India Inc. is expanding its recruiting after a two-year slump. That’s a bonanza for job searchers with the appropriate set of future-proof talents. Companies are prepared to go the extra mile to recruit applicants because they recognise the shortage of talent and are willing to provide double-digit wage increases, healthcare benefits, and locations outside of major cities.
That is the employment environment shown in a research called “Talent Insights” by Mint-Shine.com (Shine.com is a subsidiary of HT Media Ltd, which publishes Mint). In comparison to the prior quarter, the April–June quarter saw a 61 percent rise in jobs on Shine’s employment portal, or a 1.6-fold increase in job posts. The industries that have added the most new positions during the past three months are information technology (IT), BPO/call centres, and recruiting services.
Fewer posts were made in the first quarter of FY21, while the second wave of COVID was raging.
Since then, most industries have experienced a rise in the need for labour, as more businesses have opened, relocated, or adopted hybrid business models.
Hospitality, one of the industries that took the brunt of the epidemic, is starting to recover.
(Click here to see the complete report on hiring trends)
The survey found that the top industries for hiring in FY22 were IT (16%), hotel (10%), energy (8%) engineering and construction (7%) and banking and financial services and insurance (BFSI, 9%) The biggest increases in the number of posts from FY21 to FY22 were in broking, shipping, and automation, at 863 percent, 603 percent, and 594 percent, respectively. According to the data that is currently available for the first quarter of FY23, the top industries for job listings were IT (21%) BFSI (16%), which included banking and financial services (9%) and insurance (7%) BPO/call centres (10%), and recruiting services (9 percent ).
What HR wants to see:
For workers, the job boom is excellent news. According to human resources (HR) directors Mint talked with, businesses must devise strategies and incentives to draw in new workers without negatively impacting their financial sheets.
