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Hiring Trends in 'Unlock 4.0' - Talent Demand Grew in BFSI, IT/Telecom, Hospitality Sectors

 

  • Industry-wise: BFSI posted maximum talent demand in Aug 2020, demand continues to grow in Healthcare for the third month in a row 

  • Location-wise: Chennai recorded the highest growth in M-o-M talent demand

  • Functional area-wise: Banks/Insurance/Financial Services noted maximum growth

  • Work experience-wise: Professionals with 10-20 years of work experience recorded maximum talent demand in Aug 2020




With ‘Unlock 4.0’ in progress, India Inc. noted growth in talent demand in Aug 2020, led by high volume sectors such as BFSI and IT/Telecom. Continuing their growth trend since July’20, both these sectors recorded 8% M-o-M growth (for each) in Aug 2020.

 The Hospitality sector - which has been allowed to resume operations from Aug 2020 – noted 7% M-o-M growth in talent demand, stated TimesJobs RecruiteX monthly edition. The Hospitality sector posted growth in talent demand after June 2020. 

TimesJobs RecruiteX is a monthly recruitment index that records the demand and supply of talent at India Inc. Overall, Aug 2020 noted a 4% M-o-M gain in talent demand. 

Summarising the findings of RecruiteX Aug 2020, Sanjay Goyal, Business Head, TimesJobs and TechGig said, “The present talent demand data findings suggest that India Inc. is focused on recovery and is bullish about roles that are focused on revenue generation or customer services. For example, core roles as Banking, Sales/Business Development saw most talent demand, followed by Customer Services/Telecalling, Engineering roles. With ‘Unlock 4.0 in progress, I'm hopeful that talent demand for services sectors and roles will pick pace.”

Here are more trends from TimesJobs RecruiteX Aug 2020 edition: 


Industry-wise trends:
The BFSI, IT/Telecom, FMCG, Retail and Healthcare/Pharmaceuticals sectors posted positive talent demand in Aug 2020, mostly since they were operational in the partial Unlock period as well. Top three sectors with most talent demand were:


  • BFSI: 8%
  • IT/Telecom:  8%
  • Hospitality: 7%

Location-wise trends: 
Metro cities re-claimed their spot as ‘top job hubs’ as Chennai, Bengaluru and Mumbai recorded growth in talent demand. Only Delhi-NCR saw a dip of (-2%) in talent demand. Top three cities for talent demand in Aug 2020 were:

  • Chennai: 27%

  • Jaipur: 11%

  • Indore:10%

Functional Area-wise:
The Aug 2020 RecruiteX data indicates that revenue generation or customer serving roles were much sought after in Aug 2020. The Customer Services/Telecalling, Engineering, Banks/Insurance, Sales/Business Development, and Doctors/Nurses professionals saw growth in talent demand. Top three functional areas for talent demand in Aug 2020 were:

- Banks/Insurance/Financial Services: 13%
- Sales/Business Development: 12%
- Quality/Process Control: 7%

Work Experience:
India Inc. is presently ramping up its middle management. Top three work experience categories in demand in Aug 2020 were:
- 10-20 years: 19%
- 5-10 years: 3%
- 20 years+:1% 

About RecruiteX:

RecruiteX is the recruitment index for India. It is an analysis identifying the hiring activity and trends in India Inc. Based on tactful extraction and examination of jobs posted and applied for in a month at TimesJobs, it details ‘recruitment’ as a process backed by hiring sentiments of a recruiter and aspirations of the job seekers alike.

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