New Delhi: November 23, 2020: Festive cheer and Unlock 5.0 kept the talent demand up in Oct 2020, with a significant contribution from high-volume conventional sectors as Construction, Manufacturing and Projects/Infrastructure. Oct 2020 registered 2% M-o-M and 16% Y-o-Y increment in talent demand, stated TimesJobs RecruiteX.
TimesJobs RecruiteX is a monthly recruitment index that records the demand and supply of talent at India Inc.
Outlining the talent demand trends for Oct 2020, Sanjay Goyal, Business Head TimesJobs and TechGig said, “There’s a substantial uptick in the talent demand posted by high-volume sectors like Construction, Manufacturing, Automobiles and Infrastructure. Other than Healthcare, these were the top five sectors to post maximum M-o-M growth in talent demand in Oct 2020. Talent demand in these sectors was hit because of the COVID-19 lockdown but this growth in talent demand indicates that these sectors are preparing for a revival. The announcement of stimulus package 3.0 will further boost home buying and spur further growth in Construction sector. I foresee a similar trend in the talent demand for the Construction sector in the coming months too, if the COVID wave 2&3 does not trigger another lockdown”.
Here are the other insights from the TimesJobs RecruiteX Oct 2020 edition –
The monthly talent demand in Oct 2020 was fuelled by the Healthcare sector, which has been posting steady demand this year. A definite silver lining was that Construction, Manufacturing and Infrastructure/Projects sectors improved their talent demand and were among the top five sectors to post maximum talent demand in the study month.
Top three industries posting maximum talent demand (M-o-M analysis) were:
1. Healthcare/ Biotechnology/ Pharmaceutical: 12%
2. Construction/Cement/Metal/Steel/Iron: 8%
3. Manufacturing & Engineering: 7%
The Doctors/Nurses/Medical Professionals profile registered the highest growth in Oct 2020 talent demand, and continued to be a talent grosser similar to the earlier months this year. Profiles related to Hospitality have been in steady demand since Aug 2020 when the sector was re-opened for business in Unlock 5.0.
Top three functional areas posting maximum talent demand (M-o-M analysis) were
1. Doctors/Nurses/Medical Professional: 14%
2. Hospitality: 14%
3. HR/PM/IR/Training/ T&D: 11%
In a repeat of May 2020, Lucknow emerged as the top talent hub in Oct 2020 with double digit growth in talent demand. Otherwise Lucknow was posting steady but single digit growth in demand. Chennai toppled Mumbai in Oct 2020, to be the top metro city to post highest talent demand.
Top three locations posting maximum talent demand (M-o-M analysis):
1. Lucknow: 26%
2. Chennai: 15%
3. Mumbai: 11%
The demand for senior professional with more than 20 years of work experience improved drastically in Oct 2020, and jumped from (-20%) in Sept 2020 to (10%) in Oct 2020. This was followed by demand for people with 5-10 years of work experience.
Top three work experience categories posting maximum talent demand (M-o-M analysis):
1. More than 20 years of work experience: 10%
2. 5-10 years of work experience: 5%
3. 10-20 years of work experience: 2%
RecruiteX is the recruitment index for India. It is an analysis identifying the hiring activity and trends in India Inc. Based on tactful extraction and examination of jobs posted and applied for in a month at TimesJobs, it details ‘recruitment’ as a process backed by hiring sentiments of a recruiter and aspirations of the job seekers alike.