56 pc of industries exceed online hiring demand in May 2021: Monster Employment Index
According to Monster Employment Index by Monster.com, the month of May showed growth despite the second wave and the lockdowns that followed. Compared to April 2021, May showed a growth of 1 percent, whereas May 2021 grew 4 percent compared to May 2020.
The overall job postings have also increased by 4 percent year-on-year (May 2021 vs. May 2020). The hiring for the top management level professionals, with 16 or more years of work experience, witnessed a growth of 66 percent year-on-year.
In terms of job postings, IT - Hardware, Software hiring witnessed a year-on-year growth of 67 percent in Bangalore and 49 percent in Hyderabad. Industries that indicate the highest year-on-year growth in hiring across the key cities are Banking and Financial Services, Insurance and IT - Hardware, Software.
Among the functions, Software, Hardware, Telecom indicate growth across all the key cities such as Bangalore (79 percent), Hyderabad (62 percent), and Chennai (50 percent). Overall recruitment activities showed a phenomenal uptrend in most of the cities year-on-year.
"It is promising to see an improvement in hiring despite the impact of the second wave of the pandemic. Industries and functions have now learned to adapt to the current situation and hence the disruption is lesser in the hiring plans,” Sekhar Garisa, CEO of Monster.com said.
He added, “Some industries have significant tailwinds due to the new normal, and are flourishing in the new, dynamic environment. With Government & Organisations across the board working on an aggressive vaccination programme, we are hopeful for quicker restoration of normalcy and accelerated hiring scenario.”
The hiring stats are also on a rise across the industries indicating an uptick year-on-year. In fact, the comparison shows hiring in 56 percent of the industries fared better as compared to the same time last year. It indicates that companies and employers are now better equipped to face the pandemic, despite the effect of the second wave.
While functions such as Software, Hardware, Telecom (32 percent), and Senior Management (15 percent) indicate a positive uptick in job postings year-on-year, Customer Service (-34 percent) and Sales & Business Development (-22 percent) indicate the most decline in hiring.
Those for Senior Management professionals (11-15 years), Mid-Senior professionals (7-10 years), and Intermediate roles (4-6 years) saw an increase of 14 percent, 20 percent, and 13 percent year-on-year. However, job postings for entry-level profiles (0-3 years) have declined by 11 percent.