Fresher hiring intent sees further uptick in second half of 2024

Around 72% of employers surveyed across India intend to hire freshers in their organisations during the second half (July to December) of 2024, indicating a growing positive sentiment towards hiring first-time job seekers in the country.

The increasing hiring intent among employers offers hope for fresh graduates, even those from top institutions like IITs who have faced difficulties in securing jobs.

Fresher hiring intent during the second half of 2024 (H2 2024), which reflects the proportion of employers inclined to recruit fresh graduates, increased from 65% in the corresponding period of 2023, according to TeamLease EdTech Career Outlook Report (HY2, July – December 2024).

The report is based on employer surveys conducted between April and July 2024, covering 603 companies across India.

In the first half (January to June) of 2024, fresher hiring intent rose to 68% from 62% in the same period of 2023.

“The rise in fresher hiring intent can be attributed to India’s ongoing economic growth, particularly in sectors like infrastructure, manufacturing, and technology. Government policies supporting job creation, especially in low-skill roles, are playing a crucial role in driving this trend. Investments in these sectors are creating a ripple effect, leading to increased demand for fresh talent to support expansion efforts,” TeamLease EdTech Founder and CEO Shantanu Rooj, told YourStory.

He added that this trend is likely to continue into the next year as these sectors further develop and the demand for skilled labour remains strong.

“We should see a quarter-on-quarter growth on this if the government continues its policy support to the industry. The support promised by the FM in her budget for new hires shall also help this cause,” he explained.

Rooj, however, pointed out that this trend does not necessarily signal a full-scale recovery across all job sectors as the appetite for hiring freshers is more about addressing immediate workforce needs in expanding industries rather than an overarching improvement in the employment landscape.

While positive, this trend should be viewed within the context of ongoing economic challenges and sector-specific growth, he added. 

The overall intent to hire across all categories, including freshers and experienced individuals increased to 81% in H2 2024 from 73% in the same period of 2023.

Tech startups hiring, IT industry uncertain

The TeamLease EdTech chief highlighted that the push towards digitalisation and the adoption of new technologies is creating new opportunities for freshers, making this a promising time for young professionals entering the job market.

The top four industries showing increased intent to hire freshers in the second half of 2024 compared to the same period in 2023 are ecommerce and technology startups, rising to 61% from 59%; engineering and infrastructure, climbing to 59% from 50%; retail, jumping to 54% from 39%; and manufacturing, increasing to 52% from 41%.

However, the hiring sentiment for freshers in the information technology (IT) industry declined to 45% in the second half of 2024 from 49% in the corresponding period of 2023, though it did rise from 42% in the first half of 2024.

“The outlook for the IT industry is still a bit uncertain as it is dependent on global geopolitical situations and revival of the Western markets. We do not see this improving significantly in the next 3 quarters,” Rooj noted.

Top roles, in-demand skills

The most sought-after roles for freshers, spanning various cities and industries, include positions such as data analyst, full stack developer, SEO executive, Jr. DevOps engineer, digital sales associate, content marketing assistant, supply chain associate, legal associate, microbiologist, data engineer, network systems analyst, medical research associate, finance analyst, UI/UX designer, and biochemist.

Some of these roles are indicative of the evolving needs of the industry, particularly in the technology and digital sectors, according to Rooj.

The career outlook report highlights the in-demand domain skills for freshers, encompassing areas such as data analytics, cybersecurity, cloud computing, machine learning, search engine optimisation and content creation.

In addition to technical proficiencies, soft skills such as communication, critical thinking, negotiation, teamwork, project management, creativity, and emotional intelligence are also emphasised as crucial components of a well-rounded candidate, said Rooj.

Speaking about improving the hiring outlook for freshers, Rooj noted that it requires a multi-faceted approach—they need to focus on continuous skill development, staying updated with the latest industry trends, and understanding the specific needs of the job market. 

“This proactive approach includes seeking out upskilling opportunities, whether through additional certifications, online courses, or workshops. Additionally, there should be a concerted effort to enhance employability through mentorship programmes, career counselling, and job placement services provided by educational institutions,” the CEO remarked.

According to the report, in-demand courses such as product management certification programme, graphic design specialisation certification, certification in full stack development, certified financial planner, and advanced certificate programmes in data science are aligned with the skills employers seek.

“By staying adaptable and continuously refining their skill sets, freshers can improve their job prospects and remain competitive in a dynamic job market,” Rooj said.