Hiring momentum slows down during the festive season by 2% in October 2016 – Finance and Accounting sector bucks the trend
November 8, 2016: The hiring momentum slowed down by 2% in October 2016 according to the latest TimesJobs RecruiteX Report. This mirrors global employment trends, which show a dip in hiring activity during this time of year with festivals, celebrations and year-end vacations slowing down recruitment cycles.
“The RecruiteX data trend shows a regular dip in hiring around this festive season. Most people take their annual vacations during this period and it reflects in the manpower planning strategies of companies – which defer recruitments during this period. Post festivities, talent demand is seen to pick up pace," says Nilanjan Roy, Head of Strategy, Times Business Solutions.
"The rise in demand for professionals in financial accounts and tax consultancies is also a sign of companies preparing for the year ending. With new channels being launched across domains, content and media professionals are also seeing good opportunities for growth,” adds Roy.
Key takeaways
- Finance & Accounting sector reported 19% rise in talent demand
- Content, editors and journalists posted 13% rise in demand
- Among metros, Bengaluru leads demand with 14% rise in demand
- Demand up by 3% for professionals with 10-20 years of experience
Finance, Tax and Accounting top hiring sectors
Financial Accounting was the top hiring sector of the month, followed by logistics & warehousing. The financial accounting and tax consulting industry posted 19% rise in talent demand in October 2016. The logistics and warehousing sector saw a 3% rise in talent demand during the month. BPO, ITeS and the EXIM sectors reported a 1% rise in talent demand during the month.
Content and Media professionals in demand
Content professionals, editors and journalists saw a 13% rise in demand in October 2016. As a result of increased hiring activity in the accounting industry, demand for accounting and finance professionals grew by 8% in the month. Logistics and supply chain managing professionals posted 6% rise in talent demand and engineers saw a 2% rise in demand during the month.
Bengaluru is the best performing metro
Among metros, talent demand was highest in Bengaluru. The city posted a rise of 14% in talent demand during October 2016. Pune followed with a 5% rise in talent demand. Among states, Kerala saw maximum rise (5%) in talent demand during the month.
Demand rises for experienced professionals
The demand for professionals with 10-20 years of experience reported an average rise of 3% during October 2016. None of the other experienced categories posted rise in demand during the month. Professional with over 20 years of experience saw 8% drop in demand and mid-level professionals with 5-10 years of experience saw 4% drop in demand. Entry level professionals registered 2% drop in demand during the month.
Download the complete RecruiteX report here – http://bit.ly/2euFZwT
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In the recruitment market as well, being the biggest platform for competent professionals who think of their careers first, TimesJobs has become the destination of choice for recruiters who seek to engage with the right talent.