Job Trends: What's Raising In The IT, Pharmaceutical and Telecommunications Market

Sectors that made a splash in the job market this quarter: IT, Pharmaceutical and Telecommunications

By Devashish Sharma

November 16, 2021

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5 min read

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Introduction

Innovative solutions to streamline infrastructure and the post-pandemic revival of various sectors has resulted in a surge of new jobs. This demand-supply gap of talent has necessitated a turbo-charged company recruitment strategy.

As more companies are shifting to a remote work environment, the paramount importance of cloud-based technology, AI, and machine learning has resulted in innovative solutions. The high demand of tech talent has also led to an increase in the offer rejection ratio and attrition rate in the IT sector.

Job Trends

Industries such as Pharmaceuticals, Telecommunications, Technology roles in IT, Product and GICs are steadily recovering and the hiring sentiment is seeing proportionate improvement. Pharma hiring is expected to continue its growth trajectory for the next quarter to support the increase in vaccine production. We anticipate this to be in a steady state by the end of the calendar year. Telecommunications is another industry where we observed a spike in hiring on account of increased subscriber rate and 5G. We also see a sudden focus on job roles in parallel green energy modes of transportation. The automotive industry has used this time to incubate its electronic vehicle segment growth. The industries such as Logistics, E-Commerce, FMCG, Education, which were quick to bounce back, are also showing optimism and a proportionate surge in their hiring numbers. In fact, many retail players are already working on e-commerce style offerings, partnering with an upstream and downstream supply chain that will create a whole new host of front-line job roles in the near future. As more companies are shifting to a remote work environment, the paramount importance of cloud-based technology, AI and machine learning has resulted in innovative solutions. Companies are catching up to the global demand for a more refined infrastructural capacity to house the vast populace of qualified graduates and professionals in India. However, this innovation trend is not limited to the IT sector but is spread across industries. This, along with a slew of new GICs setting up office in India, has driven the demand for tech talent in the country. Interestingly, this high demand of tech talent has also led to an increase in the offer rejection ratio and attrition rate in the IT sector. The offer to joining Ratio stands at 75% as of now, whereas the offer rejection ratio has registered a high at 20% in the April to June quarter.

Power Up your Recruitment Strategy

The Decoding Jobs Sectoral Dossiers included in this edition, pick apart the driving factors of today’s industry ecosystem, with a robust analysis of the hiring intent across various sectors. Further in this edition, a focused session by Manish Gupta, our Chief Growth Officer at Taggd, sheds light on how to effectively kickstart hiring in large volumes over a short time. Additionally, an in-depth analysis of the changing employee aspiration in the new normal is covered in tandem with how it affects their job-related decision making. The pandemic has also strengthened our belief that new jobs aren’t as fictional as we would like to believe, and some of these would soon become part of lives. New job roles and skills are emerging at a fast pace across industries and the talent acquisition community is at the forefront of this changing landscape. This edition also offers an exclusive access to the compendium on – Job Decoders 2021. It is a first-of-its-kind initiative to engage with the finest minds in recruitment in face of rapid change. We are proud of the new frameworks explored in the compendium, acting as a guiding light for future-ready professionals and enterprises. In the end, we believe by empowering each other with the right information, we are one step closer to setting a benchmark for innovative workflow and seamless functionality across diverse job roles. We hope you find the Decoding Jobs Quarterly worth your while.

By Devashish Sharma