Hiring activity grew 12 percent year-on-year in December 2021, demonstrating an optimistic recovery cycle towards the end of the year, according to the Monster Employment Index. Recruiting activity has grown solidly over the past six months with a 6 percent increase, while December 2021 saw a 2 percent monthly increase compared to the previous month.
Across experience levels, demand for freshmen (0-3 years) saw a positive increase in hiring activity, with the highest growth of 2 percent. The hiring demand for intermediate level (4-6 years) also witnessed a 2 percent increase, the mid-senior level (7-10 years) grew marginally by 1 percent, and senior level (11-15 years) was witnessing moderate growth. Notably, after months of positive growth, the demand for top management (over 15 years) has been on a downward trend with a 1 percent drop in hiring activity in December 2021 (December 2021 vs. Nov 2021).
Read also| India will become a $313 billion education and skills market by 2030: research
Top management positions (over 15 years) witnessed significant annual growth of 64 percent due to increasing changes in corporate hierarchy and management over the course of the pandemic (December 2021 vs. Dec 2020). Mid-senior level (7-10 years) professionals saw a growth of 37 percent, average level (4-6 years) increased by 30 percent and senior level (11-15 years) by 21 percent. Recruitment demand for entry-level professionals (0-3 years) grew by 9 percent in December 2021 compared to the previous year.
In December 2021, all retail and agribusiness sectors saw a positive 12 percent increase, driven by multi-channel approaches, technology adoption and government initiatives. Demand for healthcare roles witnessed a 6 percent increase due to increasing Covid-19 cases in the country, while roles in HR and administration grew 5 percent, finance and accounts grew 4 percent.
A year-over-year comparison shows that sectors such as retail (14 percent) and travel and tourism (4 percent) have seen a rebound and are expected to grow further into 2022. As many as 22 of the 27 industries witnessed a boom. increase in rental activities. Office equipment/automation (86 percent), printing/packaging (36 percent), BFSI (35 percent), IT hardware, software (30 percent), telecom/ISP (23 percent) also saw vacancy activity. It is promising to note that sectors such as retail (14%) and travel and tourism (4%). pandemic .
Engineering, cement, construction, iron/steel (-13 percent) saw a drop in hiring in December 2021 due to increased labor migration, creating bottlenecks in logistics and construction. Other sectors performing with a sequential decline in labor demand include import/export (-8 percent), government/PSU/defense (-7 percent), media and entertainment (-6 percent) and education (-4 per cent). ). The education sector, which witnessed a complete shutdown of physical classes, continues to recover at a slow pace, the report adds.
Read| 70% Indian companies plan to increase CSR spending on education and skills: survey
As many as 11 of the 13 cities showed optimistic growth prospects with Bangalore (5 percent), Mumbai (4 percent), Delhi-NCR (4 percent), Hyderabad (4 percent), Pune (3 percent). ), Kolkata (3 percent), Chennai (3 percent), Kochi (3 percent), Jaipur (3 percent), Coimbatore (2 percent) and Ahmedabad (1 percent) looked up, while Chandigarh witnessed stabilized growth. Baroda (-1 percent) continued to show a slight decline in hiring activity month on month.
Furthermore, year-over-year, tier-2 cities such as Kolkata (13 percent), Coimbatore (11 percent), Kochi (5 percent) and Baroda (2 percent) saw favorable increases in recruiting activity along with metro cities. Bangalore (29 percent) accounted for the highest growth, followed by the metros Hyderabad (22 percent), Pune (20 percent), Chennai (19 percent) and Mumbai (15 percent). Cities that have shown continued declines in hiring include Jaipur (-12 percent), Chandigarh (-9 percent) and Ahmedabad (-4 percent).
Read all the Latest News, Breaking News and Coronavirus News here.