Hiring demand for the month of October 2021, witnessed a dip of three per cent, as in comparison with September 2021. However, job demand grew 9 per cent sequentially in the previous six months exhibiting an optimistic outlook to restoration, stated the Monster Employment Index. There has additionally been a robust year-on-year restoration with a 9 per cent uptick in October 2021 (Oct 2021 vs Oct 2020).
October 2021 noticed industries equivalent to Office Equipment/Automation (up 30 per cent) present exceptional enchancment on account of back-to-office developments. Travel and Tourism (7 per cent) additionally witnessed appreciable month-to-month development with a significant uptick in cities equivalent to Chandigarh, Jaipur, and Kochi.
Hiring of execs in hospitality and journey roles noticed the very best month-on-month development, indicating an general promising restoration for the Travel sector in the months to come back (Oct 2021 vs Sept 2021). There has additionally been an enchancment in industries equivalent to Education and Retail, as in comparison with the earlier months.
As in comparison with October 2020, the Banking, Financial Services, Insurance (46 per cent) and IT-hardware, software program (37 per cent) industries led in e-recruitment exercise, marking the very best development in metro cities which proceed to dominate year-on-year hiring developments. The demand for entry-level professionals notably witnessed a yearly incline of three per cent (Oct 2021 vs Oct 2020).
Sekhar Garisa, CEO, Monster.com, a Quess firm, stated, “In the month of October, we saw a decline in hiring activities by 3 per cent. This is a yearly trend we observe following festive hiring hikes. It is encouraging to see the travel and tourism industry dust off from the pandemic impact and truly pave its way to revival. We also see promising back-to-office trends with increasing automation and a huge spike in demand for office supplies. Moreover, the recruitment space is looking up for entry-level talent as more and more organisations are looking to hire freshers. At Monster.com, we have seen a huge improvement in the intent to hire by top companies via our virtual career fair for freshers–Aspire.”
Year-on-year, BFSI (46 per cent) led e-recruitment exercise, adopted by Telecom/ISP (38 per cent) and IT-Hardware, Software (37 per cent), Printing/Packaging (31 per cent), and Office Equipment/Automation (27 per cent) in October 2021 (Oct 2021 vs Oct 2020).
On the opposite hand, Government/PSU/Defence (-13 per cent) business posted the steepest annual dip in on-line job postings. Industries equivalent to Engineering, Cement, Construction, Iron/ Steel (-11 per cent), Education (-10 per cent) and Travel and Tourism (-8 per cent), Retail (-3 per cent), and Media & Entertainment (-3 per cent) industries nonetheless stay impacted and recorded steady annual decline.
In the month of October 2021, metropolis developments point out that Tier-2 cities equivalent to Coimbatore (3 per cent) and Jaipur (1 per cent) witnessed highest month-to-month development in job postings. Hyderabad, Kochi, Mumbai, and Delhi-NCR, which beforehand witnessed a dip in hiring exercise, have stabilized in the month. However, regardless of festive hiring demand, cities equivalent to Kolkata (-5 per cent), Bengaluru (-2 per cent), Pune (-2 per cent), Chandigarh (-1 per cent), Ahmedabad (-1 per cent), and Chennai (-1 per cent) witnessed a month-to-month decline in job posting exercise (Oct 2021 vs Sept 2021).