Bengaluru leads the way as the top Tier-1 city for hiring across most industries and levels of experience, reveals a survey that provides hiring insights across six key industries including banking, financial services and insurance (BFSI); manufacturing and automotive; information technology (IT); pharma, healthcare and life-sciences (PHL), retail, FMCG & FMCD and energy and utilities.
The job market in the BFSI, manufacturing, IT, and PHL sectors shows signs of recovery, as indicated by a rise in the total number of job openings from March to August 2024, according to the second edition of the Randstad Talent Insights Report 2024 shared exclusively with ET. It draws on Randstad data in the six-month period of March–August 2024
“India has solidly emerged as a powerhouse across these six key industries— and across a comprehensive range of locations, experience levels and skills. The country’s talent has significantly contributed to knowledge-based industries worldwide — both in the skills and roles that take centre stage today, and in emerging skills across industries,” said Viswanath PS, MD & CEO of Randstad India, a talent company.
In IT, Bengaluru accounted for 31.53% of talent demand at the junior level, 37.51% at middle and 31.90% at senior levels. For BFSI, the corresponding figures are 24.62% (junior), 31.66% (middle) and 27.15% (senior), while for manufacturing & automotive, it’s 26.47% (junior), 34.15% (middle) and 31.26% (senior). In retail, FMCG & FMCG, demand is 27.72%, 38.99% and 24.35% at junior, mid and senior levels respectively.
Bengaluru also shows a strong share of demand to rank first in the junior and middle level in the PHL sector (21.77% and 29.59%, respectively) — and leads in junior level demand (23.45%) in the energy and utilities industry.
Both Tier-1 and Tier-2 cities maintain a high level of demand at the junior level. Among Tier-1 cities, there is a significant increase in middle-level hiring in Mumbai for energy & utilities, and in Chennai for the retail and energy & utilities. In the senior level, Pune for manufacturing & automotive and Hyderabad for PHL show a significant demand.
There has been a healthy increase in share of demand for middle level talent over the previous 6-month period in Tier-1 and Tier-2 cities in different sectors.
Retail, FMCG & FMCD, PHL and BFSI were the top three industries that hired the highest percentage of freshers/juniors in Tier-1 cities. In Tier-2 cities, BFSI, IT and retail, FMCG & FMCD took the lead in junior level hiring.
“This report also reflects the growth of various Tier-2 cities as key players in the nation’s economic expansion and talent growth. This growth is underpinned by a combination of factors — an expanding pool of skilled talent, government-backed incentives for regional development, and the increasing localization of industries to optimize operational costs,” Viswanath added.
The Randstad India Talent Insights Report 2024 (Edition 2) analyses trends across eight Tier-1 cities, 22 Tier-2 cities, and more than 1,00,000 jobs of different experience levels.
Among Tier-1 cities, Hyderabad emerges as a strong hiring hotspot in the PHL and IT sectors at all levels of hiring. In PHL, it has more-than-doubled its share of hiring over the last six months to rank first in the senior level (39.94%).
Mumbai maintains its position as a strong Tier-1 talent hotspot at all levels for the BFSI and energy & utilities industries. Delhi-NCR (among Tier-1 cities), ranks among the top 3 for talent demand at different levels in the PHL, retail, FMCG & FMCG, PHL and BFSI sectors
Among Tier-2 cities, Jaipur is the leading hiring hub across all levels in the retail, FMCG and FMCD industries. It is also the leading junior talent hotspot for BFSI, manufacturing & automotive, and energy & utilities industries; and No 1 in middle level talent demand for BFSI
Vadodara has risen to be a leading senior-level hiring hotspot among Tier-2 cities for the energy & utilities, PHL and automotive & manufacturing industries.
