Digital Transformation

Indicating hope: Hiring activity across industries increase

todayAugust 31, 2021 4

Background

Hiring activity in India has touched an all-time high in July 2021, indicating a strong revival of economic growth and a sustained recovery from the impact of Covid-19 on business, according to the latest Naukri JobSpeak report. The country’s premier index on hiring trends grew by 11% in July’21 vs. June’21, to touch 2,625, the highest it has ever been, including the pre-COVID timeline. The Indian job market has witnessed sequential growth for the second month in a row, with a 15% rise in June’21, after a pandemic-linked decline in April and May’21.

Rapid digital transformation across all sectors drives up demand for jobs in the IT sector by 18%

As businesses continue to ride the wave of digitization, the IT-Software/Software Services sector maintained its steady, upward growth with an 18% increase in July’21 when compared to Jun’21. This demonstrates that enterprises are actively leading their recovery efforts and driving growth with digital transformation at the centre. In June’21, this sector had grown past the pre-pandemic levels in June’19 by as much as 52%. The month-on-month (MOM) sequential growth of jobs in the IT-Software / Software Services sector has been very encouraging at 11% in June’21 and 14% in May’21.

July ‘21 records higher demand for jobs across all functional areas; freshers have more job options

While IT-Software roles have always enjoyed high demand and grew 16% in July ‘21 vs. June ‘21, most functional areas continued to recover and build on the positive growth shown in June ‘21. Sectors like Hospitality (+44%) and Travel (+42%) bounced back in July’21 and Sales/BD (+15%), HR/Administration (+11%) and Accounts/Finance (+10%) also saw a sequential rise in hiring activity in the last one month. The Naukri JobSpeak index for July’21 reports 9% and 4% growth in the Banking/Insurance and Teaching/Education roles respectively. Hiring in the Marketing/Advertising/MR/PR (+4%) domain also increased while Pharma/Biotech roles showed a marginal 3% degrowth July’21 vs June’21.

Hiring activity doubled (+108%)  in July’21 compared to July ‘20, indicating that businesses were more prepared and recovered faster from the effect of the second COVID wave as against their response to the first wave in 2020.

Within metros, Y-O-Y hiring was once again led by IT hubs including Bengaluru (+202%), Hyderabad (+193%), Pune (+186%) and Chennai (+146%). Hiring activity in Kolkata (+112%), Delhi/NCR (+108%) and Mumbai (+103%) was also positive during the same period. Among the tier-II cities, Ahmedabad (+145%) recorded the highest growth while Coimbatore (+54%), Chandigarh (+50%), Kochi (+50%) and Vadodara (+42%) also recorded decent growth.

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