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Hiring trend at a 15 year high as recruiters find talent supply mismatch

Hiring trend at a 15-year high as recruiters find talent-supply mismatch

Hiring trend at a 15-year high as recruiters find talent-supply mismatch
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By Latha Venkatesh  Apr 27, 2022 12:36:47 PM IST (Published)

It is a job seeker's market right now. Employers are increasingly finding it difficult to hire and retain the right kind of talent pool. In an interview with CNBC-TV18, N Ravi Vishwanath, Group CFO, Quess Corp, Ramani Dathi, CFO, Teamlease Services, and Hitesh Oberoi, MD and CEO, Info Edge, discussed the hiring and the salary picture.

As a job seeker, opportunities in the market are currently manifold. There’s been a surge in hiring across sectors in the Indian economy as it came out of the shadows of the pandemic.

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Employees in the job market, today, have the option to shift jobs that match their salary expectations as well as work profile. Some employers are even willing to offer increased flexibility and a higher pay package to get on board the right talent, which has become increasingly difficult to find and retain.
In an interview to CNBC-TV18, Hitesh Oberoi, MD and CEO, Info Edge, highlighted that hiring trend currently is the strongest in the last 15 years.
"The job market in our view has been on a roll for the last five quarters now. Calendar Year 2020 was not a great year, but calendar year 2021 is the best we have seen in Naukri in the last 15 years," Oberoi said.
He explained there is a surge in demand for senior level talent.
"We are also seeing lately that there is a surge in demand for very senior talent, people with 15, 20, 25 years of experience because as companies set up new verticals or new businesses, they need senior management to run the show also in these verticals. So in general, there is demand across the board, across sectors," Oberoi mentioned.
Concurring with Oberoi, Ramani Dathi, CFO, Teamlease Services, further corroborated the demand picture, explaining that it is at an all-time high. She, however, pointed out that supply is limited.
"We are facing challenges in terms of supply side because demand is at all-time high, but the supply is limited. There is only a limited number of kids who come out of college every year, so this kind of the demand-supply gap will continue for some time," she said.
Meanwhile, N Ravi Vishwanath, Group CFO, Quess Corp, said that he is seeing a fairly good traction from the construction and manufacturing space.
"We are now having a fairly large traction with the construction industry. They are actually testing waters with formal players like us because they were impacted pretty badly after the first wave, when they could not get the workforce back onto the site sometime," he said.
"So, we have seen construction coming up. Manufacturing, thanks to PLI schemes is engaging in lots of discussions with us actually. It is a completely post-COVID phenomena that we are seeing, and we are expanding our footprint in construction very responsibly," said Vishwanath.
Watch the video for the full interview.
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