Hiring up by 4% in May 2017, BPO and BFSI top hiring sectors: TimesJobs RecruiteX Index

According to a media release, the overall talent demand grew by 4% in May 2017 with BPO/ITeS and BFSI sectors posting a rise of 24% and 14% in talent demand, respectively. Automobiles and consulting services sectors also posted considerable rise in talent demand during the month. Senior professionals also posted a 5% rise in demand, reports the latest RecruiteX, the recruitment index by TimesJobs.

"While there is no doubt that automation has led to job cuts in certain areas of the IT/ITeS sectors, we must not lose sight of the fact that new jobs are also being created by the economic growth that is fueled by this technology revolution. Nasscom has confirmed that there was a net creation of 1,70,000 jobs in the IT sector in FY 2017. In addition, Fintech is transforming the BFSI sector leading to its rapid development and growth. Further, the Ministry of Electronics & IT has launched the India BPO promotion scheme to provide 1,45,000 jobs in the BPO/ITeS sector as well." said Ramathreya Krishnamurthy, Business Head, TimesJobs.

Key takeaways

Overall, hiring was quick paced during May 2017. Key employment sectors and functional areas contributed to the rise in recruitment activities.

• BPO/ITeS sector posted a 24% rise in talent demand

• Customer service and tele-calling professionals also reported over 20% rise in demand

• Tier II locations witnessed the maximum hiring; Jaipur saw the most growth, with over 20% rise in demand

• Senior professionals posted a 5% rise in demand, while freshers & professionals with less than 2 years of experience saw a 4% rise in demand.

Trends by Industry

TimesJobs RecruiteX reports a rise across most key industry segments. BPO/ITeS and BFSI were the best performing sectors during May 2017.

• BPO/ITeS registered highest rise of 24% in hiring during May 2017.
• BFSI sector posted a 14% rise in demand.
• Consulting services sector reported a rise of 13% in talent demand.
• Automobiles sectors saw a 12% rise in demand.
• The Real estate sector posted a 9% rise in demand.
• Consumer durables/FMCG industry saw a 7% rise in talent demand. Healthcare and Pharmaceuticals posted a 5% rise in demand.

Trends by Function

During May 2017, talent demand grew across key functional areas. Reflecting the demand in the BPO sector -  customer service and tele-calling professionals were the most in-demand profiles during the month.

• Customer service professionals reported over 20% rise in demand.

• Doctors, nurse and medical professionals witnessed a 19% rise in demand.

• Quality control profiles witnessed a 5% rise

• Content, editors and journalists posted a 4% rise in demand.

Trends by Location

Talent demand grew significantly in tier II locations and there was positive hiring momentum in most major locations during May 2017. Jaipur was the best performing location during the month.

• Jaipur posting over 20% rise in talent demand, in May 2017.

• Among Metros, Delhi NCR reported a 10% rise in hiring activity, followed by Bengaluru with a 7% rise, during the month.

• Rajasthan (except Jaipur) was the best performing state and reported over 20% rise in demand during May 2017.

• Gujarat (except Ahmedabad and Vadodara) saw a 14% rise.

• West Bengal also saw a 7% rise in demand.

Trends by Experience

Talent demand was upbeat across all experience categories, with candidates having 10-20 years of experience posting the maximum rise in demand of 5% in May 2017. The category has reported an average 8% rise in demand since March 2017. Freshers & professionals with less than 2 years of experience saw a 4% rise in demand during May 2017.

• Candidates with 10-20 years of experience reported highest rise (5%) in demand during May 2017.

• Professionals with less than 2 years of experience posted a 4% rise in talent demand, followed by candidates with 5-10 years of experience with 3% rise.

• Candidates with 2-5 years of experience witnessed stable demand, while candidates with over 20 years of experience reported 11% drop.