Hiring Slows Down by 7% Overall, but Tier 2 Cities Show Resilience: foundit Insights Tracker
- HR & Admin Sector Experiences Surge in Demand, Especially in the IT Industry
- Customer Service Roles Experience a Sharp Decline in Demand with a Significant 33% Drop
- Ahmedabad, a rising hub for media, advertising, and PR opportunities, observes impressive growth in these sectors, reflecting a thriving market.
May FIT Report: Industries that Thrive Amidst Hiring Slowdown
The fit report for May is here! It was a month of ships, shops and shores. By which we mean that Shipping, Advertising and Travel were the bright spots in the midst of a larger slowdown in hiring across industries.
Among functions, HR & Admin has been busy. It was one of the few functions where demand has picked up. Though the HR function grew across industries, the biggest driver of growth for HR has been the IT industry.
HR folks hiring more of their own? That’s welcome news for the IT industry. It could indicate positive hiring sentiment in the IT sector as the year goes on.
And where is this HR & Admin hiring happening? The activity is highest in Pune (19%), followed by Chennai (18%) and Delhi-NCR (15%) … but relatively muted in Bengaluru (5%).
HR & Admin roles aside, the hiring sentiment across roles has been drab in most cities, save for Ahmedabad!
Which is why this month’s fit report focuses on what’s brewing for Amdavadis! A quick snapshot: Most of the e-recruitment buzz in the city was driven by early career professionals. Jaipur too had a decent year when it comes to hiring. (Read the report for juicy details about salaries across industries and experience levels in these cities)
And finally, we leave you with a question: Is it off season for the ‘big fish’?
The fit report shows that among all experience levels, the Leadership roles (people with more than 16 years of experience) were the worst affected by the negative hiring sentiments… with a whopping 40% dip in e-recruitment levels!
Will that improve in the coming months? That’s anybody’s guess!
Period for the report
The period considered for the foundit Insights Tracker (fit) data is 1st to 31st May 2023.
