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Record 3.2 lakh white collar job openings posted in October: Report

Record 3.2 lakh white collar job openings posted in October: Report

Record 3.2 lakh white collar job openings posted in October: Report
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By CNBCTV18.com Nov 2, 2021 7:03:17 PM IST (Published)

At present, the tech sector is driving bulk of the demand. Both current demand and future expansions are driving hiring volumes, said a report.

In a boost to hiring sentiment, a record 3.2 lakh white collar job openings were posted in October, making it the strongest in over 20 months, a report said.

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The growth was 12 percent over the previous month and 16 percent over the same period last year, a report by The Times of India, quoting specialist staffing firm Xpheno, said.
The number for active openings in October was 30 percent higher than the volume registered in pre-COVID months.
Entry-level job openings grew one percent and formed the major bulk of the overall volume at 31 percent. Mid-junior openings grew 13 percent and comprised 28 percent of the volume. Mid-senior roles saw an 11 percent increase, forming 23 percent of the volume.
Current demand and future expansions are driving the hiring volumes, Xpheno said in the report, adding that organisations were engaging in both lateral and entry-level hiring.
Lateral hiring was mostly seen in startups that are offering attractive packages to senior professionals.
“It’s not surprising to see the active job openings at an all-time high arising out of the new digital world’s pent-up demand. However, the best is yet to come,” Xpheno’s Co-Founder Kamal Karanth told TOI.
Karanth said traditional sectors such as construction, BFSI, manufacturing, hospitality and travel are yet to reach their pre-COVID peak, leaving more room for hiring.
“A higher vaccination rate would encourage previously affected sectors like hospitality and travel, construction, manufacturing and BFSI to open up further,” he said.
Multinational companies are primarily seen contributing to active jobs in the last quarter, which is otherwise considered a slow hiring season. The active and aggressive hiring funnels of MNCs give a clear indication of demand for talent in the next year.
Accenture, Wipro, Siemens, Amazon, Shell, IBM, EY, SAP, Bajaj Finserv, Oracle, JP Morgan Chase, Kyndryl, Google, Zeta, Paytm and Byju’s were employers with active openings in October. At present, the technology industry is driving the bulk of the demand, Karanth said.
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