{"id":34040,"date":"2024-02-05T16:53:18","date_gmt":"2024-02-05T11:23:18","guid":{"rendered":"https:\/\/www.foundit.in\/career-advice\/?p=34040"},"modified":"2024-09-24T14:35:02","modified_gmt":"2024-09-24T09:05:02","slug":"foundit-insights-tracker-jan-2024","status":"publish","type":"post","link":"https:\/\/www.foundit.in\/career-advice\/foundit-insights-tracker-jan-2024\/","title":{"rendered":"January &#8217;24 Hiring Trends in India: Navigating the Evolving Job Market\u00a0"},"content":{"rendered":"\n<p>The foundit Insights Tracker (FIT) report for January 2024 saw a notable 5% decrease in online hiring activities compared to January 2023. Despite this year-over-year decrease, the past three months have shown a promising 5% increase, with a 3% increase month-on-month, hinting at an underlying positive momentum in the <a href=\"https:\/\/www.foundit.in\/career-advice\/6-tips-to-search-for-a-job-in-an-uncertain-job-market-4\/\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>job market<\/strong><\/a>.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Month-on-Month Resilience and Growth<\/strong>&nbsp;<\/h2>\n\n\n\n<p>January&#8217;s insights reveal a rejuvenation in specific sectors and functions, underscoring a resilient and adaptive employment landscape. &nbsp;<\/p>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/presentation\/d\/e\/2PACX-1vQJz2iVPS-Jbl1n7zJGQ-JLwKVDpyCvFJu7AduNjy0CUSpWDKiF_EUIiDVjUX-AkHEkUNI6FrEhycgq\/embed?start=true&#038;loop=true&#038;delayms=3000\" frameborder=\"0\" width=\"960\" height=\"569\" allowfullscreen=\"true\" mozallowfullscreen=\"true\" webkitallowfullscreen=\"true\"><\/iframe>\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\/2024\/02\/fit_INDIA_-Jan24-1.pdf\" target=\"_blank\" rel=\"noopener\">Download January 2024 fit Report (India) PDF<\/a>\n<\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.foundit.in\/search\/marketing-communications-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Marketing &amp; Communications<\/strong><\/a> roles surged by 7%, indicating a robust demand for digital marketing and analytics expertise. This is particularly pronounced in Delhi\/NCR, which experienced a significant 5% increase in such roles. &nbsp;<\/li>\n\n\n\n<li>Legal professions also saw a 7% rise, especially in Mergers and Acquisitions advisory, reflecting the sector&#8217;s vibrant activity.&nbsp;<\/li>\n\n\n\n<li><a href=\"https:\/\/www.foundit.in\/search\/sales-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Sales<\/strong><\/a> &amp; <a href=\"https:\/\/www.foundit.in\/search\/business-development-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Business Development<\/strong><\/a>, <a href=\"https:\/\/www.foundit.in\/search\/finance-accounts-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Finance &amp; Accounts<\/strong><\/a>, and HR &amp; Admin functions recorded modest growths of 2% and 1% respectively, showcasing steady demand across these essential business operations. &nbsp;<\/li>\n\n\n\n<li>However, the Software, Hardware, and Telecom sector remained static, suggesting a phase of consolidation before future growth.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Industry-Specific Trends Highlight Sectoral Revival (MoM figures) <\/strong>&nbsp;<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.foundit.in\/search\/travel-tourism-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Travel &amp; Tourism<\/strong><\/a> sector witnessed a 6% increase, possibly buoyed by the resurgence of global and domestic travel. &nbsp;<\/li>\n\n\n\n<li>Similarly, the <a href=\"https:\/\/www.foundit.in\/search\/bfsi-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>BFSI<\/strong><\/a>, Logistics, Telecom\/ISP, and <a href=\"https:\/\/www.foundit.in\/search\/real-estate-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Real Estate<\/strong><\/a> sectors each recorded growth, with a 5% increase in hiring activities, indicating sectoral recoveries and expansions. &nbsp;<\/li>\n\n\n\n<li><a href=\"https:\/\/www.foundit.in\/search\/advertising-jobs-in-india\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Advertising<\/strong><\/a>, MR &amp; PR sectors also enjoyed a 4% uplift, aligning with the increased demand for marketing and communication roles.