Talent Demand Tanks in Most Sectors in June 2020, Green Shoots in BPO, Health & Auto: TimesJobs RecruiteX June’20

Highlights

-        Retail, BFSI shed most talent demand in June 2020 M-o-M study 

-        Talent demand picked up in BPO, Health & Automobiles in June 2020 

-        In Y-o-Y analysis, the demand for talent remained same in June’20 and June’19

 

The TimesJobs RecruiteX, monthly talent demand index, marks a 4% growth in talent demand in June’20 (89) over May’20 (85). However, the demand in high-volume sectors including IT, BFSI and Retail records a steep fall. The Y-o-Y analysis showed that the talent demand index for June’19 (89) and June’20 (89) was the same. 

M-o-M talent demand trends: The growth in demand index is contributed by Automobiles (17%), Healthcare (16%) and BPO (14%) sectors who are re-hauling the business post the Unlock 1.0. With the Government relaxing lockdown norms, companies in these sectors are eyeing growth hacks by customising their offerings in the changing business scenario. 

Q-o-Q talent demand trends: The Q-o-Q analysis shows that demand for talent in IT and Retail sectors witnessed growth in AMJ’20 over JFM’20. Both, these sectors witnessed double-digit growth. Talent demand index stood at 370 points in AMJ’20 over 338 points in JFM’20, a 9% growth. The Retail sector witnessed a 30% growth in AMJ’20 in comparison with JFM’20. 

Y-o-Y talent demand trends: The Y-o-Y analysis for talent demand shows no growth, or loss from June’19 to June’20.  The Consumer Durables sector showed a growth of about 30% in Y-o-Y talent demand analysis, followed by Healthcare. The BPO sector saw the steepest fall of (-34%) in talent demand in the yearly comparison.

Commenting on the findings of RecruiteX June 2020, Sanjay Goyal, Business Head, TimesJobs and TechGig said, “The findings of RecruiteX June 2020 are a silver lining in the present scenario. The rise in BPO, Healthcare and Automobile’s talent demand hints that companies are striving hard to get back to normalcy after the Unlock 1.0. Not just the M-o-M analysis, but even the Q-o-Q comparison (AMJ’20 v/s JFM’20) has shown growth, with a double-digit hike in the IT and Retail sectors”.   

Here are the major findings of the RecruiteX June 2020 edition:

Industry-wise

Sectors which gained talent demand:  

- Automobiles: (17%)

- Healthcare: (16%)

- BPO: (14%)

Sectors with steepest loss in talent demand: 

- Retail: (-13%)

- IT/Telecom: (-6%)

- BFSI: (-2%)

Functional areas: 

Functional areas which gained talent demand:  

- Doctors/Nurses/Medical Professional: (20%) 

- Logistics/Supply Chain Management/ Procurement: (10%)

- Engineering: (5%)

 Functional areas with steepest loss in talent demand:  

- IT/Telecom: (-10%)

- Sales/Business Development: (-3%)

Location-wise: 

Cities which gained talent demand:  

- Indore: (4%)

 - Ahmedabad: (2%)

 - Hyderabad/Secunderabad: (2%)

Cities with steepest loss in talent demand:  

- Bengaluru: (-18%)

- Jaipur: (-6%)

 - Chennai: (-5%) 

Work experience-wise: 

 Work experience category which gained talent demand:  

- Over 20+ years of work experience: (6%)

- 10-20 years: (5%)

- 2-5 years: No gain, no loss 

Work experience category with the steepest loss in talent demand:  

- Freshers and people with less 2 years of work experience: (-13%)