Talent supply for fresher roles has outpaced employers' demand in the 12-month period ending October 2021, indicating a rising talent supply in a declining job market, according to a report.
As per data findings by leading job site Indeed, the number of freshers seeking jobs (searches) has seen a 30 per cent year-on-year (YoY) increase in October 2021 compared to the same month last year. However, the data indicated that recruiter demand (job postings) has decreased by 18 per cent for the same period.
Indeed's data suggested that the demand from employers declined towards the end of the year due to consolidation of the workforce and new-year planning. The numbers could increase in the upcoming year on the back of the robust vaccination drives and India Inc's preparedness to handle the pandemic situation better.
"A similar scenario occurred in January 2021, when hiring for fresher roles increased by 34 per cent due to ease in COVID restrictions that allowed the economy to re-open after the first wave," Indeed said in a statement. While demand for non-tech roles may have taken over the tech roles, Indeed's assessment of salaries indicates that the tech roles for freshers continue to dominate salaries.
Some of the highest-paid freshers' roles are software architect, senior java developer, product manager, technical lead, senior developer and category manager. "While the country's economy is picking up momentum, recovering from the second wave of the pandemic and general boom in IT & Technology sectors, it's interesting to note that the positions are being filled slower than expected in the IT/ITeS sector," said Sashi Kumar, Head of Sales, Indeed India.
Kumar further noted that there are increasing requirements for freshers in blue-collar jobs such as delivery boys, shop floor assistants, sales personnel, mechanics and technicians. "Sectors such as e-commerce, FMCG, healthcare, and home services empowered with mass vaccinations are strengthening their workforce," Kumar said, adding that "this could have been the result of businesses pivoting to aggressive customer acquisition from stabilising the operations as they recovered from the second wave".