Govt, PSUs & Defence Sector Witness 14% Upsurge In Hiring

According to Foundit Insights Tracker (fit), the government, Public Sector Undertakings (PSUs), and defence industries saw the greatest increase in job postings in November, with a 14 per cent month-on-month (MoM) increase.

Moreover, hiring in the office equipment and automation sector increased by 4 per cent during this time period. This increase can be attributed to the growing demand for workforce skills that involve interacting with increasingly intelligent machines that incorporate technologies like artificial intelligence (AI) and the Internet of Things (IoT).

The retail sector hired 3 per cent more than it did in October 2023, while the healthcare/pharmaceuticals industries hired 2 per cent more. According to Foundit, the increase in hiring in the retail industry can be attributed to seasonal plans that reflect modest temporary employment goals, resulting in lower unemployment levels during the holiday season.

“While the overall hiring activity has been subdued (-2 percent), our economic prospects are bright and resilient against global headwinds. We have noticed that talent availability in tier 2 cities allows multinational companies, both services and manufacturing firms, to set up in more cost-effective destinations,” said Sekhar Garisa, CEO of Foundit. 

With a 6 per cent increase in online hiring activity, job roles in purchasing, logistics, and supply chain topped the list of job functions. The supply chain management field is expected to grow and create more job opportunities as more multinational companies establish operations in India.

Furthermore, demand for expertise in financial analysis, risk management, compliance, taxation, and knowledge of evolving technologies such as data analytics and AI in finance increased by 5 per cent. Professionals with a mix of financial and technological knowledge are in high demand. This rise reflects the industry's growing reliance on professionals who can navigate the volatile terrain of digital marketing and communication strategies.

Hiring for engineering/production positions fell by 5 per cent, followed by senior management positions (4 per cent), sales and development positions (4 per cent), and customer service positions (4 per cent). The demand for marketing and communications jobs, as well as software, hardware, and telecommunications jobs, was moderate this month.