Taggd, in association with the Confederation of Indian Industry and Sunstone Eduversity, released the third edition of its annual Decoding Jobs/Hiring Industry Sectoral Reports 2022.
Key highlights
- Top 3 sectors that are expected to ramp up hiring in 2022 are Automobile, IT/ITes and Internet Business
- Special mention: Hiring activity across Global In-House Centers in India are expected to post 31% growth in 2022 as compared to 27% growth in 2021
2022: A good year for early career professionals
- In 2022, professionals in 1 to 5 year experience range are expected to experience a surge in demand across industries, followed by freshers (with no experience)
- More than half (56%) new hires in 2022 are expected to early career professionals (0-5 years of experience)
New in 2022: Other shifts in the job landscape
- Nearly half of the new hires (47%) are expected to be from non-tier 1 cities
- Gig workers are expected to make up 9% of the workforce in 2022 up from 8% in 2021.
This annual report provides an overview of the hiring outlook of 7 key industries for 2022 across various parameters such as experience, gender, the composition of workforce, location, and skills.
During the launch, Ved Mani Tiwari, COO, and Officiating CEO, National Skill Development Corporation (NSDC) presented the findings of the report, in the presence of over 250 CHROs and industry leaders.
According to the findings of the report, hiring activity is expected to post 31% growth in 2022 across 7 key sectors (Automotive, BFSI, Global In-House Centers, Heavy Engineering and Manufacturing, Internet Businesses, Information Technology, and Pharmaceuticals).
Speaking on skill development, Piyush Nangru, the COO and co-founder of Sunstone Eduversity, said, “A leading cause of poor productivity and lack of alignment in the work scenario is the absence of a functional, cutting-edge training and learning ecosystem. Therefore, making education tailored to the demands of the corporate world through experiential learning and industry interaction during college will be the redefining factor for education in the coming years.”
“These factors make it imperative for ‘Soft-skills’ and ‘Content designed for in-demand specializations’, to be a prominent part of the curriculum and base-level training. There are numerous opportunities already in place for academic collaborations to empower our freshers and make them employable, and we, as educators, need to embrace them.” he added.
Highlighting the macro-economic factors supporting this positive hiring sentiment, R Mukundan, Chairman, CII National Committee on Industrial Relations and Managing Director & CEO, Tata Chemicals Ltd. said, “As we pave the way towards India@2047, the path towards self-reliant India has to be supported by a large availability of a skilled workforce to meet the demands of Industry 4.0. “
“CII is pleased to launch the 3rd edition of Decoding Jobs Sectoral Reports, which will assist Industries to navigate the recruitment landscape by showcasing the key recruitment trends and best practices.” he added.
Elaborating on hiring projections for 2022, Devashish Sharma, President, Taggd, said, “The future looks bright for India Inc in 2022. Our data shows that hiring in 2021 increased by 34% over 2020, with sectors such as manufacturing and automotive showing recovery, and we expect it to increase further by 31% in 2022. While we did witness some obstacles in the form of the ongoing tech talent crunch, skills gaps, and the Great Resignation, we’ve bounced back stronger with most sectors exhibiting a greater appetite for hiring in 2022.”
A primary survey was conducted covering 200+ large enterprises, employing more than 5lakhs+ people across sectors to understand the hiring outlook across parameters of experience, location, composition of workforce, gender, and skills.
The report also covers the key hiring metrics such as time to fill, average cost per hire, and average hike given in the past year for each of the 7 sectors. Moreover, Taggd also conducted a series of industry-specific roundtable with Talent leaders to get qualitative insights.
