Talent demand is on upswing with 22% Y-o-Y growth: RecruiteX Report
New Delhi, July 13 (KNN) Talent demand is on an upswing at India Inc. - indicating that it is business as usual at the corporate floors as the Modi 2.0 government is settling in and formulating the new union budget, according to RecruiteX, June 2019 edition, released by TimesJobs.
RecruiteX is a monthly recruitment index that records the demand and supply of talent across different industries.
Commenting on this report, Sanjay Goyal, Vice President at Times Internet and Business Head, TimesJobs and TechGig said, “It is promising to see that the talent demand is positive and the IT sector has traditionally been a big employment generator in India. Other than this, sectors like, Healthcare, Construction, and Consumer Durables, FMCG sectors have also witnessed a strong year over year (Y-o-Y) growth in terms of talent demand.
According to the report, there is an increase of 22 percent y-o-y growth in talent demand this year against last year. IT and Telecom had highest Y-o-Y growth in talent demand followed by Consumer Durables and FMCG.
Taking the top metro cities in consideration, three major cities with most talent demand Y-o-Y study includes, Chennai with 46 percent growth followed by Indore with the same rate and Bengaluru with 42 percent. In terms of states, Andhra Pradesh (except Hyderabad) posted an impressive 64 percent uptick in Y-o-Y study of talent demand, the report stated.
Moreover, professionals with an experience in between 10 to 20 years were most in demand in June 2019 against June 2018, it revealed.
In sector wise, Y-o-Y analysis revealed that Healthcare and Construction sectors have witnessed 21 percent growth each in talent demand, claiming the third and fourth spot on the list. Retail sector ranked at the highest growth with 7 percent in talent demand in the month over month (m-o-m) analysis. The retail sector is followed by Consumer Durables with 3 percent.
The report further pointed that the IT and Telecom are the sectors which registered highest talent demand with 28 percent growth followed by Consumer Durables/FMCG with 23 percent growth. Whereas healthcare has seen 21 percent growth.
However, the Retail sector claimed the highest talent demand in June 2019’s M-o-M comparison and noted 16 percent Y-o-Y growth.
IT/Telecom with 31% growth is one of the functional areas that are most in demand according to the report followed by logistics and supply chain management which registered a 20 percent growth whereas sales and business development have seen a hike of 19 percent.
Taking the work experience most in-demand Y-o-Y study states that work experience of 10 to 20 years have seen 31 percent growth. Less than 2 years is a growth of 21 percent whereas the experience of 5 to 10 years have recorded 19 percent growth.