HYDERABAD: In what promises to be a silver lining in an otherwise gloomy job scenario – where layoffs have become the order of the day – fresher hiring sentiment in India is expected to see an uptick, with 68% of employers surveyed across the country signalling their intent to hire freshers in the first half of 2024.
This figure is up 3% as compared to 65% in the July-Dec 2023 period and 6% from 62% in H1 2023, according to a TeamLease EdTech report that surveyed 526 companies on fresher hiring and degree apprentices.
In fact, it is not only fresher hiring sentiment that’s on the upswing. Hiring intent for talent with 1-5 years’ experience, too, is up to 64% vis-a-vis 62% in H2 of 2023.
However, hiring sentiment for those with over six years of experience is expected to remain negative during the first half of 2024, with that in the 6-10 years’ experience bracket down to 44% (47% in H2 2023), 11-15 years’ down to 1% (2%) and over 15 years’ experience down to 2% (3%).
Shantanu Rooj, founder & CEO, TeamLease EdTech, attributes the marginal rise in intent to hire freshers in H1 2024 to the robust momentum of India’s growth story.
“Investors are increasingly placing their bets on domestic consumption, a trend that’s directly influencing the uptick in hiring practices. Although lateral hiring remains conservative, there’s a clear strategic shift among employers towards nurturing a talent pipeline by focusing on fresh graduates in anticipation of future growth and investing in fresh talent that can be moulded to meet the evolving needs of the business landscape,” Rooj said.
The report said the top sectors that intend to hire freshers during H1 2024 are e-commerce & tech startups (55%), engineering & infra (53%) and telecommunications (50%).
This figure is up 3% as compared to 65% in the July-Dec 2023 period and 6% from 62% in H1 2023, according to a TeamLease EdTech report that surveyed 526 companies on fresher hiring and degree apprentices.
In fact, it is not only fresher hiring sentiment that’s on the upswing. Hiring intent for talent with 1-5 years’ experience, too, is up to 64% vis-a-vis 62% in H2 of 2023.
However, hiring sentiment for those with over six years of experience is expected to remain negative during the first half of 2024, with that in the 6-10 years’ experience bracket down to 44% (47% in H2 2023), 11-15 years’ down to 1% (2%) and over 15 years’ experience down to 2% (3%).
Shantanu Rooj, founder & CEO, TeamLease EdTech, attributes the marginal rise in intent to hire freshers in H1 2024 to the robust momentum of India’s growth story.
“Investors are increasingly placing their bets on domestic consumption, a trend that’s directly influencing the uptick in hiring practices. Although lateral hiring remains conservative, there’s a clear strategic shift among employers towards nurturing a talent pipeline by focusing on fresh graduates in anticipation of future growth and investing in fresh talent that can be moulded to meet the evolving needs of the business landscape,” Rooj said.
The report said the top sectors that intend to hire freshers during H1 2024 are e-commerce & tech startups (55%), engineering & infra (53%) and telecommunications (50%).