IT/Telecom Sector Posted High Talent Demand In January 2021
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The year 2020 will go down in history as the worst possible year faced by mankind. Plagued by the contagious virus across the world, people died, the healthcare sector was under stress, businesses were shut down, and people lost their livelihoods. However, as countries kick off vaccination drives with the dawn of a new year, it seems there is light at the end of the tunnel.
With travel restrictions being eased, and people again thronging on the streets, return to normalcy is nearby. Similarly, demand for talent is on rise, as the economy is propelling to revive.
According to a survey by RecruiteX, IT/Telecom and BFSI (Banking, financial services and insurance) sector claimed most talent demand in January this year when the other industrial sectors posted negative demand during the same time.
The IT/Telecom sector posted a 2 per cent rise in talent demand after growing at 4 percent, followed by the BFSI sector which observed a 1 per cent growth after posting a 5 per cent growth in December last year.
These trends were highlighted by TimesJobs RecruiteX - a monthly recruitment index that records the demand and supply of talent at India Inc.
Interestingly, Tier II cities saw the highest job demand with Indore and Chandigarh recording a double digit growth of 23 per cent and 19 per cent respectively. Among the metro cities, Mumbai posted a highest month -on-month growth of 9 per cent. Delhi-NCR too shown a strong talent demand of 5 per cent.
The Quality/Process Control was the most sought after job profile in the last month.It grew from -8 per cent mark in December to 14 per cent in January. The Banks/Insurance/Financial Services profile had topped the talent demand index in December, 2020 with 9 per cent rise but registered only 2 per cent month-on-month growth in January 21.
Demand for talent was high among applicants with 5-10 years of experience seeing a 30 per cent growth and aspirants with 2-5 years of work experience had demand rise of 25 per cent.
Commenting on the findings of RecruiteX January 21 edition, Sanjay Goyal, business head TimesJobs and TechGig said, “The IT sector is steadily building up its talent demand. It has been posting a single-digit growth since Sept 20. The Biden admin delayed the implementation of Trump era rule on H-1B visa, which will help boost the Indian IT sector. With the COVID-19 vaccination in full swing and the substantial announcements for Healthcare, Infrastructure and Skill Development in the Union Budget 2021-22, I’m anticipating that the talent demand will see a significant rise in the coming months.”