foundit, one of India’s leading talent platforms, has published the foundit Insights Tracker (fit) for December 2022. The job trajectory for the month has summarised the hiring sentiment for the year 2022 by exhibiting a steady increase (2 percent) in e-recruitment month-on-month (MoM). This re-affirms a positive hiring outlook in the upcoming year. However, a marginal dip (-1 percent) was observed year-on-year (YoY).
Commenting on job trends for December 2022, Sekhar Garisa, CEO – foundit (previously Monster APAC & ME), a Quess company, said, “It has been a roller coaster year for the Indian economy amidst increasing global headwinds. The government’s efforts to arrest inflation held the economy in good stead amidst geopolitical tensions, rising inflation and disturbances in the global supply chain. This month’s data emphasises that while companies are becoming slightly cautious with economic uncertainty, we expect hiring in sectors such as telecom and banking and finance to do well. We are also optimistic that the Union Budget 2023 will enable substantial job creation in most sectors.”
The advertising, Market Research (MR), and Public Relations (PR) industries registered significant growth (+9 percent) YoY as well as (+13 percent) MoM driven with the increase in marketing efforts and adoption of Artificial intelligence (AI). Businesses are increasingly leveraging data to make marketing decisions and invest in newer digital formats to meet their branding and sales goals. The key skills in demand for the industry include social media engagement, JavaScript, Search Engine Optimization (SEO), Google analytics, and MYSQL, with demand for social media managers holding the highest share (17 percent) among all job roles in the sector.
Hiring dries up in the metropolitan cities of India
Hiring seems to have come to a standstill in the metropolitan cities of India, with cities such as Kolkata (-19 percent YoY), Bangalore (-12 percent), Hyderabad (-6 percent), Chennai (-5 percent) and Delhi (-5 percent) showcasing steep decline in hiring activity. However, Mumbai demonstrated a positive trend with a steady growth of 7 percent.
Cities such as Coimbatore, Chandigarh and Ahmedabad have invested significantly in their infrastructural development, education and health, leading to a much higher standard of living at a lower cost and a tremendous influx of talent. This has led global corporations to establish their set up in the smaller hubs of India, which holds tremendous promise for growth with favourable government initiatives and skilled talent. Ahmedabad (+14 percent) is the only city to register double-digit annual growth, with the elevated demand in the pockets of advertising, market research, PR and media and entertainment industries