{"id":22544,"date":"2023-11-15T13:11:40","date_gmt":"2023-11-15T07:41:40","guid":{"rendered":"https:\/\/www.foundit.in\/career-advice\/?p=22544"},"modified":"2024-09-24T14:35:22","modified_gmt":"2024-09-24T09:05:22","slug":"foundit-insights-tracker-oct-2023","status":"publish","type":"post","link":"https:\/\/www.foundit.in\/career-advice\/foundit-insights-tracker-oct-2023\/","title":{"rendered":"October 2023 Hiring Trends of India with the foundit Insights Tracker\u00a0\u00a0\u00a0"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>Hiring overview<\/strong>&nbsp;<\/h2>\n\n\n\n<p>The latest figures from the foundit Insights Tracker (fit) for October 2023 indicated an overall hiring slowdown in the Indian job market. The report recorded a Month-on-Month (MoM) decrease of 1% and a Year-on-Year (YoY) dip of 3% in hiring activity.&nbsp;<\/p>\n\n\n\n<p>However, despite this general trend, certain industries continued to see growth in hiring. &nbsp;<\/p>\n\n\n\n<p>In the face of uncertainty over the past year and a deceleration in hiring in recent months, several industries &amp; functions are expected to rebound in the upcoming quarters.&nbsp;<\/p>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/presentation\/d\/e\/2PACX-1vQYhujnYgW61Rld-_EDfKr4ZzopeEH-axpYWR-_anPYRgNN_wrAFDrtVRr1FFo3iA\/embed?start=false&#038;loop=false&#038;delayms=3000\" frameborder=\"0\" width=\"640\" height=\"389\" allowfullscreen=\"true\" mozallowfullscreen=\"true\" webkitallowfullscreen=\"true\"><\/iframe>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Industry Insights<\/strong>&nbsp;<\/h2>\n\n\n\n<p><em>There was increased hiring activity in 12 out of 27 industries<\/em>&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In demand:<\/strong>&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <strong><a href=\"https:\/\/www.foundit.in\/search\/shipping-marine-jobs\" target=\"_blank\" rel=\"noopener\" title=\"Shipping\/Marine\"><span style=\"text-decoration: underline;\">Shipping\/Marine<\/span><\/a><\/strong> industry continued its upward hiring trend with <strong>12% MoM and 44% YoY growth, <\/strong>thanks to an increasing emphasis on digitisation, automation and sustainable practices.&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Hiring in the <strong><a href=\"https:\/\/www.foundit.in\/search\/travel-tourism-jobs\" target=\"_blank\" rel=\"noopener\" title=\"Travel and Tourism\"><span style=\"text-decoration: underline;\">Travel and Tourism<\/span><\/a><\/strong> industry also experienced robust growth, with <strong>30% YoY and 6% MoM<\/strong> <strong>growth.<\/strong>&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Due to the ongoing festive season, the <strong>Home Appliances<\/strong> sector saw a <strong>7% MoM hiring growth.<\/strong>&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>No movement in hiring:<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Retail, Advertising, MR, PR, &amp; IT (Hardware &amp; Software) sectors showed to change from September 2022, maintaining a steady hiring rate.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Facing challenges:<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Though BFSI indicated a 7% MoM growth in hiring, it faced a 10% YoY decrease from October 2022. Similarly, the IT sector saw an 8% YoY dip in e-recruitment.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Function Insights<\/strong>&nbsp;<\/h2>\n\n\n\n<p><strong>Six out of thirteen functions <\/strong>tracked by the foundit Insights Tracker (fit) showed upward hiring trends.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><a href=\"https:\/\/www.foundit.in\/search\/hospitality-jobs\" target=\"_blank\" rel=\"noopener\" title=\"Hospitality \"><span style=\"text-decoration: underline;\">Hospitality <\/span><\/a><\/strong>&amp; Travel led the way with a significant growth of <strong>25% YoY and 13% MoM<\/strong> in hiring.&nbsp;&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Other functions like <strong><a href=\"https:\/\/www.foundit.in\/search\/hr-admin-jobs\" target=\"_blank\" rel=\"noopener\" title=\"HR &amp; Admin\"><span style=\"text-decoration: underline;\">HR &amp; Admin<\/span><\/a><\/strong> (16%), Engineering\/Production (12%), and Healthcare (9%) also showcased positive YoY growth in hiring.