Indian IT Firms Hiring More Contractors, Less Full-Time Employees; Jobs Down By 34% YoY, But It’s Improving

A new report has predicted that there will be an improvement in hiring activities, especially in metro cities.

The report has been based on the job availabilities posted on the online job portal SCIKEY.

Read on to find out what the report says right here!

SCIKEY’s Report Reveals Job Postings Increased by 5% In October

The report by SCIKEY has revealed that the hiring activities in metro cities have improved significantly. Also, the report says that job postings have increased by more than 5% in October as compared to the previous month.

The report states, “There have been signs of recovery in the hiring activities in metro cities in India despite the festive season and impact of the coronavirus pandemic. There has been an uptick in hiring in the number of job postings in October by 5.55% compared to September.”

As per the report, the hiring activities were reduced by 17.6% in October on a year-on-year basis.

There also are a few specific sectors that have shown a remarkable increase in hiring in September and October. These sectors include are e-commerce, pharmaceuticals, packaging, telecom, Banking, financial services and insurance (BFSI), data analytics and consulting, IT services, renewable energy, and hospitality.

Contractual Job Postings Increased In The IT Sector

The report also states that there has been an increase in contractual job postings in the IT sector. Apparently, this has been due to the pandemic.

The report also states that job postings in the IT services segment are primarily for sales, spring, interpersonal communication, automation testing and microservices.

Also, there is an increase in the hiring activities in the telecom sector and this has been due to the work from home model that was introduced during the lockdown in India.

As per the SCIKEY Co- founder Akshay Sharma, “The hiring activities are showing signs of revival on a month-on-month basis with the country opening up sectors and companies looking to plug vulnerabilities while building deterrence. A more positive outlook in hiring is expected in the coming months.”

The second quarter of 2020 has reportedly seen a flat hiring trend and also major job losses, all because of the COVID-19 pandemic.