Page told FE the main reason for this is that with companies re-aligning themselves with the new normal, there has been a need for new talent. Also, companies have understood the current conditions will continue for some time. “There’s less uncertainty and that has led to more hiring,” Dumoulin explained.
The momentum in the job market may have lost some pace in September but the good news is that 93% of the 1.76 lakh positions filled were permanent ones. Full-time hirings numbered 1.64 lakh compared with 1.5 lakh in June, according to data from Xpheno. Employment levels have now moved back all the way to 75% of pre-Covid levels, according to Nicolas Dumoulin, MD, Michael Page India.
Page told FE the main reason for this is that with companies re-aligning themselves with the new normal, there has been a need for new talent. Also, companies have understood the current conditions will continue for some time. “There’s less uncertainty and that has led to more hiring,” Dumoulin explained.
Employers who were earlier considering more non-permanent roles, part-time assignments, internships, contractual and also remote-working roles, seem to be more open now to full-time positions. The count of remote working options, for instance, fell to below 2,000 in September from 6,000 in May. As Kamal Karanth, co-founder, Xpheno observed the trend seems to be in favour of full-time roles. “As we go further into Unlock 5.0 in October one should expect the numbers to climb further,” Karanth said.
Aditya Narayan Mishra, CEO, CIEL HR Services, said his firm has started recruiting for a host of sectors — manufacturing, engineering and industrials — where jobs have been non-existent for the better part of the year. “Companies in the field of education technology, financial technology, healthcare technology, IT product companies which are leveraging technology, FMCG, pharma and life sciences and logistics, are recruiting, Mishra said.
The expected festive season demand is also driving firms that provide essential services and logistics to hire for sales and supply chain roles. “E-retailers are hiring staff to man their warehouses and also delivery boys,” Mishra said.
As has been happening for some time now, businesses are becoming more digitised and automated. Consequently the demand for IT professionals has been increasing. In addition, there is an increasing requirement for legal professionals, with positions being filled up now that there’s more confidence in the economy.
However, even as companies add manpower, Karanth points out businesses are hiring less at senior levels. “The change in the level mix suggests enterprises are optimising their workforce to keep it light at the top. Some of the larger players continue to prune the top layers and are not filling the vacancies,” he said.
Over 34% of openings in September were entry-level opportunities, 30% were for-middle to junior roles and 14% for the mid-senior category. A large fall in counts were seen in senior level openings. To be sure, as Dumoulin observed, there are also opportunities at senior management levels in spaces such as private equity or companies that are foraying into new businesses. Sectors such as aviation, hospitality and entertainment, however, are seeing no hiring at all.
