February 13, 2024
E-commerce and technology startups lead in fresher hiring intent at 55%, followed by engineering and infrastructure (53%), and telecommunications (50%)
Multiple sectors, including engineering, logistics, power, FMCG, agriculture, manufacturing, construction, retail, healthcare, and travel, have witnessed an uptick in fresher hiring intent
Bengaluru emerges as the frontrunner with a hiring intent of 69%, followed by Mumbai (58%) and Chennai (51%), while Delhi shows a 2% increase at 45%
For freshers to stay relevant in the dynamic job market, continuous learning is emphasised
The latest Career Outlook Report from TeamLease EdTech reveals a 6% year-on-year increase in fresher hiring intent during the first half of 2024 in India. The fresher hiring intent has risen to 68%, up from 62% in the first half of 2023. Hiring intent indicates the percentage of employers likely to hire recent graduates within six months. Overall, hiring intent for all job seeker categories is expected to rise slightly to 79.3%. Shantanu Rooj, CEO of TeamLease EdTech, notes that organisations, previously conservative amid global uncertainties, now display increased confidence in recruiting fresh talent.
The top three industries with the highest hiring intent for freshers include e-commerce and technology startups (55%), engineering and infrastructure (53%), and telecommunications (50%). Sectors experiencing an overall uptick in fresher hiring intent compared to the second half of the previous year include engineering and infrastructure, logistics, power and energy, FMCG, agriculture and agrochemicals, manufacturing, construction and retail, essential and non-essential retail, healthcare and pharmaceuticals, and travel and hospitality.
High-demand roles for freshers across industries include graphic designer, legal associate, chemical engineer, and digital marketing executive. Bengaluru leads in hiring intent at 69%, followed by Mumbai at 58%, Chennai at 51%, and Delhi at 45%, a 2% increase from the second half of 2023. The IT industry, however, records a decrease in fresher hiring intent from 49% in HY2 2023 to 42%.
The report also notes that two of the top three industries with the highest hiring intent for freshers—e-commerce and technology startups (4%) and telecommunications (3%)—have seen an overall decrease compared to the second half of the previous year. Industries intending to hire degree apprentices include manufacturing (22%), engineering and infrastructure (15%), and construction and real estate (9%).
The report highlights the impact of generative AI on the job landscape for freshers, highlighting that jobs are evolving through human-AI collaboration rather than outright replacement. Continuous learning and adaptability are crucial for freshers entering an era of continuous technological advancement powered by generative AI. Roles such as software developers, technical writers, legal assistants, market research analysts, financial analysts, graphic designers, HR executives, game designers, and content curators are expected to undergo transformation. Jaideep Kewalramani, COO of TeamLease EdTech, suggests that specialised courses preparing students to leverage generative AI tools can equip new professionals with the necessary knowledge to thrive in this evolving landscape. The survey covers 526 companies across 14 geographical areas and represents 18 industries in India.
Source: Economic Times