In the first half of 2024, there has been a 6 per cent increase in freshers hiring in India, which stood at 68 per cent compared to the first half of 2023 at 62 per cent. Additionally, the overall hiring intent for all categories of job seekers has seen a slight rise to 79.3 per cent, revealing learning and employability solutions provider firm TeamLease EdTech’s Career Outlook Report HY1 (January – June 2024). This sustained growth indicates a positive job market outlook in the upcoming months for freshers.
According to the report, the top three industries showing the highest hiring intent for freshers are E-commerce and Technology Start-ups at 55 per cent, Engineering and Infrastructure at 53 per cent, and Telecommunications at 50 per cent. The IT industry has experienced an overall decrease in the intention to hire freshers compared to the second half of 2023 (42 per cent in the first half of 2024 vs 49 per cent in the second half of 2023). Additionally, sectors like Media and Entertainment have witnessed a decrease of 3 per cent. Travel and Hospitality have seen a 4 per cent increase (in the first half of 2024 compared to the second half of 2023).
Profiles like Graphic Designers, Legal Associates, Chemical Engineers, and Digital Marketing Executives are highly sought after across various industries for freshers. In terms of cities, Bangalore takes the lead with a hiring intent of 69 per cent, followed by Mumbai at 58 per cent and Chennai at 51 per cent. Delhi stands at 45 per cent, showing a 2 per cent increase from the second half of 2023. However, the demand for emerging talent currently sits at 68 per cent, marking a slight increase of 3 per cent for the current first half of 2024 compared to the second half of 2023, states the report.
This report delves into the impact of Generative AI (GenAI) on the job landscape for freshers. It emphasises that instead of being outright replaced, jobs are evolving through collaboration between humans and AI. Freshers must prioritise continuous learning and adaptability as they enter an era of ongoing technological advancement driven by Generative AI. Roles such as Software Developers, Technical Writers, Legal Assistants, Market Research Analysts, and Graphic Designers are expected to undergo transformation. Freshers must actively upgrade their skills and be willing to work alongside Generative AI to remain relevant and leverage its potential. The survey encompasses 526 small, medium, and large companies spanning 18 industries across India. The coverage includes 14 geographical areas, including metros, tier-1, and tier-2 cities, reflecting the hiring sentiment.
Speaking on the report’s findings, Shantanu Rooj, founder and CEO of TeamLease EdTech, said, “Employers played the conservative card for some time now; hiring had slowed down amidst global turmoil. However, our recent survey reveals employer confidence in India’s growth story. Organisation are more confident about their future paths, which reflects in their high confidence to recruit fresh talent and strengthen their talent pool.”
“It’s interesting to see industries like Manufacturing, Engineering and Infrastructure, and Construction and Real Estate prioritising Apprenticeship to locate the most suitable talents. By proactively hiring degree apprentices, companies can systematically address persistent skill gaps, nurture specialised talent, and strengthen their talent pipelines tailored to precise industry requirements. This bodes well for apprentices as they can ‘learn and earn’ simultaneously, gaining academic knowledge and practical work experience, making them highly employable,” added Neeti Sharma, Co-Founder and President of TeamLease EdTech.
Keeping the focus on GenAI, Jaideep Kewalramani, Head of Employability Business and COO of TeamLease EdTech, said, “As generative AI progressively transforms and reshapes industries, its impact is also reflected in the evolution of job roles and skills demands on freshers entering the workforce. With generative AI automation set to transform workflows, freshers need to be prepared to collaborate effectively with AI systems. Specialised courses equipping students to leverage generative AI tools and technologies can provide new professionals with the requisite knowledge to thrive in this rapidly evolving landscape.”
Also Read: TCS COO Says Remote Work Can’t Help An Organisation Build A Great Culture: Report
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