Hiring intent for freshers improves 6%, but IT and Media see dip: Teamlease

Hiring trends 2024: There is an increase of 6 per cent in the first half (January to June) of 2024 in fresher hiring in India, signalling a positive job market for freshers in India, according to staffing company Teamlease.

As per the Career Outlook Report by TeamLease EdTech, 68 per cent of companies are looking to hire in H12024, compared to 62 per cent in the same period last year.

The survey covers 526 small, medium, and large companies across 18 industries across India, and is spread across 14 geographical areas including metros, tier-1 and tier-2 cities, reflecting the hiring sentiment.

The overall hiring intent for all categories of job seekers has also risen marginally to 79.3 per cent, as per the 58-page report.

Sectors with the highest demand

Top three industries which emerged with the highest hiring intent for freshers include startups in e-commerce and technology at 55 per cent, followed by engineering and infrastructure at 53 per cent, and telecommunications at 50 per cent. Hospitality and travel have seen a 4 per cent increase over the one-year period.

Speaking on the trends, Neeti Sharma, Co-Founder and President of TeamLease EdTech said “It's interesting to see industries like Manufacturing, Engineering & 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, Sharma added.

Roles of graphic designers, legal associates, chemical engineers and digital marketing executives are in high demand across industries for freshers, as per the report.

In contrast, IT and media-entertainment are seeing an overall decrease in the intent to hire freshers. While IT sees a 7 per cent decline over the 6-month period of HY2'2023 and HY1'2024, media and entertainment saw a 3 per cent decline in the same period.  

City Trends 

Bengaluru emerged as the leader in hiring intent at 69 per cent followed by Mumbai at 58 per cent and Chennai at 51 per cent. The national capital territory of Delhi is at 45 per cent, up 2 per cent from HY2 2023. 

The demand for newer talent is marginally up by 3 per cent, reaching to 68 per cent for the Jan-Jun 2024 period.

Shantanu Rooj, Founder and CEO, TeamLease EdTech, said, “Employers played the conservative card for sometime now; hiring had slowed down amidst global turmoil. However, our recent survey reveals employer confidence in India’s growth story." 

Organisations are more confident about their future paths, which reflects in their high confidence to recruit fresh talent and strengthen their talent pool, Rooj added. 

Impact of GenAI

Amid the anxiety of AI replacing mundane roles and redundant tasks, the report suggests jobs are evolving through human-AI collaboration rather than outright replacemeny of talent. Roles such as software developers, technical writers, legal assistants, market research analysts and graphic designers are expected to be transformed by the advent of generative technologies.

Jaideep Kewalramani, Head of Employability Business and COO of TeamLease EdTech said, “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, he added.