Hiring activity in e-recruitment space dips by 2% in January: Report

Hiring activity in the e-recruitment white-collar space in Jan witnessed 2% year-on-year decline mainly due to slowdown in sectors including IT, telecom, manufacturing and healthcare, a report said

Hiring activity in the e-recruitment white-collar space in January witnessed 2 per cent year-on-year decline mainly due to slowdown in sectors including IT, telecom, manufacturing and healthcare, a report said on Wednesday.

E-recruitment refers to the process of employing talents using various online sources.

Demand for jobs in production and manufacturing declined by 8 per cent as did in healthcare (7 per cent), IT hardware and software (7 per cent), telecom (5 per cent) and banking, financial services and insurance (3 per cent), according to Foundit (formerly Monster) Insights Tracker (fit) for January 2023.

While IT faces a lull due to global macro conditions and course correction from last year's hiring surge, production hiring was impacted due to cost pressures and a rise in input prices.

 

BFSI (banking, financial, services and insurance) sector, which had continuously witnessed positive hiring numbers, has noted a marginal dip of 1 per cent annually, the report stated.

The report further noted that tech skills are still in high demand by recruiters across all sectors.

Foundit Insights Tracker (fit) is a comprehensive monthly analysis of job posting activity online across recruitment platforms.

Delving into the geographic trend, the tracker revealed that e-recruitment activity grew by 16 per cent in Ahmedabad, mainly driven by advertising, MR and PR and the BFSI industry.

Chandigarh (6 per cent) observed an increase in hiring in January after a long time, while Mumbai (7 per cent) continued to record strong growth among metros whereas Delhi-NCR (4 per cent) charted a positive trend after a drop in the last quarter, it said.

However, Kolkata (-25 per cent), Bangalore (-13 per cent), Baroda (-7 per cent), Hyderabad (-7 per cent), Chennai (-9 per cent), Kochi (-6 per cent), Pune (-3 per cent), Jaipur (-2 per cent) and Coimbatore (-2 per cent) saw the most restrained hiring activity and continue to weigh down the index recording negative annual growth in January, it said.

"The Union Budget 2023 has identified the acceleration of growth and job creation as key priorities for economic development, while undoubtedly reiterating the need for Indian youth to be skilled and employable. The government's impetus towards the creation of jobs in tourism as well as the green economy holds expansive potential," Foundit (previously Monster APAC & ME), a Quess company, CEO Sekhar Garisa said.

Along these lines, Foundit has noted a 64 per cent growth in demand for green jobs since January 2022 and this growth is expected to continue, he noted.

"Upskilling measures in niche areas like coding, artificial intelligence, robotics, mechatronics and internet of things (IoT) will enable a pool of opportunities in the upcoming months allowing for expansive adoption of tech across all sectors," Garisa added.