Rakesh Jhunjhunwala, an Indian billionaire business magnate, stock trader, and investor said in a statement that 50 lakh new employees will be hired by IT Industry in the next 5 years.
He was speaking at an event of the Confederation of Indian Industry (CII) on Thursday, according to a news 18 report.
According to a recent survey by taggd, the hiring intent is expected to grow to 31% which is a direct reflection of the recovery the Indian economy is witnessing post-pandemic.
The survey says that more than half (56%) of new hiring in 2022 is expected to be early career professionals with 0-5 years of experience.
Saurabh Govil, CHRO, WIPRO said, the IT industry is likely to see 2x hiring particularly for freshers and professionals under two years of work,”
“We have also doubled our intake of non-engineer freshers through our work-integrated learning program. We have also launched some diversity and inclusion initiatives to facilitate a greater share of women in the workforce,” Govil said.
According to a PTI report, There is a 30% spike in the intent to hire freshers in the January-June period of this year, as compared to the previous half-year, indicating a significant recovery in economic activity.
According to TeamLease EdTech’s flagship ‘Career Outlook Report‘, more than 47% of companies have expressed their intent to hire freshers in the current half-year (January-June 2022), while only 17% of companies were keen to increase their fresher pool in the corresponding period last year.
“It is heart-warming to see that despite the continued challenges of the pandemic, the inclination of companies to hire freshers continues to be on an upward trajectory. The 30 percent overall jump in hiring sentiment is a reflection of this growth,” Shantanu Rooj, founder and CEO of TeamLease EdTech, said.
The economic revival and focus on growth are the key reasons driving the upbeat movement, Rooj added.
The top-three sectors that intend to hire freshers during January-June 2022 are information technology, telecommunications and e-commerce, and technology start-ups.
Sectorwise, the IT sector dominates the job market for freshers, offering 31% entry-level jobs.
Sectors that saw a dip in intent to hire are Construction and real estate, agri and agrochemicals, retail (non-essentials), FMCG, marketing and advertising, and media and entertainment.
Hospitality and travel saw a small increase by two percent in intent to hire but continues to be in a lower rank, the report noted.