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Though cautious, India Inc plans to hire in 2020: India Skills Report 2020

  • 56% of employers are likely to increase hiring next year, although net hiring outlook declined from previous year
  • E-commerce and BFSI to lead hiring. Engineers to be in highest demand
  • Tamil Nadu, Karnataka and Maharashtra are most preferred states for hiring talent in 2020
  • Gender parity still a concern at 71:29 (M:F ratio) across industries
  • January 7, 2020: Despite the gloomy outlook that is impacting Indian economy and the hiring plans of organisations in the last three quarters, Hiring will look up in 2020, according to India Skills Report 2020. While there are sectors where a muted growth would be experienced, Banking, Financial Services, Insurance and E-commerce business companies have shared a positive hiring intent for the coming year.Powered by Wheebox, A Global Talent Assessment Company, India Skills Report is a joint initiative with Taggd by PeopleStrong (India’s largest Recruitment Process Outsourcing provider), Confederation of Indian Industries, in collaboration with UNDP, AICTE and AIU. India Skills Report 2020 aims to provide an overview of the supply of talent and the demand from industry and brings together the readiness of our present talent pool for new-age jobs or job types and the skills that employers are today seeking in prospective employees.The report is a culmination of insights gathered from Wheebox National Employability Test (WNET) a nation-wide assessment that reached over 300 thousand graduates from 3500 institutions across 28 states and 9 Union Territories of India and the India Hiring Intent Survey (IHIS), primary survey of over 150+ enterprises across 9 major industries conducted by Taggd (PeopleStrong’s Recruitment Business).On the talent demand side, IHIS this year revealed that almost 56% of employers have a positive outlook on hiring, which is slightly lower than last year when this number was 64%. Candidates with 1-5 years of experience continue to remain in maximum demand (over 40%) while freshers make up for only 15% of the overall talent demand. Basis the educational qualifications in demand, engineers have been expected to be hired the most (30%), closely followed by general graduates (BA/B.com/BSc.). Whereas Tamil Nadu, Karnataka and Maharashtra are the states preferred the most by employers for hiring talent.Speaking on the occasion, Devashish Sharma, Chief Business Officer, Taggd and Founding Member, Group Chief People Officer – PeopleStrong said, In an economic environment where most business are taking a cautious approach towards business plans in the coming year, it is amazing to see some green-shoots. And we are hopeful that this would further improve if the necessary reforms are launched in time. In this year’s report, in addition to quantitative analysis we have also collated qualitative inputs from the demand side from our Decoding Jobs 2019 – The Think Tank Series and are hopeful that our suggestions would help the academia and the government to take necessary steps and bridge the talent supply and demand gap.As per the WNET on the talent supply side, of all the students passing out this year from various streams, more than 46% are employable. While MBA graduates have the highest level of employability amongst all, followed by specialist courses like B. Pharma and B. Com, courses like BA, polytechnic are also showing movement in the positive direction. Most of these employable graduates are found in the states of Maharashtra, Tamil Nadu and Uttar Pradesh.The report also commented on the role women need to play in order to make US $5 Trillion economy a reality and shared that though female employability this year has increased marginally to 47% from 46% last year, the gender parity as the hiring intent for 2020 remains a concern. The report reflects a likely hiring ratio of 71:29 for Male to Female candidates in 2020, with the widest disproportions expected to be seen in the Auto sector.

    Nirmal Singh, Co-Founder and CEO, Wheebox shared, “India’s talent supply landscape is very complex yet interesting. With the kind of change organisations are experiencing, lot of work needs to be done on the supply side to keep up with the pace. This is visible in the employability levels on graduates, which though improving is yet to cross the 50% mark.”

    The report was launched by Ministry of Skill Development and Entrepreneurship and Ministry of Labour and employment at CII’s National Skills Summit in New Delhi on 10th Dec 2019 in New Delhi. 

