62% Indian companies plan to hire more freshers in HY23: TeamLease

Amidst the global tech layoffs, the intent to hire freshers has improved amongst Indian companies, according to a report by TeamLease. As per the latest Career Outlook Report by TeamLease EdTech, as many as 62% of Indian companies have expressed the intention to hire more freshers between the January to June period of 2023. In the July to December period of 2022, the intent to hire freshers stood at 59%. Globally, the intent to hire freshers during the HY of 2023 stands at 14%, whereas in the APAC region, this intent stands at 23%. 

As per the report, information technology has emerged as the leading industry with 67% intent to hire freshers. This was followed by e-commerce & technology startups with an intent to hire freshers at 52% and telecommunications at 51%. The FMCG industry has a 21% intent to hire freshers, whereas the healthcare & pharmaceutical industry has a 45% intent to hire freshers. Amongst the Tier I cities, Bengaluru has the maximum openings for freshers at 75%, followed by Mumbai at 56% and Delhi at 47%. 

"Even in the face of global muted sentiments around team hiring, a large number of Indian employers have expressed their intention to hire freshers; some to create a long-term supply channel whereas others to replace their expensive resources with fresh trainable talents. Whereas this is good news for fresh graduates coming out from universities, we shall be watchful of the intention translating to actual hiring in the coming months," says Shantanu Rooj, founder and CEO, TeamLease. 

As per the report, cloud developer, investment banking associate, cybersecurity engineer, marketing analyst, and biomedical engineer are the top roles that freshers can expect to be employed. 

Indian freshers' job market has witnessed an increase by 15% between January to June period in 2023 when compared to the same period of 2022. "It's interesting to see positive hiring sentiments for freshers amidst global turbulence and whispers of economic winter. As aspiring graduates and freshers, the key here is to identify the industries that demonstrate an optimistic view and the job skills that would have good demand in the future. Now is the time for job seekers to acquaint themselves with current market trends and invest in the right skills and courses to improve their chances of landing their first jobs," says Neeti Sharma, president & co-founder TeamLeaseEdtech.

However, despite a surge in the intent to hire freshers, the country is grappling with a skilled talent crisis. According to a report by TeamLease Degree Apprenticeship, about 75% of companies surveyed quoted a skill gap in the industry.