- New hires are likely to be highest for entry and junior level positions in
- Most jobs are likely to be created in Bangalore, Chennai, Mumbai,
- Large companies show the highest intention to hire, while small companies show the strongest growth in intention to hire.
However, new hires are likely to be entry-level and junior-level positions, where hiring intent is highest. Hiring intent is gradually declining for mid-level jobs, bottoming out for management positions, according to TeamLease’s second quarter employment outlook report.
“India’s GDP for the fiscal year 2021-22 reached 8.7% after contracting by 6.6% in the previous fiscal year. This, and a host of public investment in programs PLIs (production-linked incentives) – in solar cell manufacturing and bulk drugs for example – are likely to boost job creation in the coming quarter,” the report said.
Hiring intent, however, was highest in the IT sector, followed by educational services, e-commerce and related startups, healthcare and pharmaceuticals, and telecommunications.
Most of these jobs are likely to be in the metros – Bangalore, Chennai, Mumbai, Delhi and Hyderabad, in that order. Pune, Ahmedabad and Kolkata have “moderate” intent, the report adds.
“The result is that rural areas and Tier 3 cities don’t have as much hiring intent as larger cities, and the slow increase suggests it could be a while before opportunities appear. grow more in these geographies,” the report said.
The survey was conducted in 14 Indian cities and 23 sectors, covering 865 small and medium enterprises as well as large enterprises.
According to TeamLease, the IT sector recorded the highest attrition rate of 22% from April to June 2022. E-commerce and allied startups came in second. Other sectors with a high attrition rate were electric vehicles, consumer packaged goods and the textile sector.
Hiring intent for engineering positions increased by 13%. The most requested position is marketing, which rose from 53% to 63% in the second quarter.
Large companies show the highest intention to hire, and small companies show the strongest growth in intention to hire. The survey also found that unicorns and “Soonicorns” (soon unicorns) had the highest hire intent, followed by companies in the “mature” category and startups.
SEE ALSO: Akash Ambani’s MI Emirates Named Squad For UAE’s Inaugural ILT20 – Meet The Team Members
Balaji Specialty Chemicals Files Draft IPO Documents