Talent supply for fresher roles outgrows employer’s demand: Indeed
Indeed recently released its data findings that analyzed the job market for freshers. This report indicated that the number of freshers seeking jobs through searches has seen a 30% YoY increase in October 2021 as compared to October 2020. However, the data indicated that recruiter demand in terms of job postings has decreased by 18% for the same period, suggesting a rising talent supply in a declining job market.
While Indeed’s data suggested that the demand from employers declined towards the end of the year due to consolidation of the workforce and new year planning, the numbers could be expected to increase in the upcoming year as a result of robust vaccination drives and India Inc’s preparedness to handle the pandemic situation better. A similar scenario occurred in January 2021, when hiring for fresher roles increased by 34% due to ease in COVID restrictions that allowed the economy to re-open after the first wave.
The data further indicates, though the IT sector continued to see demand for fresher roles, the demand for non-IT sector and the Light skilled,blue collar jobs in fact outgrew the IT jobs. These included delivery personnel, shop floor assistants, technicians, and mechanics along with marketing, sales and admin roles.
The top 10 roles that witnessed an increase in the job postings among fresher jobs between October 2020 and October 2021 were customer service representative (7%), Sales Executive (3%), Business development executive (3%), New graduate (3%), Telemarketer (3%), Caller (3%), Sales representative (2%), Marketing executive (2%), Back office executive (2%) and Developer (2%).
While demand for non-tech roles may have taken over the tech roles, Indeed’s assessment of salaries indicate that the tech roles for freshers continue to dominate salaries. Top highest-paid freshers’ roles are Software architect, Senior java developer, Product manager, Technical lead, Senior developer, Category manager, Development operations engineer, Back end developer and Project manager.
“While the country’s economy is picking up momentum, recovering from the second wave of the pandemic and general boom in IT & Technology sectors, it’s interesting to note that the positions are being filled slower than expected in the IT/ITeS sector. On the other hand, we see increasing requirements for freshers in blue-collar jobs such as delivery boys, shop floor assistants, sales personnel, mechanics and technicians. Sectors such as e-commerce, FMCG, healthcare, and home services empowered with mass vaccinations are strengthening their workforce. This could have been the result of businesses pivoting to aggressive customer acquisition from stabilizing the operations as they recovered from the second wave,” said Sashi Kumar, Head of Sales, Indeed India.
In light of the fears of great resignation and skilling demands, it will be interesting to see if the employment opportunities pick up in the coming year and which sectors and job professions are on the rise among freshers.