Exciting opportunities ahead for IT, Educational Services, Ecommerce, and Telecommunication sector
TeamLease services, a conglomerate revolutionizing employment, employability, and ease of doing business in India, has launched its “Employment Outlook Report” for Q3 (October to December 2022) for the services sector.
According to the report findings, the optimism in the services sector continues as 73% of employers are ardent to increase their resource pool this quarter.
As the demand for services has increased post the pandemic, large firms (79%), medium-sized firms (45%), and small firms (57%) have all mustered a strong hiring intent.
For candidates aspiring to secure opportunities in the services segment, the key sectors expressing a higher purpose to hire are Information Technology (96%), Educational Services (95%),
E-commerce & Allied Start-ups (92%), Telecommunications (90%), Retail Essential, Financial Services (78%) and Logistics (75%), medium-sized, Organizations are mainly hiring for IT, Sales, and Engineering roles.
Sharing his views about the industry and the report’s findings, Mr. Mayur Taday, Chief Business Officer TeamLease Services, said, “The resurgence in the services sector post-COVID has been strong. Companies have shown a lot of optimism about increasing their workforce.
The festive quarter has brought positive tidings, especially for freshers and entry-level talent. Close to 74% of employers are enthusiastic about hiring young talent, and 69% are about hiring junior talent. For mid and senior-level talent, hiring intent stood at a moderate 48% and 34%, respectively”.
“The positive synergy across these sectors is primarily driven by the ongoing festive season (e-commerce, retail, and logistics), roll out of 5G technology (telecom and IT), and the shift to digital learning (start-ups and educational services)”, added Mr. Ajoy Thomas, Vice President and Business Head (Retail, E-Commerce, Logistics, and Transportation), TeamLease Services.
From a location perspective, Metro & Tier-1 cities (95%) followed by Tier II (75%) lead in hiring intent. However, Tier III and rural geographies still stand low on hiring purposes, indicating the trickle-down effect of post-pandemic services job creation is yet to gain significant traction.
The locations for services-focused job roles are Bangalore (97%), Chennai (90%), Delhi (86%), Hyderabad (82%), Mumbai (79%), Pune (69%), and Kolkata (55%). For the IT industry, the top location continues to be Bangalore and Mumbai for Financial Services and Telecommunication in Delhi.
Further, according to the report, attrition stayed under control in the sector. In the previous Q2 quarter, IT faced the highest level of deterioration (25.23%), followed by Educational Services (15.24%) and Ecommerce & Allied Start-ups (14.02%).
The TeamLease Employment Outlook Report is a forward-looking tool that has surveyed 579 service companies across 14 cities in India. The Intent to Hire indicator is particularly adapted to capture both moderate and significant changes in hiring sentiment as companies.
The metric enables us to accurately record the environment during a particular quarter and contrast it with the background from the preceding quarter.
