Overall hiring activity in India jumped 12 per cent on-year in June, as against the same period previous year. Bengaluru is witnessing a surge in hiring, while the manufacturing sector leads the pack.
According to the foundit Insights Tracker, “Online hiring activity has maintained its upward trend, showing a robust 12 per cent year-on-year growth in June 2024.” This is higher than the tracker’s estimate of a growth of 8.3 per cent for the year.
There has been a 15 per cent increase in hiring over the last six months, reaffirming a positive hiring outlook for the current year.
On top of the list is the manufacturing industry with a jump of 43 per cent on-year, driven by investments in automobile, consumer electronics, and textiles and apparel sectors. The Construction and Engineering industry has also experienced a 29 per cent increase hiring, while Consumer Electronics was up 28 per cent, Real Estate 27 per cent, Energy and Retail 26 per cent, and IT 21 per cent.
When it comes to functions, hiring in hospitality was up 36 per cent, marketing and communications 24 per cent, medical roles 14 per cent, IT 10 per cent, legal 7 per cent and senior management 5 per cent. Creative, engineering and production, finance and accounting, and sales and BD functions all saw a drop.
Bengaluru saw the highest jump among cities in terms of hiring at 24 per cent on-year, followed by Coimbatore with 23 per cent, Jaipur 21 per cent, Delhi-NCR 18 per cent, Hyderabad 17 per cent, Pune 12 per cent, Kolkata 8 per cent, and Chennai 7 per cent. Mumbai, Chandigarh, Ahmedabad, Kochi all saw a drop in hiring.
When it comes to experience levels, demand for employees with over 16 years of experience was the most at 8 per cent, followed by mid-senior levels with 7-10 years of experience at 7 per cent, and entry-level jobs with up to 3 years of experience at 2 per cent. Senior levels with 11-15 years of experience saw a decrease of -1 per cent, and associate roles with 4-6 years experience saw no change.
Meanwhile, diversity hiring surged by 33 per cent year-over-year. The report added that this underlined the growing importance of diversity and inclusion (D&I) policies. “While there are seasonal peaks, particularly around Pride Month, the overall trend remains positive with notable spikes in June 2023 (37 per cent) and May 2024 (57 per cent),” it said.
BFSI sector leads when it comes to shares of diversity jobs at 30 per cent, followed by IT - Software & Services with 19 per cent, Healthcare at 6 per cent, Internet/E-commerce at 4 per cent, and Education at 3 per cent.
“Job postings now prominently feature inclusive language, specifying preferred pronouns and avoiding gender bias. Additionally, there is a strong push to promote women to leadership roles through mentorship and specialized training programs,” said the report.
When it comes to diversity hirings, Bengaluru and Pune topped the chart with 16 per cent D&I hirings, followed by Mumbai at 11 per cent, Hyderabad 10 per cent, Delhi-NCR 9 per cent, and Chennai 7 per cent.