Mumbai : foundit (formerly Monster APAC & ME), one of India’s leading talent platforms, today released its monthly foundit Insights Tracker (fIT) report. According to the report, white-collar hiring in India exhibited positive numbers with a 2% rise in job posting activity in March 2023. The Tracker reflected growing demand for talent across key sectors such as Retail, Telecom and Travel & Tourism on an annual basis (March 2023 vs March 2022).
However, on a month-on-month basis, job posting activity declined by 1% as several sectors slowed down their hiring processes. With rising uncertainties on the back of international developments such as shifts in the US economic policies including H1-B visas and volatile oil prices, job creation rates have stabilized on the whole. Hiring demand in Media & Entertainment and Import/Export saw a dip between 12-13%, while segments like IT, Telecom, and Manufacturing saw a decline between 3-4% (March 2023 vs February 2023).
Interestingly, the Tracker reflected rising demand for the gig workers in the white-collar space with an impressive surge of 11% year-on-year. Regarding skilling and training of the youth, interns in Sales & Business Development as well as Marketing roles were the most sought after by companies.
Commenting on job trends for March 2023, Sekhar Garisa, CEO – foundit (previously Monster APAC & ME), a Quess company said, “It is interesting to see the continued growth of the gig economy in the Indian white-collar space, as companies look at easier onboarding processes and higher cost savings. We have certainly seen newer trends emerge over the last few years with constantly evolving workplace preferences and a greater focus on employee well-being. Tech disruptions such as the most recent ChatGPT are revolutionising and paving new paths for every industry. It is important to note that such technologies hold the potential to create employment opportunities, re-iterating the crucial need for upskilling- not only for entry-level professionals but the entirety of the Indian workforce.”
The gig workers were high in demand marking a 11% annual growth in job postings for the same (March 2023 vs March 2022). As the future of work changes simultaneously with emerging tech, gig workers are taking the center stage when it comes to organizational demand. While employers are following a cautious and strategic approach amidst current socio-economic uncertainties, several high-priority roles are fulfilled through gig workers. Moreover, huge participation, almost 24% of freelancers from India are reported in global roles.
Industries such as IT (22% share), Recruitment & Staffing (18% share) and Education & Edtech (13% share) account for the largest share of demand for gig jobs. Top gig roles that have seen considerable engagement as per the Tracker include Recruiter (15% share), Coder/IT Consultant (12% share), Content Creator (9% share), Data Analyst (7% share), and UX Designer (3% share).
Salary trends for gig jobs as per foundit
|Salary level||Share of total gig jobs|
Retail, Travel & Tourism among the top recruiting industries while IT and BPO sectors remain cautious of talent-hoarding behaviours
Retail marked a splendid 40% year-on-year growth in e-recruitment activity, with India becoming home to large e-retail shoppers as well as increased internet penetration helping the industry grow via social media platforms and ads targeted at the digital generation. Moreover, tech innovation with contactless shopping, supply chain disruption, improving consumer purchasing power, and immersion in fashion and personal care retail are a few of the many facets that have shaped the growth of the industry in the past year.
The Telecom sector (+17%), climbed up the ladder and was among the top three most actively hiring sectors. Growth momentum strengthened for Travel and Tourism (+13%) industry, while NGO/Social Services (+15%), Garments/Textiles (+12%), Logistics (+12%), FMCG (+10%), and Oil/Gas (+9%) also saw a considerable increase in online hiring activity on an annual basis.
On the downside, job postings in IT (-20%) continue to decline as a course correction from post-pandemic-induced excess hiring from last year. Other sectors such as BPO/ITES (-12%), Healthcare (-10%), Education (-9%), and BFSI (-3) reflected muffled hiring patterns this March, as compared to the previous year.
Ahmedabad records maximum demand for white-collar professionals
City trends indicate that Ahmedabad witnessed the highest surge in online hiring activity with a 12% annual rise, followed by Mumbai (+3%), Chandigarh (+2%), and Jaipur (+1%). Industries such as BFSI, BPO, Manufacturing, and Engineering actively hired from metros such as Mumbai, Pune, and Chennai.
However, the Tracker reveals that cities such as Kolkata (-24%), Bangalore (-15%), Coimbatore (-9%), and Hyderabad (-7%) continued to reflect a decline in job posting activity.
Finance & HR roles reflect positive hiring trends
Demand for Finance & Accounts professionals noted a 20% year-on-year spike. Tech advances such as AI and blockchain, have created a niche demand for talent with specialised skills that go beyond basic bookkeeping, including strategy and analysis. HR & Admin (+11%) also continued to note an incline as employee wellness, use of automation in processes and heightened emphasis on diversity and inclusion have created a need for seasoned professionals who can bring collaboration and cohesiveness to ensure seamless organisational functioning. Demand for Sales & BD (+7%), Legal (+4%), and Arts/Creative (+3%) roles also saw a marginal increase.
However, job postings for professionals in Customer Service (-15%), Software Hardware Telecom (-9%), Healthcare (-8%), and Marcom (-8%) have seen a continuous dip over the last few months.
Fresher hiring sees positive growth; Sales, BD, & Marketing internships on the rise
Data from the Tracker indicates that demand for entry-level (0-3 years) professionals exhibited a 4% annual growth as more and more companies today are offering paid internships to fresh talent to meet specific organisational requirements.
As per Zuno by foundit, a platform for quality paid internships, nearly half (48%) of internship opportunities on the platform are for roles related to Sales & Business Development. Internships in Marketing (23% share), Technology (5% share), Management (5% share), Social Sector (5% share), HR (5%), Design (3% share), and Finance (3%) reflected average stipends ranging from INR 6,000 – INR 13,000.
Internship trends as per Zuno by foundit
|Roles||% Share of Total Internships||Average Stipend (INR)|
|Sales & BD||48%||11133|