India Inc is watchful in their recruitment needs and is going through this uncertain phase with poise, the inaugural edition of the TimesJobs RecruiteX Quarterly Report released today gives in-depth insights and expert opinions on the trends.
Indian employers are treading on a cautious yet optimistic trail and maintaining staff levels across major industries. Employers have definitely become selective and are conscious about the need for ‘right’ hiring at this juncture. The good news is that this period of uncertainty is better than 2008, since there are no large layoffs or hefty cost cuts and people are not losing jobs.
The inaugural issue of the TimesJobs RecruiteX Quarterly Report throws light on this trend providing expert opinions and data-backed insights into the demand for skills & talent and the supply of human resources & capital.
This report is segregated into three sections: top ten industries, locations and experience ranges. For the industrial section, the report provides the views of market experts alongside the research analysis thereby providing a balanced and comprehensive view of the recruitment market. Similarly, for locations and experience levels, the findings are confirmed with the interviews of senior executives from major HR consultancies & companies.
The TimesJobs’ RecruiteX reports that all major industries clocked stable hiring patterns during the October-December 2011 quarter. According to the quarterly analysis of the RecruiteX, only three industries, BPO/ITeS, Consumer Durable/FMCG and Retail, out of the top ten industries, reported double-digit growth over the base level recorded in December 2010. Demand in support functions such as HR and Accounting & Finance has overshadowed core functions across top ten industries.
This in-depth journal of statistics, information and analyses on employers (demand) and jobseekers (supply) and will serve as a reliable reference guide to present and future developments in recruitment.
As per TimesJobs’ RecruiteX both Delhi NCR & Mumbai have performed poorly on the demand index. Market experts opine that the hiring activity was negative in metros due to the poor macro-environment and negligible business investments.
Among the other geographies that the TimesJobs RecruiteX covers, Pune witnessed decent growth in demand during the October-December 2011 quarter. Bangalore reported an increase in hiring activity and was the top performer during the same period.
Hiring activity for fresher/junior level and executive level positions witnessed a substantial fillip while recruitments in the middle-management level were sluggish. In comparison, recruitment for top management positions was healthier.
Demand for candidates with less than 2 years of experience was robust across industries and locations. The Demand Index for this segment registered an 18-point growth in December 2011 compared to July 2011.
This TimesJobs RecruiteX Report reinforces the portal’s efforts in becoming a strong medium to pull Indian employment market closer to the line of reality and presents a balanced outlook on the positions & perspectives of employers and job-seekers in Indian employment scenario.
Other Key Findings:
- Hiring expected to start picking up during the transition period of January to March 2012
- Consumer Durables/ FMCG, Automobile, Energy and Infrastructure sector could be major employment drivers in the coming months
- Demand in support functions such as HR and Accounting & Finance has overshadowed core functions across top ten industries
- Engineering is the only major profession to maintain consistent growth pattern during the quarter in allied industries, locations and experience levels
- Amongst top locations, only Bangalore and West Bengal have been able to maintain healthy supply of talent
- Demand for senior experienced professionals will grow in Education, Healthcare/ Pharmaceutical domain
RecruiteX Methodology
To minimise the scope of inaccuracy, the TimesJobs RecruiteX analysis is based on demand and supply data integrated with numbers collected by our offline teams and then segregated according to top industry verticals, experience ranges and locations. Demand for talent is computed by factoring activities of recruiters on TimesJobs.com. Supply of talent is calculated by the activities of the jobseekers on the portal. The base value of RecruiteX has been kept as 100 for the month of December 2010. All RecruiteX values for subsequent months represent the trend of RecruiteX viz-a-viz December 2010.
For more information please visit our website www.research.timesjobs.com
For feedback and suggestions please mail us at girish.bindal@timesgroup.com
To book your copy of the Report please contact aseem.seth@timesgroup.com