&nbsp;<br>&nbsp;<\/li>\n\n\n\n<li><strong>Customer Service <\/strong>experienced the <strong>largest drop in YoY e-hiring (-22%) <\/strong>and saw no change on a MoM basis. &nbsp;<br>&nbsp;<\/li>\n\n\n\n<li>Additionally, <strong><a href=\"https:\/\/www.foundit.in\/search\/finance-accounts-jobs\" target=\"_blank\" rel=\"noopener\" title=\"Finance &amp; Accounts\"><span style=\"text-decoration: underline;\">Finance &amp; Accounts<\/span><\/a><\/strong> witnessed a <strong>10% YoY drop in hiring and a 2% MoM dip.<\/strong>&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>City-wise Hiring Trends<\/strong>&nbsp;<\/h2>\n\n\n\n<p>While Metropolitan cities outperformed Tier-2 cities in MoM hiring, both groups experienced a decrease \u2014 Metros (-1%) and Tier-2 (-2%) cities.&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Kolkata <\/strong>led with a <strong>17% increase in YoY e-recruitment<\/strong>, followed by Vadodara (+11%) and Ahmedabad (+7%).&nbsp;&nbsp;<\/li>\n\n\n\n<li><strong>Pune faced the highest YoY hiring decline at \u201314%<\/strong>. Other cities that experienced a decrease in hiring include Chandigarh (-13%), Bangalore (-10%), Coimbatore (-7%), Hyderabad (-6%), and Chennai (-3%).&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Festive Hiring Trends<\/strong>&nbsp;<\/h2>\n\n\n\n<p>With the festive season approaching, the Retail industry experienced a remarkable surge in online &amp; offline due to the growing number of customers.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The foundit Insights Tracker noted a <strong>9% increase in hiring over the last three months<\/strong> and a <strong>20% jump in job opportunities <\/strong>as compared to October 2022.&nbsp;<\/p>\n\n\n\n<p>The growth is primarily due to the digital transformation among traditional offline retailers, who are adapting to market changes and meeting rising talent requirements.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Experience-level Trend<\/strong>&nbsp;<\/h2>\n\n\n\n<p>Jobseekers with 0-3 years of experience were presented with the most opportunities, reflecting the industry&#8217;s focus on recruiting fresh talent in both offline and online retail sectors.&nbsp;<\/p>\n\n\n\n<div style=\"text-align: center;\">\n<a style=\"display: inline-block;background-color: #7900c6;color: #fff;text-align: center;padding: 10px 20px;text-decoration: none;font-size: 18px;border-radius: 4px;font-weight: bold;\" href=\"https:\/\/media.foundit.in\/career-advice\/wp-content\/uploads\/2023\/11\/fit-Report-October-2023_pdf.pdf\" target=\"_blank\" rel=\"noopener\">Download Oct 2023 fit Report (India) PDF<\/a>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About the foundit Insights Tracker&nbsp;&nbsp;<\/strong>&nbsp;<\/h2>\n\n\n\n<p>The foundit Insights Tracker (fit), previously known as the Monster Employment Index, is foundit&#8217;s authoritative monthly report on hiring trends in India. It analyses millions of jobs to provide a panoramic view of recruitment activity of job market in India and delves into the hiring trends in different sectors.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hiring overview&nbsp; The latest figures from the foundit Insights Tracker (fit) for October 2023 indicated an overall hiring slowdown in the Indian job market. The report recorded a Month-on-Month (MoM) decrease of 1% and a Year-on-Year (YoY) dip of 3% in hiring activity.&nbsp; However, despite this general trend, certain industries continued to see growth in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":42099,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"post-22544","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-insights-tracker"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/22544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/comments?post=22544"}],"version-history":[{"count":4,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/22544\/revisions"}],"predecessor-version":[{"id":42101,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/22544\/revisions\/42101"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/media\/42099"}],"wp:attachment":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/media?parent=22544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/categories?post=22544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/tags?post=22544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}