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BFSI, IT/Telecom and retail posted maximum talent demand in Dec 2020: RecruiteX

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The Economic Times
12th January, 2021 15:18 IST

India Inc witnessed an improved hiring sentiment in December 2020, as the high-volume sectors - BFSI, IT/Telecom and Retail – posted maximum growth in talent demand in the period. The BFSI sector posted the highest growth of 5% in talent demand in Dec 20, followed by IT/Telecom, revealed the TimesJobs RecruiteX Dec 20 edition.

TimesJobs RecruiteX is a monthly recruitment index that records the demand and supply of talent at India Inc.

“The talent demand report card for Dec 2020 was full of surprises. Both – the BFSI sector, and the Banks/Insurance job profile - saw an impressive growth; leaping from negative talent demand in Nov 20 to 5% and 9% M-o-M growth in Dec 20, respectively. The IT sector recorded 4% growth in Dec 20, akin to its Nov 20 growth trend. The high volume sectors resumed talent intake, improving the overall hiring sentiment at India Inc,” said Sanjay Goyal, Business Head, TimesJobs and TechGig.

Industrial sector-wise top gainers in talent demand:
The BFSI sector recorded the highest growth of 5% in talent demand in Dec 20. It recovered from (-5%) in Nov 20 to 5% growth in M-o-M comparison. The IT/Telecom sector posted 4% growth in Dec 20, exactly similar to its Nov 20 performance and grabbed the second spot. Industry-wise top M-o-M gainers in Dec 20 were:

BFSI: 5%

IT/Telecom: 4%

Retail: 3%

Functional area-wise top gainers in talent demand:
The Banks/Insurance profile recovered from (-2%) talent demand in Nov 20 to gain 9% in Dec 20. It was the topmost profile sought by the recruiters in the review month. The Doctors/Nurses profile had seen a setback in talent demand in Nov 20, grew to 3% in Dec 20 and became the second most preferred work profile. The IT/Telecom profile – which was the top talent demand gainer in Nov 20 – saw 2% growth in Dec 20 but could not make it to the top three positions. Functional area-wise top M-o-M gainers in Dec 20 were:

Banks/Insurance/Financial Services: 9%

Doctors/Nurses/Medical Professional: 3%

Accounting & Finance:3%

City-wise analysis:
Ahmedabad’s talent demand saw a huge improvement, jumping from (-15%) in Nov 20 to 15% in Dec 20, and became the top city for talent demand. Jaipur followed a similar trend, recording a jump from (-13%) in Nov 20 to 14% in Dec 20. The pink city grabbed the second spot in the city-wise talent demand list. Among the metro cities, Delhi-NCR witnessed de-growth of (-3%) in talent demand while Chennai, Mumbai and Pune saw a single-digit growth in the review month. City-wise top M-o-M gainers in Dec 20 were:

Ahmedabad: 15%

Jaipur: 14%

Mumbai: 9%

Work experience-wise analysis:
Talent demand for people with 10-20 years of work experience gained most M-o-M growth of 4% in the review month. Senior professionals with over 20 years of work experience – which were the most sought work experience range in Nov 20 – saw no momentum in Dec 20. Work experience-wise top M-o-M gainers in Dec 20 were:

10-20 years of work experience: 4%

Freshers and people with less than 2 years of work experience: 3%

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