Recruiters looking for professionals to combat attrition

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Recruiters looking for professionals to combat attrition

In June of this year, Recruiters are looking for professionals in different fields like finance and accounts, human resources HR and administration admin. As per a recent Monster Employment Index, the hiring of finance and accounts professionals has gone up around 34 per cent year-on-year YoY due to the constant hiring in the banking, financial services and insurance BFSI segment.

In the same period, the number of HR and admin positions went up by 19 per cent as more and more companies realign hybrid work models and work to provide better employee experiences and upskilling ventures for their workforce to fight attrition. Among the sectors that saw a decline in hiring were engineering production - 12 per cent purchase logistics supply chain, 10 per cent and healthcare -- 8 per cent and banking, financial services and insurance BFSI travel and tourism and chemical, which was the sector that saw an increase in hiring in June compared to the year-ago period. There was 28 per cent growth in the BFSI sector as a result of growing digital consumerism and need for digital transformation.

There was an increase in job postings in the travel and tourism industry by around 25 per cent on-year because of restrictions on travel across the country. In a single year, chemicals, plastics, rubber, paints, fertiliser pesticides saw a rise of up to 24 per cent, due to increasing innovations in technology and the use of chemicals in industrial operations and manufacturing.

This has resulted in a rise in demand for a 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 of the import export 14 per cent BPO ITES 12 per cent telecom ISP 12 per cent and retail 1 per cent IT sector hardware and software, with a 2 per cent decline in hiring activity due to start-up layoffs. While concerns over startup layoffs continue to linger, it is important to note that several industries today have outperformed their targets to contribute to the larger growth story of our nation. There has also been a downfall in hiring activity in other sectors like media and entertainment and engineering, cement, construction, iron steel. Among the segments that have not recovered to pre-pandemic levels are shipping marine 10 per cent healthcare, biotechnology and life sciences -- 4 per cent pharmaceuticals -- 4 per cent and education -- 4 per cent and 10 out of 13 cities showing positive demand, with Mumbai logging the maximum growth at 23 per cent. The metro cities that followed Mumbai were 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.

Kolkata -- 2 per cent Chandigarh -- 5 per cent and Jaipur -- 3 per cent were cities that saw a dip in hiring activity, while most Tier 2 cities have inched closer to the pre-pandemic level of hiring, but the demand has hummed down due to current economic conditions and cautious recruiter attitudes.