BENGALURU: The country’s hiring landscape is set for growth despite many challenges it faced in 2023. From BFSI, ecommerce, consulting to healthcare and analytics and data, many sectors show a significant hiring intent in 2024.
Akshay Munjal, Founder and CEO, Hero Vired said, that despite various challenges in the job market, the Shine Talent Insights Report projects a favourable market for Indian job seekers in the coming quarter, with seven out of ten IT companies in India expressing intent to expand their workforce in the coming year.
India’s hiring landscape is projected to expand by 8% in 2024, with evident growth already apparent in sectors like Manufacturing, BFSI, Automotive, Retail, and Travel & Tourism. While 2023 witnessed a dip in e-recruitment activity, the last quarter hinted at a marginal yet positive hiring trend, said Sekhar Garisa, CEO of Foundit (formerly Monster APAC & ME).
Experts say though top IT companies are on hiring freeze, they will give preference to skill-based hiring such as AI/ML, cloud computing, cyber security and DevOps roles. “Campus hiring is currently down to 15%, with a 25% overall decline predicted in 2024. 2023 has been a dull year due to an economic slowdown which has reduced attrition, but it has also stalled headcount growth in the sector. Additionally, a slowdown in overall increment has influenced hiring dynamics in the IT industry,” said Anshuman Das, CEO and Co-Founder, Careernet.