According to a survey by RecruiteX, A TimesJob’s recruitment index, India Inc has registered a growth in talent demand by 12 percent M-o-M and four percent Y-o-Y in January 2020. The data indicates the optimisim that the new year has brought to the india job market.
The Year 2019 saw many spells of active and subtle hiring periods at the India Inc. With the year 2020 unfolding, a 12 percent M-o-M and four percent Y-o-Y uptick in the talent demand indicates that the corporates have a positive hiring outlook for the Year 2020.
Commenting on these findings, Sanjay Goyal, Business Head, TimesJobs and TechGig said, “The growth in talent demand is an encouraging sign for the economy. January 2020 kick-started with 12 percent M-o-M and four percent Y-o-Y growth in talent demand, indicating ‘Good Days’ ahead for the Indian Job Market. With Engineering roles being most in demand, and the FMCG sector posting the highest talent demand, we can conclude that presently the market has an abundance of IT and related roles. I hope this momentum continues for the entire year 2020”.
The report suggested that all industrial sectors noted an upswing in talent demand, with Consumer Durables/FMCG sector posting the highest growth of over 30 percent.
The other top sectors were:
- Healthcare/ Biotechnology/ Pharmaceuticals- 29% growth
- Construction/Cement/Metal/Steel/Iron – 26% growth
- Petrochemicals/ Oil and Gas/ Power – 19% growth
Teaching/Education and Hospitality profiles – which typically see a seasonal uptick in demand – noted over 30 percent and 24 percent growth in talent demand, respectively.
Other top profiles in demand were:
- Engineering - 20%
- Front Office/Administration - 15%
- Accounting & Finance -14%
In the location-wise analysis, top metros claimed maximum growth in talent demand in January 2020. After continuously slipping from the top 10 list, Mumbai claimed the highest growth (of 26%) in talent demand in January 2020, followed by Chennai. Bengaluru and Delhi-NCR registered4% and 3% growth respectively.
The talent demand for professionals with 5-10 years of experience registered the highest growth of 13%M-o-M in January 2020. This noteworthy change comes after the steep downfall of December 2019, which was lowest in the Year 2019.
- Professionals with 5-10years of experience – 13%
- Professionals with 10-20 years of experience – 12%
- Senior professionals with 20 years of experience – 10%