E-recruitment activities in India declined 8% in September as hiring stagnated with companies focusing on upskilling their existing employees, a report said on Tuesday.
According to the 'Foundit Insights Tracker', e-recruitment activities in the country dipped 8% in September compared to the year-ago period, while hiring declined by 2% month-on-month.
"India is experiencing a temporary hiatus in hiring as companies focus on upskilling their current employees to the changing landscape before hiring new talent. However, our economic prospects are bright and resilient against global headwinds," Sekhar Garisa CEO of Foundit, a Quess company, said.
"The rise in real wages and disposable incomes is boosting demand, particularly in private health insurance, retail, and consumer durables," he said.
Additionally, he said improved access to finance, infrastructure upgrades, green initiatives, and policy reforms further contribute to a favourable business environment that fosters job creation.
"However, addressing the need for upskilling is crucial for realising this potential as the rise and percolation of Artificial Intelligence in every sector is inevitable," he added.
While hiring has stagnated, India's economic prospects appear promising due to its expanding online consumer market, continued digitisation and innovation, green transition initiatives, infrastructure investments and policy reforms, the report noted.
The Foundit Insights Tracker is a comprehensive monthly analysis of online job posting activity.
According to the report, there were positive growth in year-on-year hiring in several sectors, including shipping (32%), retail (30%), office equipment (24%), travel and tourism (18%), advertising (13%), social service and NGO (8%) and automotive (5%).
However, hiring activities in sectors like home appliances (16%), BPO/ ITES (3%), banking financial services and insurance (18%) and IT - Hardware, Software (14%) witnessed declining trend, the report added.
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