Riding high on the wave of pandemic restrictions lifting off and consequent improvement in eCommerce and retail sectors performance, hiring intent has touched its zenith mark in Q3 2021 (Oct-Dec) with 41 percent, a 3 percent gain over the Jul-Sep quarter (Q2), reveals a TeamLease Services report. The workforce number is expected to expand by 430 million approximately by Dec 2021.
Associated sectors like eCommerce and technology startups (57 percent), FMCG (59 percent), retail (51 percent), and logistics (47 percent) have shown an uptick as compared to last quarter with the intent being at 53 percent, 51 percent, 48 percent, and 44 percent respectively. Blue-collar hiring intent has seen an upsurge of 40 percent to meet sales delivery and warehousing management expectations. The IT sector has seen the maximum intent amongst business leaders to hire with 69 percent of companies confirming it; this is despite the current widely recognized attrition level in the IT sector (8.67 percent). Other sectors with high intent to acquire fresh talent are educational services (64 percent), healthcare and pharma (61 percent), and manufacturing, engineering and infrastructure (39 percent).
Speaking on the new recruitment trends, Ajoy Thomas, VP & Business Head, Retail, E-Commerce, Logistics & Transportation (RELT) vertical at TeamLease said, “India is growing at an 8 percent GDP rate owing to the rapid inoculation rate. Not to mention, precedents like fewer supply chain disruptions and festive season-led eCommerce sector growth are crucial reasons behind corporate recruitment appetite.”
The workforce requirement is slated to increase with Bangalore (67 percent), Delhi (59 percent), and Hyderabad (53 percent) leading the charts as opposed to 60 percent, 51 percent, and 41 percent companies intending to hire last quarter respectively. Other non-metro cities like Pune and Chandigarh are also expecting huge talent demand with hiring intent uptick by 46 percent and 43 percent respectively.
The hiring intent of non-metro cities, tier-2 and tier-3 cities, and rural areas viz-a-viz Tier 1 cities (metro cities) has also seen marked improvement from last quarter. While tier-2 cities witnessed a 40 percent intent growth, tier-3 saw a growth of 26 percent.
The findings from TeamLease Services also highlight the roles that will be popular with the Indian corporate world with hiring intent for different profiles being- sales (58 percent), IT (43 percent), marketing (40 percent), and engineering (37 percent). Even the salaries of professionals are overshooting with average salary growth being 8.55 percent for IT profiles, 9.82 percent for sales profiles, and 10 percent for BFSI and healthcare profiles. The hiring momentum is expected to sustain itself moving into the next quarter (Q4) and calendar year 2022.