Hiring is back in business : Mint Shine Talent Insights
After a two-year covid lull, India Inc is hiring in greater numbers. For job seekers with the right set of future-proof skills, that’s a windfall. Companies realize that talent is in short supply and are willing to go the distance—from double-digit pay hikes to healthcare benefits to looking beyond metros to hire candidates.
The first quarter of FY21, when the second wave of covid was raging, had registered fewer postings. Since then, most of the sectors have shown an increased demand for workforce with companies opening up, and either returning to physical office or adopting a hybrid model. Sectors like hospitality, which had faced the heaviest brunt of the pandemic, are beginning to revive.
According to the study, sectors like IT (16%), hospitality (10%), energy (8%), engineering and construction (7%) and banking and financial services and insurance (BFSI, 9%) were among the top recruiters in FY22. Broking, shipping and automation saw the largest jump in the number of postings in FY22 compared to FY21—863%, 603% and 594%, respectively. In the data available for the first quarter of FY23 so far, the top sectors by number of job postings were: IT (21%), BFSI (16%, of which banking and financial services comprised 9%, and insurance 7%), BPO/call centres (10%), and recruitment services (9%).
What’s on HR wish list
The hiring frenzy is good news for employees. Human resources (HR) heads Mint spoke to said that companies are having to come up with measures and incentives to attract new employees while ensuring their balance sheets do not take a hit.
But which employees have an edge in the market? “Demand for digital professionals with relevant skill sets and experience in 2022 will be high. High churn in the IT services sector will ensure round-the-clock hiring this year" said S. Venkatesh, group president-HR of RPG Enterprises, which employs about 30,000 people.
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