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>The <a href=\"https:\/\/www.foundit.in\/search\/telecom-isp-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Telecom\/ISP<\/strong><\/a> sector showcased significant expansion, driven by the adoption of Generative AI, <a href=\"https:\/\/www.foundit.in\/search\/fintech-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>FinTech<\/strong><\/a> innovations, and enhanced cybersecurity measures. This diversification is likely to fuel further growth and innovation within the sector.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Annual Hiring Trends in India (Industry) <\/strong>&nbsp;<\/h2>\n\n\n\n<p><strong>In Demand: <\/strong>Travel &amp; Tourism (+21%), Automation (+21%), Retail (+20%) and Advertising, MR, PR (+18%) showed positive annual growth &nbsp;<\/p>\n\n\n\n<p><strong>Holding Steady:<\/strong> Manufacturing (+4%), and BPO saw steady growth&nbsp;<\/p>\n\n\n\n<p><strong>In Decline: <\/strong>Telecom (-10%), IT \u2013 Hardware, Software (-10%) saw negative annual growth &nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Annual Hiring Trends in India (Function)<\/strong>&nbsp;<\/h2>\n\n\n\n<p><strong>In demand: <\/strong>Hospitality &amp; Travel (+24%), Healthcare (+7%) Marketing &amp; Communications (+6%) saw biggest YoY growth&nbsp;<\/p>\n\n\n\n<p><strong>Holding steady: <\/strong>Legal (+1%), HR &amp; Admin (-3%) and Engineering (-1%) held steady &nbsp;<\/p>\n\n\n\n<p><strong>In Decline: <\/strong>Customer Service (-25%), Sales &amp; BD (-10%) and Finance (-10%) saw the biggest declines.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Work Model Trends <\/strong>&nbsp;<\/h2>\n\n\n\n<p>e-recruitment activity has seen an uptick in 8 out of the 13 cities monitored, reflecting a broader accessibility to employment options across the country. This potentially aligns with the growing trend of remote and hybrid working models.&nbsp;<\/p>\n\n\n\n<p class=\"has-background\" style=\"background-color:#abb7c245\"><em><strong>Data from the foundit insights tracker indicates that despite being in an \u2018employer-centric\u2019 market, employees still choose flexibility and better work-life balance. &nbsp;<\/strong><\/em><\/p>\n\n\n\n<p>The past three years have shown a declining trend in types of jobs available. Of all jobs available, <strong>\u2018Hybrid Work\u2019 accounts for just 21%<\/strong>, while <strong>\u2018<\/strong><a href=\"https:\/\/www.foundit.in\/search\/wfh-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Work from Home<\/strong><\/a><strong>\u2019 accounts for just 9% of job openings<\/strong>. However, people seeking hybrid and remote job opportunities are 44% and 17% respectively. &nbsp;<\/p>\n\n\n\n<p>The IT sector contributes to a huge chunk (44%) of both permanent and temporary job postings online. The IT sector&#8217;s continued dominance in the remote job landscape is noteworthy, although there has been a 14% decline in such roles year-over-year. &nbsp;<\/p>\n\n\n\n<p>This shift highlights the evolving nature of work arrangements, with an increasing dialogue around workplace flexibility, including the potential adoption of a four-day workweek.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About foundit Insights Tracker<\/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>The foundit Insights Tracker (FIT) report for January 2024 saw a notable 5% decrease in online hiring activities compared to January 2023. Despite this year-over-year decrease, the past three months have shown a promising 5% increase, with a 3% increase month-on-month, hinting at an underlying positive momentum in the job market.&nbsp; Month-on-Month Resilience and Growth&nbsp; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":42097,"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-34040","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\/34040","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=34040"}],"version-history":[{"count":6,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/34040\/revisions"}],"predecessor-version":[{"id":34063,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/34040\/revisions\/34063"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/media\/42097"}],"wp:attachment":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/media?parent=34040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/categories?post=34040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/tags?post=34040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}