Insurance, banking and telecom sectors show an upward trend while automotive and oil and gas lag behind.
Pune: Results of a recent survey by a leading job portal reveal that April has shown an upward graph for hiring, up 8 per cent compared to March and 26 per cent since last April. What the portal terms as the ‘Job Speak index of Pune’, a metric used to measure the employment rates was at 1,854 translating to an overall pan-industry high, especially in insurance, telecom and banking and IT.
An in-depth analysis points to the insurance sector that tops the list with 24 per cent growth in hiring compared to March 2014. However Dr Prasad Ghadge of Dream Jobz that hires for information technology in the insurance sector said, “There has definitely been a steady growth in IT and Insurance, but not exactly a spiked one and definitely not for new hires.” According to him, there is a skills gap between what the companies are looking for and what freshers have to offer so companies hire more laterally.
Anuj Chaurasia, director of Job Nest credits this hiring spike in the insurance and allied sectors to the growing awareness about insurance and high stake ventures. “International insurance companies are making tie ups with Indian Companies so as to be a part of this growing market, thus increasing the recruitment too,” he said.
The telecom industry too has seen a substantial growth in Pune and employed about 19 per cent more people than a month before the new fiscal year began however the core IT sector has seen a hiring rate of 3 per cent more than last year. Chaurasia has seen a substantial of growth in telecom recruitment in April 2014, “Companies are expanding their markets, and so they need a lot of new talent for communications, In fact various companies such as WNS, Convergent have separate department for communications,” he said.
The functional area analysis revealed that among broadly categorized industries the demand for working professionals in the banking and finance industries was the highest almost up by 16 per cent. Prima facie, the growth looks very positive however human resource specialist Smruti Rajput of Randstad consulting said, “This not something new because the attrition rate in these sectors is more too which means not many new jobs are actually created and more people move from organization to organization.” A representative from Mars consultancy and placements also concurred, “In the banking industry there has been a decrement in number of students placed in the month of April so the market for freshers is not that optimistic,” he said.
Nirzari Sen of EComera a pune based e-commerce company said, “Many new players have expanded in the banking sector like Deautsche Bank that have started a new hiring spur in the banking sector for IT and allied departments.” Although the IT sector has does not top the list it has shown a slight improvement which Sen accredits to the heavy foreign investment in the banking, insurance and related BPOs.
Rajput further said that in Information Technology and allied industries people prefer to stick with their employer longer as pay hikes are better as compared to other industries.
Although most sectors show an upward hiring trend the oil and gas industry appears to be in a slack with a dip of 7 per cent as compared to last month. However Rajput said that even the automobile industry is now reaching a plateau, “This industry often hires contractual staff but in the recent past that too has been very slow and some are in fact considering relocating from Pune to other states.”
Results from web portal survey
Sector/ percentage improvement since march 2014
Insurance / 24%
BPO / 14%
Telecom/ 19%
Pharma/11%
Auto / 6%
Capital Good/ 10%
Oil and Gas/ (negative)7%
Functional Area/ percentage improvement since march 2014
Banking and Insurance / 16%
BPO/ 14%
HR Admin / 14%
Sales /9%
Marketing/8%
Project Management/ (negative) 5%
Maintenance / (negative) 4%
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