BFSI & Retail Industry

BFSI & Retail Industry Leads In Generating The Highest Number Of Jobs: Spectrum Talent Management

Spectrum Talent Management, a one-stop solution for global-local human talent management, has recently released a report on a comparative analysis of various sectors generating job opportunities in the country. BFSI and the Retail sector have emerged as the top two sectors, which have resulted in the highest number of job openings in the last six months.

Both sectors are closely followed by IT (40%), Manufacturing (30%), Chemicals and Pharma (20%), and Automotive (15%). The top five cities that have consecutively reported the maximum number of hirings are Mumbai, Chennai, Bengaluru, Hyderabad, NCR, and Kolkata. There is also significant demand for entry-level hiring across sectors, with a 25% increase in fresher’s recruitment.

A positive demand curve has been witnessed for Tier II and Tier III hiring across cities like Baroda, Bhuvaneshwar, Pune, Kochi, and Jaipur, to name a few. The spike would indicate an average 8% – 12% increase. Even cities like Trivandrum, Coimbatore, and Chandigarh have generated a fair job demand.

While the IT hiring in the past two quarters has been encouraging, the global slowdown is expected to impact tech hiring in the upcoming months. Though the tangible impact of the slowdown is yet to be reflected entirely, the next two quarters will be critical in this aspect.

Sharing his insights on this hiring trend, Sidharth Agarwal, Director, Spectrum Talent Management, said “We have already witnessed a surge in hiring post-two-year hiatus of a global pandemic. But no one is immune to economic head turns, and a slowdown is expected across industries. Amidst all the economic slowdown concerns, many sectors are flourishing with job openings. With an excellent Q1 for many businesses, Q2 will be a more definitive period to determine the hiring projection for the rest of the year”.

Author: BW Online Bureau