RecruiteX – TimesJobs’ recruitment index – registered12% M-o-M and 4% Y-o-Y growth in talent demand in January 2020. This trend marks the starting of the New Year on an optimistic note and brings the much-awaited cheer in the Indian job market.
The RecruiteX January 2020 edition saw FMCG and Healthcare sectors posting the maximum talent demand in the said period.TimesJobsRecruiteX is a monthly recruitment index that records the demand and supply of talent at India Inc.
The Year 2019 saw many spells of active and subtle hiring periods at the India Inc. With the year 2020 unfolding, a 12% M-o-M and 4% Y-o-Y uptick in the talent demand indicates that the corporates have a positive hiring outlook for the Year 2020.
Commenting on these findings, Sanjay Goyal, Business Head, TimesJobs and TechGig said, “The growth in talent demand is an encouraging sign for the economy. January 2020 kick-started with 12% M-o-M and 4% Y-o-Y growth in talent demand, indicating ‘Good Days’ ahead for the Indian Job Market. With Engineering roles being most in demand, and FMCG sector posting the highest talent demand, we can conclude that presently the market has an abundance of IT, and related roles. I hope this momentum continues for the entire year 2020”.
FMCG, Healthcare leads the M-o-M talent demand
An in-depth study of January 2020 talent demand shows that all industrial sectors noted an upswing in talent demand, with Consumer Durables/FMCG sector posting the highest growth of over 30%.
The other top sectors were:
· Healthcare/ Biotechnology/ Pharmaceuticals- 29% growth
· Construction/Cement/Metal/Steel/Iron – 26% growth
· Petrochemicals/ Oil and Gas/ Power – 19% growth
Engineering and Admin roles most in-demand in Jan 2020
Teaching/Education and Hospitality profiles – which typically see a seasonal uptick in demand – noted over 30% and 24% growth in talent demand, respectively.
Other top profiles in demand were:
· Engineering – 20%
· Front Office/Administration – 15%
· Accounting & Finance -14%
Metro cities bullish on talent demand
In the location-wise analysis, top metros claimed maximum growth in talent demand in January 2020. After continuously slipping from the top 10 list, Mumbai claimed the highest growth (of 26%) in talent demand in January 2020, followed by Chennai. Bengaluru and Delhi-NCR registered4% and 3% growth respectively.
Top cities with talent demand were:
· Mumbai – 26%
· Chennai – 20%
· Vadodara – 17%
Experienced professionals in demand
The talent demand for professionals with 5-10 years of experience registered the highest growth of 13%M-o-M in January 2020. This noteworthy change comes after the steep downfall of December 2019, which was lowest in the Year 2019.
· Professionals with 5-10years of experience – 13%
· Professionals with 10-20 years of experience – 12%
· Senior professionals with 20 years of experience – 10%