The number of online job postings has seen a rise in May 2021 as compared to May 2020. Last month, a total of 56 per cent of industries exceeded online hiring demand. There has been a 66 per cent growth in May 2021 in the hiring of the top management level professionals with experience of 16 or more years, the Monster Employment Index revealed. Though there was a decline in the job postings in April 2021 due to the second wave, there has been an increase of 4 per cent in overall job postings in comparison with 1 per cent in May 2020.
In May 2021, IT (hardware and software) hiring witnessed a growth of 67 per cent in Bengaluru and 49 per cent in Hyderabad. There are several other industries that showed year-on-year (May 2020 vs May 2021) growth in hiring across the key cities such as banking/financial services and insurance.
Software, hardware and telecom indicated a growth across all key cities such as Bengaluru with the growth of 79 per cent, Hyderabad (62 per cent) and Chennai (50 per cent).
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Month-on-month (May 2021 vs April 2021) growth/decline: 45 per cent of the industries indicated positive month-on-month (May 2021 vs April 2021) growth in job postings. Retail recorded a 24 per cent increase, home appliances (13 per cent), and Telecom/ISP with 10 per cent shows the highest growth in the job postings. Other industries that are doing well in comparison to last month include office equipment/automation, healthcare, biotechnology, life sciences, and pharmaceuticals.
The industries that witnessed a decline in job postings are travel and tourism with a decline of 13 per cent, import/export with 11 per cent, and printing/ packaging with 8 per cent.
The growth of hiring in industries by 56 per cent (year-on-year) indicates that now companies and employees are prepared better to face the challenges posed by the pandemic as compared to the last year when everything was new and fresh. The industries like IT, with 29 per cent, Logistic, Courier/Freight/Transportation with 25 per cent, and Telecom/ISP with 23 per cent, shows the highest growth rate in the job postings.
The industries that witnessed a decline in job postings are travel and tourism with 49 per cent decline, education with 31 per cent, engineering, cement, construction, iron/steel with 20 per cent. They have indicated a decline in hiring activities as well.
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There has been an increase in hiring for job posting for top management roles by 20 per cent, mid-senior professional roles, and intermediate roles by 1 per cent each, whereas demand for senior management professional roles remained neutral at 0 per cent. Only entry-level job posting roles saw a decline in demand by 2 per cent.
For senior management professional roles with experience of 11 to 15 years, mid-senior professionals with experience of 7 to 10 years, and intermediate roles with experience of 4 to 6 years saw an increase of 14 per cent, 20 per cent, and 13 per cent respectively. whereas, for entry-level job postings that require experience of 0 to 3 years, there is a decline of 11 per cent.