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The Job Market Gained Momentum in 2022, Reveals Avsar’s Survey

Our Correspondent
Our Correspondent
Posted on 09 Nov 2022
12:58 PM

Job Market Is Rising In Its Momentum

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Summary
The report highlights that hiring surged in the past two quarters of 2022 and this trend will sustain its momentum in the last quarter as well
Both white-collar and blue-collar jobs are expected to grow significantly

Avsar, a one-stop solution for all talent management needs, has revealed in a survey that post-Covid, India’s hiring outlook remains positive in 2022. Hiring in the past two quarters witnessed a significant spike and there have been 8 million jobs were created across various sectors during the fiscal year 2022. The study also states that this trend is expected to sustain its momentum in the year’s last quarter as well.

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Highlighting the progressive white-collar employment scenario, the report states that sectors such as tech, pharma, and BFSI have been the highest job generators so far. It is expected that the IT, financial and Industrial sectors would continue to grow and would create the maximum number of jobs during the last quarter of 2022. The survey also shares that Pune is leading the job generation market this year with a 78.11% employment rate followed by Lucknow and Trivandrum at 74.32% and 64.48% respectively.

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Hiring in Tier 1 cities like Bengaluru, Delhi, and Mumbai is projected to increase in the last quarter of 2022. Sales and business development have been the highest job creator with 26.9% and IT/ITES created 20.6% employment followed by the marketing sector with 9.9%. Furthermore, the survey hints that a mild recession is expected to hit India in 2023 which will impact the country’s white-collar workforce.

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The study also shares that blue-collar hiring is growing rapidly this year as 22.9% of jobs were created across delivery and retail segments. Due to the festive season, the demand for blue collared workforce increased and hiring is projected to surge by 7 million jobs by the year-end. It was observed that hiring activity in blue-collared jobs flattened at 3% during the second quarter of 2022.

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Avsar’s survey also states that the majority of the organizations moved away from the work-from-home concept in the second quarter of 2022. However, many firms are continuing the remote working culture due to the demand of their workforce. Out of the 10,000 employees surveyed, 97% prefer either working from home or a hybrid model with at least 2 days of remote working. Only 3% of the respondents wish to work from the office.

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Sharing about the survey, Mr. Navneet Singh, CEO of Avsar, said, “Post-Covid, the job market is gaining momentum in India. The hiring scenario seems progressive as jobs for both blue-collar workers and white-collar workforce are growing rapidly. All in all, hiring surged in the past two quarters of 2022 and this trend is expected to sustain its pace even in the year’s last quarter as well.”

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Sharing his thoughts on the recession’s impact, he said, “A mild recession might hit India next year and is expected to impact the white-collar workforce. However, we are hopeful that just like the pandemic, we will be able to sail through this roadblock as well.

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About Avsar

Avsar is a young next-gen tech-enabled service provider catering to a plethora of verticals in the recruitment ecosystem. Being an integrated tech service provider, it is dedicated to meeting the human resource and sales outsourcing needs put forward by various organizations throughout their operations. It provides end-to-end recruitment solutions for staffing, leadership hiring, and Recruitment Process Outsourcing. Along with these, it also offers facilities for campus recruitment from renowned colleges and a payroll management solution for organizations. Leveraging the power of technology, Avsar works to attract the right talent while reducing the time and costs involved in the process. Avsar aims to identify and recognize people from a talent pool of highly professional individuals, to work in organized establishments across India through their services.

Last updated on 09 Nov 2022
12:58 PM
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