Hiring activities surged 12 per cent year-on-year in December 2021, showcasing an optimistic recovery cycle at the close of the year, as per the Monster Employment Index. There has been robust growth in hiring activity in the last six months with a 6 per cent uptick, while December 2021 saw a monthly incline of 2 per cent in December 2021 as compared to the previous month.
Across experience levels, the demand for freshers (0-3 years) saw a positive incline in hiring activity, leading with the highest growth at 2 per cent. Hiring demand for intermediate level (4-6 years) also witnessed 2 per cent incline, mid-senior level (7-10 years) grew marginally at 1 per cent, and senior-level (11-15 years) witnessed muted growth. It is notable that, after months of positive growth, demand for top management (over 15 years) saw a downtrend with a 1 per cent decline in hiring activity in December 2021 (Dec 2021 vs Nov 2021).
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Top management roles (over 15 years) witnessed considerable year-on-year growth at 64 per cent on account of increasing changes in company hierarchy and management over the course of the pandemic (Dec 2021 vs. Dec 2020). Mid-senior level (7-10 years) professionals saw growth of 37 per cent, intermediate level (4-6 years) inclined by 30 per cent, and senior level (11-15 years) by 21 per cent. Hiring demand for entry-level professionals (0-3 years) witnessed a growth of 9 per cent in December 2021 as compared to the previous year.
Across industries, in December 2021, retail and agro-based industries witnessed a positive incline of 12 per cent, on account of multi-channel approaches, technological adoption, and government initiatives. The demand for roles in healthcare witnessed a surge of 6 per cent on account of rising Covid-19 cases in the country, while roles in HR and admin increased by 5 per cent, finance, and accounts by 4 per cent.
A year-on-year comparison indicates that industries such as retail (14 per cent) and travel and tourism (4 per cent) witnessed a revival and are estimated to grow further in 2022. As many as 22 out of 27 industries witnessed an incline in hiring activities. Office equipment/automation (86 per cent), printing/packaging (36 per cent), BFSI (35 per cent), IT-hardware, software (30 per cent), telecom/ISP (23 per cent) also witnessed a jump in job posting activity. It is promising to note that industries such as retail (14 per cent) and travel and tourism (4 per cent) are faring well in contrast to a dip in the previous months, as they pave the way to recovery from the ramifications of the pandemic.
The engineering, cement, construction, iron/steel (-13 per cent) saw a dip in hiring in December 2021 due to increased labour migration causing bottlenecks in logistics and construction. Other sectors performing with a sequential decline in hiring demand include import/export (-8 per cent), government/ PSU/ defence (-7 per cent), media and entertainment (-6 per cent), and education (-4 per cent). The education industry, which witnessed a complete shutdown of physical classes, continues to recoup at a slow pace, the report adds.
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As many as 11 out of 13 cities showed an optimistic outlook towards growth with Bangalore (5 per cent), Mumbai (4 per cent), Delhi-NCR (4 per cent), Hyderabad (4 per cent), Pune (3 per cent), Kolkata (3 per cent), Chennai (3 per cent), Kochi (3 per cent), Jaipur (3 per cent), Coimbatore (2 per cent), and Ahmedabad (1 per cent) looking up, while Chandigarh witnessed stabilized growth. Baroda (-1 per cent) continued to show a slight decline in hiring activity on a month-on-month basis.
Further, on a yearly basis, tier-2 cities such as Kolkata (13 per cent), Coimbatore (11 per cent), Kochi (5 per cent), and Baroda (2 per cent) observed favourable rise in hiring activity along with metro cities. Bangalore (29 per cent) accounted for the highest growth, followed by metros Hyderabad (22 per cent), Pune (20 per cent), Chennai (19 per cent), and Mumbai (15 per cent). Cities that revealed continued dip in hiring include Jaipur (-12 per cent), Chandigarh (-9 per cent), and Ahmedabad (-4 per cent).
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