January 9, 2018, New Delhi: With the New Year cheer and celebrations all around, India’s job market too is hopeful for an upswing in 2018 as the quarter ending December 2017 recorded an average 1% rise in talent demand. Compared to last year (between Oct-Dec 2016 the hiring outlook saw negative momentum) this is a certain hint that the overall market is headed for better times, and hiring activities will pick up pace gradually in the new year.
RecruiteX – a hiring trend report by recruitment portal TimesJobs – noted that although overall job market saw a drop of 3% in December 2017, the Oct-Dec 2017 period posted a 1% rise in talent demand. Among key functional areas, a rise of nearly 6% was seen in demand for medical professionals, during December 2017.
Industry-wise analysis: Accounting and tax sector registered 19% rise
The accounting and tax sector in India registered 19% rise in hiring in December 2017, followed by 12% rise in talent demand from legal and law sector. Recruitment sector saw a 4% rise in talent demand.
“Hiring was a little low in December 2017 as most HR and recruitment managers were busy drafting fresh strategies for 2018. Overall, the last three months (Oct-Dec 2017) saw positive hiring momentum, across most key industries and functional areas. We can expect an aggressive talent demand in 2018 when organisations start working on fresh strategies, which involves new projects, reconsolidation, etc. Our economy is growing at a reasonable pace and news reports suggest that in the coming years around 600 million people will be deployed in new job roles that do not exist today. Exponential technologies in advanced markets are expected to improve productivity in the next five years”, said Ramathreya Krishnamurthi, Business Head, TimesJobs & TechGig.
Functional area analysis: Doctors and medical professionals in demand
Doctors and medical professionals saw highest rise of 6% demand in December 2017, followed by human resource professionals which witnessed a 5% rise in talent demand. Business management, consultants, freelancers witnessed 5% rise in demand on month-on-month analysis.
Location-wise analysis: Lucknow records the highest demand
Among key locations, Lucknow recorded the highest rise in talent demand of 13% as per the latest RecruiteX report. Chandigarh and Ahmedabad saw a hike of 11% and 5% respectively in the talent demand.
Among states, RecruiteX recorded a growth of 17% in Uttar Pradesh, followed by Gujarat being 15%.
Experience-wise analysis: Professionals with over 20 years of experience in demand
Hiring for professionals with over 20 years of experience witnessed the highest rise in demand during December 2017. Candidates with over 20 years of experience reported 8% rise in demand. Professionals with 2-5 years and 5-10 years of experience posted 4% drop in demand.
Key highlights of the report are:
- Top hiring sectors
- Accounting & tax
- Legal & law
- Recruitment
• Top hiring locations
- Lucknow
- Chandigarh
- Ahmedabad
• Top hiring profiles
- Doctors, nurses & medical professional
- Human resources
- Business management, consultants, freelancers
Complete report is available here – http://content.timesjobs.com/year-end-on-a-positive-note-india-inc-optimistic-about-hiring-in-2018-timesjobs-recruitex/articleshow/62428526.cms