News: Modest revival in hiring rates in India

Talent Acquisition

Modest revival in hiring rates in India

As localized curfews gradually lifted and economic activity partially resumed, the hiring rate saw a slight revival to 35 percent in May 2021.
Modest revival in hiring rates in India

According to the data released by LinkedIn, the hiring rate in India recovered moderately to 35 percent in May from 10 percent in April. However, the aftermath of the second wave of COVID-19 has left professionals in India increasingly vulnerable to economic uncertainty.

The hiring rate in India dropped from 50 percent in March 2021 to 10 percent in April 2021. However, as localized curfews gradually lifted and economic activity partially resumed, the hiring rate saw a slight revival to 35 percent in May 2021. Finance, corporate services, manufacturing, healthcare, and hardware and networking are among the dominant industries,  hiring on the platform. Further, more than 9 in 10 companies in India are merging roles and looking to fill open roles internally.

Amidst the pandemic in 2020, roles in the field of specialized engineering, artificial intelligence, cybersecurity, and data science were in demand. After a year, the demand for IT talent continues to surge as application developers, software engineers, and SAP specialists emerged as the top 3 in-demand jobs as per LinkedIn's May 2021 data

While hiring rates might have revived, another insight from LinkedIn indicates that working women and young professionals remain vulnerable to economic turbulence. The data suggests that working women are 4x less confident than working men, while the average time taken for new graduates to find jobs has increased from 2 to 3 months.

Another finding suggested that burnout seems to have emerged as a major problem amidst the pandemic. "As this dynamic hustle for upskilling, tech-proofing, and recruiting continues, India's workforce has slowly but surely arrived at the brink of collective burnout," the study said.

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Topics: Talent Acquisition, Recruitment, #Hiring

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