TeamLease EdTech, one of India’s leading learning solutions providers, has recently launched its bi-annual “Career Outlook Report”, for the period July to December 2022.
A comprehensive analysis of the fresher hiring sentiment in India, the report highlights India as a sunrise location for entry-level jobs globally. As per the report findings, 59% of employers in India are keen to hire freshers between July to December 2022 – a 12% increase vs. H1 2022 and a 42% increase vs. H2 2021.
From an industry perspective, according to the report, Information and Technology, Ecommerce & Technology startups, and Telecommunications are the most promising sectors for freshers with 65%, 48%, and 47% of employers showing the intent to hire, respectively. Powered by increased spending in the sector (US$ 101.8 billion this year), increased exports (8% to 10% increase in FY22-23), growth of the software product industry, and the government allocating a US$ 11.58 billion budget; the IT sector is rapidly growing and is expected to hire 100,000 freshers to meet rising demand. On the other hand, telecom companies are looking forward to infuse INR 3345 crores in the sector and expand their data centres pan India. There is a huge demand for job roles across 5G-centric technologies such as Internet of Things (IoT), Artificial Intelligence (AI), robotics, and cloud computing in the telecom sector; with a majority of companies hiring freshers. On the other hand, some industries where hiring sentiment was muted are Travel & Hospitality (7%), Agriculture and Agrochemicals (9%), Real Estate: Non-Essential (9%), and Marketing & Advertising (9%).
The report also analyses the top locations for freshers. Bengaluru emerges as the leading city for freshers with 68% of employers projecting the intent to hire, followed by Mumbai (50%) and Delhi (45%). In H1 2022, the hiring sentiment of employers in Bengaluru, Mumbai, and Delhi stood at 59%, 43%, and 39%, respectively. In H2 2021 (same period last year), the hiring sentiment for employers in Bengaluru, Mumbai, and Delhi stood at 43%, 31%, and 27%, respectively. The locations which have shown slow hiring sentiment are Kochi (2%), Indore (2%), Coimbatore (3%), and Chandigarh (5%).
Sharing his views on the report, Shantanu Rooj, Founder & CEO, TeamLease EdTech, said,
“The sentiment around entry-level jobs and freshers hiring is significantly improving in India. More employers willing to increase their freshers resource pool is, in fact, an evidence of this trend and indicates that the employability of the country’s youth has undergone a value-driven change over the last few years. A lot of this is attributed to the alliance between employers, academia, and industry; which has played an instrumental role in creating the right kind of programs (like apprenticeship embedded degrees) to educate and up-skill candidates. Within a year, freshers hiring sentiment has seen a 42% increase and we are optimistic that this will go up rapidly in the coming years as well.”
A deep dive into job roles, the report highlights Affiliate Marketing Specialist, Data Scientist, Molecular Biologist, Wellness Specialist, and User Experience Researcher as the top in-demand job roles for freshers. On the other hand, elaborating upon the requirements of the employer, the report also indicates the top skill sets that employers expect in candidates.
“While employers are keen to hire freshers, they have also become very particular that candidates should have the right mix of domain and soft skills. Today, industry knowledge takes precedence and therefore academic institutions are also creating skill-focused blended learning programs which are fortifying the employability of students and making them job-ready for future roles”, added Neeti Sharma, Co-Founder and President, TeamLease EdTech.
The Career Outlook Report is a detailed analysis of freshers hiring sentiment of 865 companies, across 18 industries and 14 locations; for the period July to December 2022. The report is also intended to guide and provide information to freshers on what to expect in the job market during the July-December 2022 period. It highlights the job roles in demand and the essential skills (core and associated) required for these roles. The report also highlights leading skill-enhancing courses that can act as an employability booster for securing these roles. The report is intended to be a source of market information that helps freshers acquaint themselves with current market trends.