Indeed, an American worldwide employment site, released the latest India Hiring Tracker mapping quarterly job market activity up to June 2021.
Commenting on the India Hiring Tracker, Sashi Kumar, Head of Sales, Indeed India said, “As businesses continue to find a rhythm of working through multiple pandemic challenges, the tracker reflects the resilience of India’s labour market. With hiring activity seeing a month-on-month increase, it was interesting to see businesses pivot their hiring priorities from operation roles to sales roles. It’s also clear that paying attention to employee expectations will enable them to thrive, so ongoing conversations around wellbeing and hybrid work are vital.”
It states that overall hiring increased by 11% over the previous quarter, with standout growth in Information Technology (61%), Financial Services (48%), and BPO/ITeS (47%) as the job market begins showing signs of recovery from the Second Wave. Large businesses continued to dominate hiring activity (59% of employers), while hiring by mid-sized businesses saw a decline (38%). Also, fewer surveyed employers were hiring between April-June compared to the previous quarter (42% vs 64%) with Bangalore continuing to lead hiring (56%) and Kolkata replacing Chennai at the bottom of the hiring list (34%).
In order to stabilize business operations in Q4FY’21, there was greater focus on roles driving sales and revenue. As a result, roles such as Sales Coordinator (83% of all employer respondents), Relationship Manager (77%), Digital Marketer (69%), UI/UX Designer (61%), and Quality Analyst (53%) were the most in demand.
One also finds that 76% of the jobseekers surveyed did not receive Covid-related benefits/compensation packages or mental health support. Appraisal plans were also impacted. 70% of employees said that they did not receive any promotion or pay increase this quarter, with only 11% of employers promoting or offering salary increases.
When it comes to future work models, employers and employees aren’t on the same page. While employers preferred a hybrid work model (42%) to remote work (35%), jobseekers favored remote working (46%) over a hybrid approach (29%). 51% of women compared to 29% of men were found to say that they wanted to continue working from home, while 52% of senior management preferred working from home, compared to 36% of middle level and 31% of junior level employees.
The number of job seekers and job changers increased slightly over the previous quarter (70% vs 68%), with 52% at entry level, 44% mid-level and 18% senior level. Jobseeker priorities also shifted, with 25% saying salary was their primary focus, followed by career growth (19%), learning opportunities/challenges/responsibilities (16%), and company reputation (14%). Startup-SME jobs were the top picks for post-graduates (44%) and mid-level job seekers (42%). But preference for roles in MNCs/Large companies (43%) was marginally more widespread during Q1FY’22 than during the previous quarter (38%).
All of these results are crucial for organizations to strategize for the future in terms of recruitment, employee wellness and implementing hybrid work models as they adjust to the new normal.