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Finance, HR, admin roles more sought after in June: Monster Employment Index

Finance, HR, admin roles more sought after in June: Monster Employment Index

Hiring for finance and accounts professionals is up around 34 per cent YoY due to the continuous hiring in the banking, financial services and insurance (BFSI) segment, as per a recent Monster Employment Index.  

IT sector (hardware and software) saw a 2 per cent decline in hiring activity on account of start-up layoffs. IT sector (hardware and software) saw a 2 per cent decline in hiring activity on account of start-up layoffs.

Recruiters are increasingly on the lookout for professionals across domains like finance and accounts, human resources (HR) and administration (admin) in June this year. Hiring for finance and accounts professionals is up around 34 per cent year-on-year (YoY) due to the continuous hiring in the banking, financial services and insurance (BFSI) segment, as per a recent Monster Employment Index.  

Hirings for the role of HR and admin went up by 19 per cent on-year in the same period as more and more companies realign hybrid work models and work to provide improved employee experiences and upskilling ventures for their workforce to fight attrition. Besides, sectors like hospitality and travel (18 per cent), software, hardware, telecom (6 per cent), customer service (3 per cent) and marketing and communications (2 per cent).  

Sectors that saw a decline in hiring due to their performance were engineering/production (-12 per cent), purchase/logistics/supply chain (-10 per cent) and healthcare (-8 per cent).  

Graphic: Pragati Srivastava
Graphic: Pragati Srivastava

On the sectoral front, banking, financial services and insurance (BFSI), travel and tourism and chemical were the sectors that ramped up hirings in June compared to the year-ago period. Job postings in the BFSI sector saw 28 per cent YoY growth on growing digital consumerism and need for digital transformation.  

Following closely, job postings in the travel and tourism industry went up around 25 per cent on-year due to restriction free travel across the country. Chemical industry comprising sectors like chemicals, plastics, rubber, paints, fertiliser/pesticides saw an on-year rise of up to 24 per cent on account of increasing innovations in technology and use of chemicals in industrial operations and manufacturing.  

This, in turn, has led to a rise in demand for wider range of skills and experience. Other sectors that saw a rise in job postings during June are real estate (17 per cent), production and manufacturing (16 per cent), import/export (14 per cent), BPO/ITES (12 per cent), telecom/ISP (12 per cent) and retail (1 per cent).  

Graphic: Pragati Srivastava

IT sector (hardware and software) saw a 2 per cent decline in hiring activity on account of start-up layoffs. Monster.com CEO Sekhar Garisa said, “While concerns over startup layoffs continue to linger, it is important to note that they represent a very small portion of the overall job pie and several industries today have outperformed their targets to contribute to the larger growth story of our nation.”  

Other sectors like media and entertainment and engineering, cement, construction, iron/steel have also witnessed a downfall in hiring activity. Segments that have not yet recovered to pre-pandemic levels include shipping/marine (-10 per cent), healthcare, biotechnology and life sciences (-4 per cent), pharmaceuticals (-4 per cent) and education (-4 per cent).  

Graphic: Pragati Srivastava

Talking about hiring for white-collar jobs, 10 out of 13 cities showed positive demand with Mumbai logging the maximum growth at 23 per cent. Metro cities that followed Mumbai were Hyderabad (15 per cent), Delhi-NCR (13 per cent), Ahmedabad (11 per cent), Pune (9 per cent), Chennai (8 per cent) and Bangalore (4 per cent). Coimbatore led the pack among non-metro cities with a 19 per cent jump in hiring.  

Graphic: Pragati Srivastava

Cities that saw a dip in hiring activity included Kolkata (-2 per cent), Chandigarh (-5 per cent) and Jaipur (-3 per cent). The index stated, “While most Tier-2 cities have inched closer to pre-pandemic level hiring, the demand has hummed down reflecting current economic conditions and resultant cautious recruiter attitudes.”