With rise in the number of opportunities and openings, job opportunities in FY22 is significantly growing: Talent Insight report
Mumbai, June 2022: Leveraging its matchless network, incredible wealth of data and deep-rooted understanding of the job market, Shine.com, India’s second-largest job search platform, has unveiled the latest ‘Talent Insights’ report revealing optimistic yet consequential employment trends in the fast-growing Indian market. The report highlights that compared to FY21, the number of employment opportunities and openings has significantly boosted the opportunities in FY22. In fact, the job market in April-May 2022 has witnessed a massive boom as opposed to the same period last year.
Furthermore, the report also revealed that 48% of the companies intend to start functioning from the office in 2022-23, while 40% prefer the hybrid model and the rest 12% are happy with the work-from-home approach. Moreover, the report underscored the noteworthy shift in hiring trends. 81% of the companies admitted that hiring has increased in non-metro towns. This is primarily due to the remote working facilities and offices shifting to non-metro areas because of cost-cutting opportunities and expansion possibilities. This hiring trend is remarkably more pronounced in the cases of new-age startups.
Akhil Gupta, CEO, Shine.com said,“’We thank our vast network of HR professionals, who have shared their valuable inputs and helped us launch first Mint + Shine Talent Insights. The report covers not only hiring trends across geographies and sectors, but also softer aspects such as talent attrition and salary increments. We aspire to keep evolving this over time and bring more relevant insights to broader HR fraternity and job-seekers alike.’’
The increment section is the best part of the report for professionals and job seekers alike. According to Shine.com’s ‘Talent Insights’ report, in three out of four cases, employees can expect double-digit increments this financial year, whereas one-third of the cases are forecasted to get more than 20% increment.
The report also sheds light on the rapidly changing zonal, state, city and sector-wise hiring trends and key skill areas and profiles dominating the contemporary job market. Here’s a quick view of the same:
● Zonal and State contribution to employment opportunities: FY21 vs FY22
According to Shine.com’s report, while the zonal contribution to employment opportunities has remained more or less the same in the last two years, the South (41%) still has the most considerable portion of the pie. It is followed by North (26%), West (19%), and East (13%).
In terms of state contribution, the top three contenders are Maharashtra, Karnataka and Tamil Nadu, which have remained in their position during this period. It is pertinent to note that more than one-third of the total employment opportunities emerge from these states.
Similarly, metro (40%) towns have retained the lion’s share of the job market. However, there’s also been an increase in the share of below 1 lakh population towns in the FY22 job market.
● Sector-wise employment opportunities: FY21 vs FY22
Though the IT sector has maintained its position as the leading contributor of job opportunities, it has witnessed a slight decline compared to the last financial year. However, it is nothing compared to the manufacturing sector, which saw a massive drop-down of 11%.
On the other hand, the Banking, Financial Services, and Insurance Sector (BFSI) has gained significant traction and registered a 6% increase in overall employment opportunities. In addition, the construction, recruitment, shipping and education sector’s contribution to overall employment opportunities is also on the rise.
● Leading job markets and city-wise preference
According to Shine.com’s report, half of the recruiters consider Bengaluru the top-tier job market in India. However, regarding city-wise hiring preferences, Bengaluru, Delhi NCR and Mumbai are almost equally favoured. Apart from these three high-end cities, Chennai and Jaipur are also becoming increasingly popular in the eyes of modern-age recruiters.
● In-demand skills vs Trending profiles
Across all sectors, MNCs, corporates, start-ups and others, digital marketing (38%) is the most sought-after skill. It is followed by programming languages (IT Python), cloud computing and DevOps, whereas the third most popular skill is expertise in Artificial Intelligence and Machine Learning. On the other hand, in terms of the most notable job profile, the crown is bestowed on the Data scientist (50%). It is followed by Cloud Architect (20%) and Blockchain Engineer (10%).
Vijay Nair, Vice President and Marketing Head, Shine.com, said, “The post-pandemic job market in India is flourishing at twice the speed. In particular, new and dynamic skills and digital integration have boosted the job market by leaps and bounds. Shine.com’s latest ‘Talent Insights’ report unveils a comprehensive map of how the Indian job ecosystem is progressing in these unprecedented times. Shine.com has always strived to equip job seekers and fresh graduates with reliable insights, data and all-inclusive views to take the right career path. This report provides job market stakeholders with undeniable proof of where the employment sector is headed. Professionals, both first-timers and established ones, can assess these trends and make informed job-related decisions.”