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Hiring intent improves for Apr-Sept; pharma, e-commerce, education services lead the way

Coronavirus impact: Healthcare and pharmaceuticals, education services, e-commerce and tech startups, agriculture and agro-chemicals as well as IT along with FMCG players are some of the top sectors that are bullish on hiring

twitter-logoBusinessToday.In | July 22, 2020 | Updated 10:05 IST
Hiring intent improves for Apr-Sept; pharma, e-commerce, education services lead the way

There has been an uptick in the number of firms that intend to hire after the lockdown. Hiring intent has increased for the first half of this fiscal, said a report by staffing firm TeamLease. The numbers are still very low as compared to the pre-coronavirus time but there is an improvement from the lockdown period. Pharma, healthcare, e-commerce and education services are the sectors that remain bullish on hiring.

According to TeamLease that surveyed 800 firms across 21 sectors, hiring intent -- or percentage of employers likely to recruit -- has increased to 18 per cent for the April-September 2020 period. Hiring intent had dropped to 11 per cent during the lockdown from March 25 to June 7. To put it in perspective, in the pre-COVID times, hiring intent was around 96 per cent in October 2019-March 2020 period.

Healthcare and pharmaceuticals, education services, e-commerce and tech startups, agriculture and agro-chemicals as well as IT along with FMCG players are some of the top sectors that are bullish on hiring. Hiring in these sectors is also likely to take place across ranks, including from top senior executives to entry-level. Demand is also high for jobs such as delivery executives.

Many companies have also announced their current hiring plans. For instance, IT major TCS is planning to hire as many as 40,000 freshers, while HCL is also planning to hire around 15,000 workers through campus placements.

When it comes to cities, Bengaluru is at the top of the list with 21 per cent hiring intent, followed by Delhi with 19 per cent, Hyderabad with 15 per cent, Chandigarh with 14 per cent and Mumbai with 12 per cent. Hiring intent in these cities had dropped to 13 per cent, 12 per cent, 9 per cent, 9 per cent and 8 per cent, respectively,  during the lockdown period.

TeamLease data also shows that India is currently faring rather well as compared to major geographies such as Americas where hiring intent is 8 per cent, Europe (9 per cent) and the Middle East (11 per cent).

TeamLease co-founder and EVP Rituparna Chakraborty told Times of India that they expect hiring to improve further in the latter half of the year. While there are green shoots at this point, sectors that are doing well are also being cautious in hiring.

Also read: Banks sanction Rs 1.27 lakh crore to MSMEs under credit guarantee scheme; SBI top lender

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