Hiring momentum has further picked up pace in October with full-time jobs accounting for 95% of the placements. The number of applicants accepting jobs rose nearly 100,000 to hit 2.75 lakh, a sharp rise of 56% over September listings. At 1.05 lakh openings, the software sector made up for 38% of the active openings, data compiled by Bengaluru-based specialist staffing firm Xpheno, shows.
Interestingly, the contribution from the top five metros shrank to 34% from 51% in September. “With extended WFH models becoming a norm at many large enterprises, hiring is gradually shifting to non-metro regions and Tier 2 Towns and cities. The work from home advantages and disadvantages has be looked upon,” Kamal Karanth, co-founder, Xpheno, observed.
Full-time remote job openings also grew to 3,000 in October from 2,000 in September, as more companies could be embracing work-from-home as a permanent feature.
Nicolas Dumolin, MD, Michael Page India, had recently told FE employment levels have moved back all the way to 75% of pre-Covid levels as companies are re-aligning themselves with the new normal and there has been a need for new talent. Also, companies have understood the current conditions will continue for some time. “There’s less uncertainty and that has led to more hiring,” Dumoulin explained.
Contract jobs are also picking up pace which is a sign that companies are preparing for managing sudden business spikes. Contractual hiring generally increases between July and September ahead of the festive season, lasts till December and starts to taper down post that.
Entry-level and junior level openings grew in October to reach the 100,000 mark against 62,000 in September. Over 38% of active openings are for the entry-level opportunities followed by mid-junior and mid-senior categories at 30% and 12% respectively. Senior-level openings also recovered; they had registered a 38% dip in September.
Karanth said the change in the mix of the job levels is also an indication of a recovery of business activity and thereby the hiring activity across levels. “Enterprises that had used the slowdown phase to shed some flab at the top are reinvesting in hiring across levels,” Karanth said.