India Inc. recruiters never stop hunting for new blood (fresh talent), but it seems ‘old’ (read experienced professionals) is the new ‘fresh’. As TimesJobs RecruiteX, a monthly recruitment index that records the demand and supply of talent shows the demand for senior hires is on the rise.
Amid the fear of economic slowdown and speculations about the return of recession, hiring for senior professionals with 20+ years of experience has noted a double-digit growth (17%), reveals TimesJobs RecruiteX. In Y-o-Y comparison, senior executives in this experience bracket recorded 28% growth.
This could mean only two things, either India Inc is replacing the old ‘non-performers’ or creating new positions citing business expansion/growth/new technology.
TimesJobs RecruiteX is a monthly recruitment index that records the demand and supply of talent. Overall, August 2019 noted 11% growth in Y-o-Y analysis of talent demand.
Commenting on this, Sanjay Goyal, Business Head, TimesJobs & TechGig said, “This month FMCG sector noted the highest growth in talent demand, and work-experience wise senior professionals with 20+ work experience registered the highest growth too. Co-relating these facts, we can conclude that most businesses are gearing up for the impending festive season and organisations are looking to strengthen their leadership teams. This, and other factors, have pushed senior-level hiring at India Inc.”
Highlights of TimesJobs RecruiteX August 2019 edition are:
Consumer-led sectors drive hiring
Among the top 10 sectors, hiring is up in consumer-driven sectors including consumer durables, FMCG and retail as the festive wave has begun.
Consumer Durables/FMCG – 18%
Retail – 15%
Construction – 11%
Pharma professionals in demand
Demand for Biotechnology/pharmaceutical professionals clocked double-digit growth and media professionals made to the top 10 list for the first time in 2019.
BioTechnology/ Pharmaceuticals – 14%
Engineering – 10%
Entertainment/ Media/ Journalism – 9%
Pune topped the demand chart
Among the top 10 locations, Pune recorded the highest demand. None of the metros made to the top three spots in August’2019
Pune – 22%
Indore – 10%
Chandigarh – 5%
CXOs in demand
Senior professionals with 20+ work experience noted 17% growth in M-o-M comparison of talent demand in August 2019
Professionals with 20+ work experience - 17%
Professionals with 10-20 years of work experience - 6%
Professionals with less 2 years of work experience - 3%