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Finance, HR, administrative roles most in demand in June: Monster Employment Index

Recruiters are increasingly looking for professionals in fields such as finance and accounting, human resources (HR) and administration (administration) in June this year. Hiring of finance and accounting professionals is up about 34% year-over-year (YoY) due to continued hiring in the banking, financial services and finance industry. Insurance (BFSI), according to a recent Monster Employment Index.

Hiring for HR and administration roles increased 19% year over year over the same period, as more companies realign hybrid work models and strive to deliver better employee experiences and development projects for their workforce to combat attrition. In addition, sectors such as hospitality and travel (18%), software, hardware, telecommunications (6%), customer service (3%) and marketing and communications (2%).

The sectors that have seen a drop in hiring due to their performance are engineering/production (-12%), purchasing/logistics/supply chain (-10%) and healthcare (-8%).

Sector-wise, banking, financial services and insurance (BFSI), travel and tourism and chemicals are the sectors that increased their hiring in June compared to the same period of the previous year. Job openings in the BFSI sector have seen a 28% year-on-year growth due to growing digital consumption and the need for digital transformation.

Following closely behind, job openings in the travel and tourism industry have increased by around 25% year-on-year due to the freedom to travel across the country. The chemical industry comprising sectors such as chemicals, plastics, rubber, paints, fertilizers/pesticides has seen an annual increase of up to 24% due to the increase in technological innovations and the use of chemicals in industrial operations and manufacturing.

This, in turn, has led to an increase in demand for a wider range of skills and experience. Other sectors that saw an increase in job openings in June were real estate (17%), production and manufacturing (16%), import/export (14%), BPO/ITES (12 %), telecommunications/ISP. (12%) and retail (1%).

The information technology (hardware and software) sector saw a 2% drop in hiring activity due to start-up layoffs. CEO Sekhar Garisa said: “While concerns about startup layoffs persist, it’s important to note that they represent a very small portion of overall employment and that several industries today exceeded their targets to contribute to the larger growth story of our nation.”

Other sectors like media and entertainment and engineering, cement, construction, iron/steel also saw a drop in hiring activity. Segments that have yet to recover to pre-pandemic levels include shipping/shipping (-10%), healthcare, biotech and life sciences (-4%), pharmaceuticals (-4%) and education (-4%). .

When it comes to white-collar hiring, 10 out of 13 cities showed positive demand, with Mumbai registering the peak growth at 23%. The metropolitan cities that followed Mumbai were Hyderabad (15%), Delhi-NCR (13%), Ahmedabad (11%), Pune (9%), Chennai (8%) and Bangalore (4%). Coimbatore leads the pack among non-metropolitan cities with a 19% increase in hiring.

Cities that saw a drop in hiring activity were Kolkata (-2%), Chandigarh (-5%) and Jaipur (-3%). The index said, “While most Tier 2 cities have moved closer to pre-pandemic hiring levels, demand has declined, reflecting current economic conditions and resulting cautious recruiter attitudes.”

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