Recruiters are back scouting for talent as various sectors take the cue from the nation's higher growth trajectory.
Hiring seems to be gaining momentum across all sectors thanks to the nation's economic turnaround post-downturn.
Five-lakh jobs are likely to have been created in the organised sector in the first half of the year, with almost 3.5 lakh in the second quarter. The recovery from economic recession has added to the momentum of the health-care sector, which came first in employment generation with 52,752 jobs in Q1, followed by the hospitality sector with 21,500. The education, training and consultancy sector added 16,200 jobs.
Estimates for Q2 are that the health-care sector again would have added the largest number of jobs — 96,248. The real estate and construction sector is estimated to have added 52,115 jobs, the second highest, closely followed by the hospitality sector with 49,000. The IT and the ITES sector is estimated to have added 34,000 jobs; the media and entertainment sector, 28,700; and education, training and consultancy, 23,200.
These and other findings emerged in an “employment trends survey” conducted by Ma Foi Randstad, a human resources consultancy firm. The estimates of likely figures of employment creation for the April-June period and the actual number of jobs added from January to March for the organised sector were arrived at after surveying employment trends in 650 companies across 13 industry sectors in Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune.
Employment trends across all sectors are expected to have been at a faster pace in the second quarter, says K. Pandia Rajan, chief executive officer of Ma Foi Randstad (India & Sri Lanka).
In an e-mail to The Hindu-EducationPlus, he says the performance of the country, especially from January to March, has provided an impetus for growth for all sectors. However, recruitments will be done in a planned manner through the year rather than aggressively at one go. Intra-sector movement of skilled workforce is expected.
Mr. Rajan says the survey results, released in June, estimates that every sector would have generated employment, though in varying degrees. The high performance of the economy had encouraged sector players to recruit many.
The banking, financial services and insurance (BFSI) sector is expected to have added 20,200 jobs by June. The positive developments on the economic front and the stimulus provided in the Union Budget have raised its sentiment. The industry is expecting the good times to continue. This is reflected in a substantial rise in employment during the April-June quarter.
Though the recruitment is estimated to have been higher during the second quarter, companies are cautious from experience and the hunt for people will not be aggressive.
The survey says that the IT and ITES sector would have added 41,200 jobs by June-end. Continued demand from international markets is playing a critical role in the hiring process in the sector. Domestic demand also helps. The Unique Identification Number project, or Aadhar, will have a positive impact on the hiring pattern.
The survey says the pharma sector would have added 12,000 jobs by the end of Q2. One of the fastest-growing manufacturing sectors, it is likely to have added an equal number of jobs in each quarter.
The sector, including the domestic arms, generic exports and CRAMs (contract research and manufacturing services), continues to grow at about 13 per cent, dwarfing the global average of five-six per cent. The health-care sector is expected to grow 23 per cent and is likely to add 1.61-lakh jobs.
The boom in the private health-care sector continues. New private hospitals, including super-specialty ones, along with expansion of existing facilities, create a huge opportunity for employment, the survey says. The entry of new players into the health insurance market is another factor.
The trade sector, yet to recover completely, is expected to have added 7,600 jobs during the six months. The expected entry of new players, the economic boost and higher consumer spending are encouraging factors for the sector to build momentum gradually. The growing positive sentiment has been reflected in the higher expected recruitment in Q2.
The energy sector is expected to have added 10,100 jobs. An allocation of Rs.5,130 crore for the Rajiv Gandhi Gram Vidyut Yojana, exemption of excise duty on wind power generation and concessional customs duty on equipment required for photovoltaic and solar thermal power units will spur its growth.
The transport, storage and communication sector would have added 15,900 jobs by the end of Q2, thanks to the thrust on infrastructure development in the Union Budget plus the Rs.1,73,552-crore Plan allocation for infrastructure development, the survey says.
The real estate and construction sector would have added 61,100 jobs by June, the survey says. The economic recovery and positive sentiment towards the sector is expected to have led to higher employment. An increase in allocation for infrastructure schemes, such as road development, will play a positive role.
Announcement of investment-linked tax deduction in the budget has given a big boost to the hospitality sector.
How cities fare
Delhi and the National Capital Region (NCR) is expected to have added 38,350 jobs (17,650 in Q1 and 20,700 in Q2) by June. An expectation of better performance across sectors has increased optimism among companies, raising the hiring intent.
Mumbai is expected to have added 27,650 jobs (12,750 in Q1 and 14,900 in Q2); Chennai, 11,900 (5,600 and 6,300); Kolkata, 8,350; Bangalore, 6,800; Hyderabad, 6,200; Pune; 5,400; and Ahmedabad, 3,260.
Where freshers go
The health-care sector is creating the most number of new jobs for freshers (36.7 per cent) followed by BFSI (34.1) and manufacturing of machinery and equipment (29.4). Delhi and NCR is leading in job creation for freshers with a 34.6 per cent share followed by Ahmedabad (32.1) and Bangalore (29.7). Nearly 75 per cent of the jobs created will be for experienced professionals and freshers are expected to fill the rest.