New Delhi, April 14 (IANS) TeamLease Services, Indias leading human resource company, has launched its hiring sentiments report called ‘Employment Outlook Report for the period April-June, 2021.
According to the report, if further lockdowns and workplace operating rules are not enforced, the intent to hire in the current quarter (April-June 2021) can rise to 7 percentage point over the previous quarter (Jan-March 2021). In fact, out of the 21 sectors reviewed, more than eight sectors will witness 9-11 percentage point rise in their intent to hire in the current quarter.
As per the report, healthcare & pharmaceuticals, educational services, e-commerce & technology startups and information technology are the key sectors which are likely to ramp up their talent pool.
In fact, more than 58 per cent of the corporates in the healthcare & pharmaceuticals sector, which is nearly 11 percentage points higher than the Jan-March period, are keen on hiring talent.
Educational services, e-commerce & technology startups and information technology companies have also indicated similar enthusiasm with 55 per cent (12 percentage point growth), 51 per cent (10 percentage point growth), and 50 per cent (11 percentage point growth) of the companies expressing their intent to hire, respectively.
According to the report, while there is an overall positivity, power & energy, BPO/ITeS, media & entertainment consulting, marketing & advertising, travel & hospitality may take more time to reach the kind of intent to hire that the other sectors are expressing.
Further, from a geographical perspective, while the Metro and Tier 1 cities (32 per cent) take the lead in terms of overall intent to hire, with 9 per cent increase each, Tier 3 cities are also not far behind, witnessing a 5 percentage point increase.
Barring Kochi, Coimbatore, Nagpur and Kolkata, most of the cities have expressed a growth in keenness to hire. With regard to functional areas similar to the previous quarter, sales (41 per cent) and marketing (34 per cent) continue to be the most sought after functional roles. However, when it comes to hierarchy the preferences seems to have changed substantially. The intent to hire senior level talent has dropped by 4 percentage point over Jan-March, 2021.
Elaborating about the report findings, Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services, said, “Indian economy has been regaining the lost ground and the same is reflecting in hiring as well. Be it the IMF, OECD or Fitch, all have been positive and this is bolstering the business sentiment and the intent to hire.
“However, if we resort to lockdowns, it will derail and further delay the recovery. In fact, it will impact the scope of growth in employment negatively. If we continue with our efforts and not opt for lockdowns, the business optimism will remain intact and so the hiring. The intent to hire will grow from 27 percentage point (Jan-March, 2021) to 34 percentage point in the current quarter.”
According to the report, large and medium businesses will drive the demand for talent rather than the small businesses. Further, the attrition levels have plummeted across sectors with the onset of the Covid-19 pandemic, and are likely to remain so for the foreseeable future.