There is expected to be a big leap in hiring during the July-September quarter, finds data from global and local human talent management company Spectrum Talent Management.
An overall growth of 50% in hiring is expected in the incoming quarter.
Sectors like IT, telecom, BFSI, FMCG and healthcare saw a significant QoQ (quarter on quarter) and YoY (year on year) increase ranging at a 25% increase up to 90% increase with respect to their domains. Some other sectors like manufacturing, automotive and EPC have been watchful during the last year due to apparent constraints but now the hiring scenario is expected to change in this year.
“The surge in hiring was expected from the beginning of the year post-two-year hiatus of the pandemic. When compared to the same period last year, there is already a 45% improvement in hiring sentiments this year, especially in entry-level jobs. Apart from the accelerated rate of digitisation and automation, the hiring is led primarily by two sectors – BFSI and IT services,” saidSidharth Agarwal, director, Spectrum Talent Management.
“Companies are also focusing on full-stack retention strategies due to the talent crunch in the market. This situation works in favour of high performers (current employees) and individuals who are potentially looking out for a change in the coming few months,” Agarwal said.
Despite the challenges faced by companies post the Covid waves, there is an apparent increase in hiring as a result of subsequent recovery due to the stabilisation of the market. Further, the need for digitisation has resulted in every company ramping up their workforce in order to stay ahead of their competition.