation has led to job cuts in certain areas of the IT/ITeS sectors, we must not lose sight of the fact that new jobs are also being created by the economic growth that is fuelled by this technology revolution. Nasscom has confirmed that there was a net creation of 1,70,000 jobs in the IT sector in FY 2017. In addition, Fintech is transforming the BFSI sector leading to its rapid development and growth. Further, the Ministry of Electronics & IT has launched the India BPO promotion scheme to provide 1,45,000 jobs in the BPO/ITeS sector as well." said Ramathreya Krishnamurthy, Business Head, TimesJobs.
Overall, hiring was quick paced during May 2017. Key employment sectors and functional areas contributed to the rise in recruitment activities. Customer service and tele-calling professionals also reported over 20% rise in demand. Tier II locations witnessed the maximum hiring; Jaipur saw the most growth, with over 20% rise in demand. Senior professionals posted a 5% rise in demand, while freshers & professionals with less than 2 years of experience saw a 4% rise in demand. Automobiles sectors saw a 12% rise in demand. The Real estate sector posted a 9% rise in demand. Consumer durables/FMCG industry saw a 7% rise in talent demand. Healthcare and Pharmaceuticals posted a 5% rise in demand.
During May 2017, talent demand grew across key functional areas. Reflecting the demand in the BPO sector - customer service and tele-calling professionals were the most in-demand profiles during the month. Customer service professionals reported over 20% rise in demand. Doctors, nurse and medical professionals witnessed a 19% rise in demand. Quality control profiles witnessed a 5% rise. Content, editors and journalists posted a 4% rise in demand.
Talent demand was upbeat across all experience categories, with candidates having 10-20 years of experience posting the maximum rise in demand of 5% in May 2017. The category has reported an average 8% rise in demand since March 2017. Freshers & professionals with less than 2 years of experience saw a 4% rise in demand during May 2017, while candidates with over 20 years of experience reported 11% drop.
Talent demand grew significantly in tier II locations and there was positive hiring momentum in most major locations during May 2017. Jaipur was the best performing location during the month. Jaipur posting over 20% rise in talent demand, in May 2017. Among Metros, Delhi NCR reported a 10% rise in hiring activity, followed by Bengaluru with a 7% rise, during the month. Rajasthan (except Jaipur) was the best performing state and reported over 20% rise in demand during May 2017. Gujarat (except Ahmedabad and Vadodara) saw a 14% rise. West Bengal also saw a 7% rise in demand.