Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

Service Sector On Hiring Spree, IT Sector Leads Way

In the previous Q2 quarter IT faced the highest level of attrition (25.23 per cent), followed by Educational Services (15.24 per cent) and Ecommerce & Allied Start-ups (14.02 per cent)

Photo Credit :

1594753287_jCFEso_images.jpg

The optimism in the services sector continues as 73 per cent of employers are ardent to increase their resource pool in this quarter, a recent report said.

TeamLease Services' Employment Outlook Report for Q3, revealed that for candidates, aspiring to secure opportunities in the services segment, the key sectors expressing a higher intent to hire are Information Technology (96 per cent), Educational Services (95 per cent), E-commerce & Allied Start-ups (92 per cent), Telecommunications (90 per cent), Retail [Essential] (79 per cent), Financial Services (78 per cent) and Logistics (75 per cent). As the demand for services has increased post the pandemic; large firms (79 per cent), medium-sized firms (45 per cent) and small firms (57 per cent) have all mustered a strong hiring intent. Organizations are largely hiring for IT, sales, and engineering roles.

Sharing his views about the industry and the report’s findings, Mayur Taday, Chief Business Officer, TeamLease Services, said, “The resurgence in the services sector post-Covid has been strong. Companies have shown a lot of optimism to increase their workforce. The festive quarter has brought positive tidings, especially for freshers and entry-level talent. Close to 74 per cent of employers are enthusiastic to hire young talent and 69 per cent to hire junior talent. For mid and senior-level talent, hiring intent stood at a moderate 48 per cent and 34 per cent, respectively."

From a location perspective; metro & tier-1 cities (95 per cent) followed by tier-II (75 per cent) lead in hiring intent. However, tier III and rural geographies still stand low on hiring intent indicating the trickle-down effect of post-pandemic services job creation is yet to gain significant traction. The locations for services-focused job roles are Bangalore (97 per cent), Chennai (90 per cent), Delhi (86 per cent), Hyderabad (82 per cent), Mumbai (79 per cent), Pune (69 per cent) and Kolkata (55 per cent). For the IT industry the top location continues to be Bangalore, Mumbai for Financial Services and Telecommunication in Delhi.

Further, according to the report, attrition stayed under control in the sector. In the previous Q2 quarter IT faced the highest level of attrition (25.23 per cent), followed by Educational Services (15.24 per cent) and Ecommerce & Allied Start-ups (14.02 per cent).


Tags assigned to this article:
service sectors