{"id":40691,"date":"2024-08-14T13:55:55","date_gmt":"2024-08-14T08:25:55","guid":{"rendered":"https:\/\/www.foundit.in\/career-advice\/?p=40691"},"modified":"2024-09-18T16:33:45","modified_gmt":"2024-09-18T11:03:45","slug":"foundit-insights-tracker-july-2024","status":"publish","type":"post","link":"https:\/\/www.foundit.in\/career-advice\/foundit-insights-tracker-july-2024\/","title":{"rendered":"July 2024 Hiring Trends with the foundit Insights Tracker: Continued Growth Amidst Sectoral Shifts\u00a0"},"content":{"rendered":"\n<p>The July 2024 edition of the foundit Insights Tracker offers a detailed analysis of the hiring trends in India, marking a period of steady growth with a focus on emerging sectors.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Despite a slight month-on-month dip, the job market continues to show resilience and expansion, particularly in key industries such as IT and Manufacturing. Here\u2019s an overview of the key highlights from the report.<\/p>\n\n\n\n<div style=\"text-align: center;\">\n<iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/presentation\/d\/1Ggd7HqZYpVmbhipl0CHXjDWiUn-RcFIfQwn1mXGu2LY\/embed?start=true&#038;loop=true&#038;delayms=3000\" frameborder=\"0\" width=\"640\" height=\"389\" allowfullscreen=\"true\" mozallowfullscreen=\"true\" webkitallowfullscreen=\"true\"><\/iframe>\n<\/div>\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\/08\/Insights-Tracker-July.pptx-1.pdf\" target=\"_blank\" rel=\"noopener\">Download July 2024 fit Report (India) PDF<\/a>\n<\/div>\n\n\n\n<p><strong>Positive Hiring Outlook<\/strong><em>&nbsp;<\/em><\/p>\n\n\n\n<p>In July 2024, India\u2019s e-recruitment landscape saw an 11% year-on-year increase, reflecting strong hiring activity across various sectors. Although there was a marginal 1% month-on-month decline, the overall trend remains positive, with hiring demand growing consistently over the last six months by 11%.&nbsp;&nbsp;<\/p>\n\n\n\n<p>This indicates sustained economic recovery and growth across the job market.&nbsp;<\/p>\n\n\n\n<p><strong>Industry Hiring Trends<\/strong><em>&nbsp;<\/em><\/p>\n\n\n\n<p>July witnessed significant hiring growth in several industries, contributing to the positive market outlook.&nbsp;<br><br>The Consumer Electronics sector led the charge with a robust 45% year-on-year growth, driven by advancements in the semiconductor industry and the adoption of AI, IoT, and 5G technologies.&nbsp;<br><br>Similarly, the Manufacturing sector continued its strong performance with a 43% year-on-year increase.&nbsp;<\/p>\n\n\n\n<p>Other key industries include:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Real Estate:<\/strong> +32% YoY, driven by the demand for flexible spaces and increased investor confidence.&nbsp;<\/li>\n\n\n\n<li><a href=\"https:\/\/www.foundit.in\/search\/construction-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Construction<\/strong><\/a><strong> &amp; <\/strong><a href=\"https:\/\/www.foundit.in\/search\/engineering-jobs-in-delhi-ncr\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Engineering<\/strong><\/a><strong>:<\/strong> +29% YoY, with substantial growth in green initiatives.&nbsp;<\/li>\n\n\n\n<li><strong>Healthcare &amp; <\/strong><a href=\"https:\/\/www.foundit.in\/search\/pharmaceutical-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Pharmaceuticals<\/strong><\/a><strong>:<\/strong> +19% YoY, reflecting the rising demand for healthcare services.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>These industries highlight the ongoing transformation in the job market, with a strong emphasis on technology, sustainability, and healthcare.&nbsp;<\/p>\n\n\n\n<p><strong>Functional Hiring Trends<\/strong><em>&nbsp;<\/em><\/p>\n\n\n\n<p>The report also sheds light on the functional areas experiencing the highest demand. Hospitality roles saw a 28% year-on-year increase, driven by the expansion of new hotel properties and airport operations. Similarly, Marketing &amp; Communications roles grew by 24% YoY, reflecting the importance of digital marketing in today\u2019s business landscape.&nbsp;<\/p>\n\n\n\n<p>On the other hand, Sales &amp; Business Development roles saw an 8% decline, possibly due to the increasing adoption of digital sales platforms and automation tools.&nbsp;<\/p>\n\n\n\n<p><strong>City-wise Hiring Trends<\/strong><em>&nbsp;<\/em><\/p>\n\n\n\n<p>Geographically, Bengaluru and Coimbatore emerged as the top cities with the highest hiring increases, both recording a 24% year-on-year growth. Jaipur, Hyderabad, and Delhi-NCR also showed strong gains, highlighting expanding opportunities in both metropolitan and tier-2 cities.&nbsp;<\/p>\n\n\n\n<p><strong>Experience Level Trends<\/strong><em>&nbsp;<\/em><\/p>\n\n\n\n<p>The demand for professionals varied across experience levels. Notably, there was a 13% year-on-year increase in hiring for entry-level roles (0-3 years of experience), while roles requiring 16+ years of experience saw a 6% growth. Conversely, senior-level roles (11-15 years) registered a 3% decline, indicating a potential shift in organisational hierarchies and demand for specific skill sets.&nbsp;<\/p>\n\n\n\n<p><strong>Salary Trends<\/strong><em>&nbsp;<\/em><\/p>\n\n\n\n<p>Salary growth has been positive across most sectors, with the IT &#8211; Software &amp; Services sector offering the highest salary packages. Notable increases were observed in the Retail sector, particularly for entry-level professionals, which saw a 15% year-on-year salary growth.&nbsp;<\/p>\n\n\n\n<p><strong>About the foundit Insights Tracker<\/strong><em>&nbsp;<\/em><\/p>\n\n\n\n<p>The foundit Insights Tracker (fit), formerly known as the Monster Employment Index, continues to be a comprehensive monthly report on hiring trends in India. It provides a detailed analysis of recruitment activities across various sectors, offering valuable insights into the evolving job market.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The July 2024 edition of the foundit Insights Tracker offers a detailed analysis of the hiring trends in India, marking a period of steady growth with a focus on emerging sectors.&nbsp;&nbsp; Despite a slight month-on-month dip, the job market continues to show resilience and expansion, particularly in key industries such as IT and Manufacturing. Here\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":41953,"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-40691","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\/40691","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=40691"}],"version-history":[{"count":4,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/40691\/revisions"}],"predecessor-version":[{"id":41841,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/posts\/40691\/revisions\/41841"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/media\/41953"}],"wp:attachment":[{"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/media?parent=40691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/categories?post=40691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foundit.in\/career-advice\/wp-json\/wp\/v2\/tags?post=40691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}