    About Taggd by PeopleStrong

    Taggd, a PeopleStrong recruitment solutions brand, is the largest Recruitment Process Outsourcing (RPO) provider from India with 100+ clients across 14+ sectors and managing permanent recruitment for over half a million jobs. It combines the power of data and human knowledge to bring advanced talent acquisition and digital hiring solutions that change how businesses work and deliver. Over the last 13 years, Taggd has developed a deep industry understanding, digital recruitment expertise, talent network access, data intelligence and access to a robust tech stack to deliver business gains. Some of the leading enterprise customers of Taggd include Pfizer, Wipro, Honeywell, Mahindra, BirlaSoft, Tata Motors, Renault Nissan, Aditya Birla Health Insurance, Citi, IndiaMART, Swiggy, Oyo and Quikr, amongst other national and multinational brands. Nelson Hall, one of the leading global analyst firms, has rated Taggd amongst leaders in the RPO NEAT Matrix. Taggd is the knowledge partner for the India Skills Report and conducts the “India Hiring Intent Survey (IHIS)” and the “Decoding Jobs – The Think Tank Series” across all major metros to take quantitative and qualitative insights from the academia and industry thought leaders on their views on the talent demand side.

    To download full India Skills Report 2020, click here – https://taggd.in/india-skills-report/india-skills-report-2020/

    About Wheebox

    Wheebox is India’s leading online talent assessment company that partners with corporations for finding and retaining the best talent using validated, reliable and standardized tests for pre-hiring and learning needs. Wheebox benchmarks over 3 million users annually across the globe. In line with its vision to “Measure the World’s Talent”, Wheebox partners with many Fortune 500 corporations and hundreds of large and medium enterprises to power their hiring and competency development assessment needs. Wheebox also partners with thousands of higher and vocational educational institutions for conducting its proprietary “Wheebox National Employability Test (WNET)” for final year graduates and postgraduates to benchmark competencies that matter the most for being employable in corporations. Wheebox also powers the “India Skills Report” on the skill supply side and complements thousands of colleges across all Indian states and UTs to identify, benchmark and spot areas of competencies. It supplements institution wide candidate reports for developing competencies for employment by partnering with Confederation of Indian Industry, PeopleStrong, LinkedIn, Association of Indian Universities, United Nations Development Program and All India Council for Technical Education. Wheebox also partners with many Indian states to design and deploy State Skills Reports and with the Ministry of Labour and Employment with its proprietary BARO Career Interest Report by helping candidates make right career choices on the ‘National Career Service’ and across ‘Model Career Centers’ in India.

     

    For further information, please contact:

    Stuti Anand, Functional Leader, Marketing, Taggd by PeopleStrong

    Email: Stuti.anand@taggd.in

    Phone: +91 9582506346

    About Taggd (by PeopleStrong)

    Taggd, a PeopleStrong recruitment solutions brand, is India’s largest recruitment process outsourcing (RPO) provider, with 100+ clients across 14+ sectors and managing permanent talent recruitment for over half a million jobs. It combines the power of data and human knowledge to bring advanced talent acquisition and digital hiring (RPO) solutions that change how businesses work and deliver.

    Over the last 13 years, Taggd has developed deep industries understanding, digital recruitment and talent management  expertise, talent network access, data intelligence, talent assessment and access to a robust recruitment technology stack to deliver business outcomes.

    Some of the leading enterprise customers of Taggd include Pfizer, Wipro, Honeywell, Mahindra, BirlaSoft, Tata Motors, Renault Nissan, Aditya Birla Health Insurance, Citi, IndiaMART, Swiggy, Oyo, and Quikr, amongst other national and multi-national brands. Nelson Hall, one of the leading global analyst firms, has rated us amongst leaders in the RPO NEAT Matrix.

    Find out how Taggd can help your organisation, let’s talk!

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Though cautious, India Inc plans to hire in 2020: India Skills Report 2020

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