Hiring for fresh talent rises 3% in HY23, shows job market optimism: Study

Hiring intent for all categories of jobseekers increased to 73%: TeamLease

Hiring for fresh talent increased 3 per cent in the second half of this year (HY2 2023) compared to the first as three industries led the trend, said a report on Tuesday.

Hiring intent for all categories of jobseekers increased to 73 per cent from 68 per cent in the same period to indicate an optimistic job market in the coming months, said the TeamLease 'EdTech Career Outlook Report' for HY2, 2023.

The job market for freshers increased 6 per cent in July-December 2023 compared to the same period of the last half-year.

The three industries that led in hiring intent for freshers were e-commerce and technology startups (59 per cent), telecommunications (53 per cent), and engineering and infrastructure (50 per cent), said the report. Hiring for freshers in HY2 2023 increased to 65 per cent compared to 62 per cent HY1

The information technology (IT) industry’s intent to hire freshers declined 67 per cent compared to HY1 2023. Intent was at 49 per cent in HY2 2023, compared to 67 per cent in HY1 2023. Some emerging sectors, such as travel and hospitality, recorded an increase of 5 per cent in such hiring intent (HY2 2023 versus HY1 2023).

Fresh software devops engineers, chartered accountants, search engine optimisation (SEO) analysts, and UX designers were in demand across various industries. Bengaluru topped cities in hiring intent at 65 per cent, but the number decreased by 10 per cent compared to HY1 2023. Bengaluru was followed by Mumbai at 61 per cent and Chennai at 47 per cent: an increase of 5 per cent in hiring for the two cities compared to HY1. Delhi’s intent was at 43 per cent, a decline of 4 per cent from HY1 2023.

“Amid a challenging hiring landscape, the Indian job market indicates a marginal uptick with a 3 per cent increase in the intent of hiring freshers. It's particularly encouraging to witness the emergence of new and trending sectors like travel and hospitality,” said Shantanu Rooj, founder and chief executive officer of TeamLease EdTech.

Courses that freshers can take up to improve their employability include certification courses in digital marketing, business communication, data science, and postgraduate programmes in artificial intelligence and machine learning, said the TeamLease report.

“We are currently witnessing a noticeable shift in the skills employers are seeking from freshers. Employers are keen to hire freshers who are digitally savvy and capable of learning in the constantly evolving world of work,” said Neeti Sharma, co-founder and president of TeamLease EdTech.

The report included a new segment on degree apprenticeship and its growing popularity amongst students and employers. The top three industries planning to hire degree apprentices are manufacturing (12 per cent), engineering and infrastructure (10 per cent), and power and energy (7 per cent).

The survey was done among 737 small, medium, and large companies in 18 sectors across India. The coverage is distributed across 14 geographical areas (including metros, Tier-I, and Tier-II), reflecting the hiring sentiment.

-          BS