Hiring Trends in Placement Season: Skills and Career Opportunities

In this article Jaideep Kewalramani, COO and Head of Employability Business, TeamLease Edtech discusses some of the hiring trends in the current season across various sectors.

India’s placement season is a juncture of hopes and opportunities. It is that pivotal moment when fresh graduates embark on their professional journey, and businesses eagerly scout for the brightest talents to drive their success. In recent years, India’s job market has witnessed a profound transformation. Influential factors, ranging from economic dynamics to technological revolutions, and even global events, have left an indelible mark on the ever-evolving hiring trends. Employers are eyeing fresh talent across industries. In the recent TeamLease EdTech Career Outlook Report we found the following trends:

• 65 per cent of surveyed employers pan India have expressed intent to onboard freshers between July and December 2023. E-Commerce and Tech Start-ups lead the chart at 59%, closely followed by the telecommunication sector at 53% and the engineering and infrastructure segment at 50 per cent.

• Freshers roles like DevOps Engineer, Chartered Accountants, SEO Analysts, and UX Designers are in high demand. When it comes to domain skills, employers are on the lookout for proficiency in Business Analytics, Blockchain, Cloud Computing and Search Engine Optimisation.

• Soft skills, notably critical thinking, growth mindset, complex problem-solving, and active learning are also in the limelight.

• Bangalore tops the list of cities with the highest hiring intent at 65 per cent, followed by Mumbai (61 per cent) and Chennai (47 per cent).

• The trend of hiring Degree Apprentices is on a steady rise, with Manufacturing leading at 12 per cent, followed by Engineering & Infrastructure (10 per cent), and Power and Energy (7 per cent). Chennai and Pune are leading as preferred cities, each with a hiring intent of 10%, closely followed by Bangalore and Mumbai at 9 per cent, and Ahmedabad at 7 per cent. Work Integrated Degree Programmes have become a stable source of talent supply chain for the vast majority of corporations.

Graduates Must Be Aware of a Few Factors that are Changing the Placement Landscape

Digital Dominance: India's tech sector continues to shine, with a growing emphasis on digital transformation. Companies are actively hiring software engineers, data scientists, and AI specialists to stay competitive in an increasingly digitised world.

Startup Surge: India's startup ecosystem has been thriving, attracting talent with innovative ideas and substantial funding. Startups in sectors like fintech, edtech, and e-commerce are expanding rapidly, offering exciting opportunities for young graduates. The dynamism of startups adds a sense of entrepreneurship to the placement season.

Return to office: The "return to office" trend is gaining momentum as businesses navigate the post-pandemic landscape. Employees can regain a sense of routine and social interaction, enhancing their well-being and productivity. It provides a collaborative environment that fosters innovation and teamwork, benefiting companies by improving employee engagement and, ultimately, bottom-line results.

Adoption of Generative AI: Organisations are rapidly adopting AI, particularly generative AI, and this shift significantly influences placement trends. The demand for talent well-versed in generative AI is on the rise. As a result, job seekers with expertise in generative AI are increasingly sought after, irrespective of their field of expertise. This trend underlines the pivotal role of AI in reshaping the job market and highlights the value of staying updated and proficient in these cutting-edge technologies for aspiring professionals.

Graduates Also Need to Overcome Certain Challenges;

Skill Expectations: Employers now expect a broader skill set. In addition to technical competencies, soft skills such as adaptability, communication, and problem-solving are highly valued.

Digital Skills: These are critical skills for the career seeker in the modern age as digital technologies are evolving rapidly. Fluency in digital tools, and workflows and the ability to leverage generative AI skills will be a good value add.

Competition: The increased popularity of certain sectors has led to intense competition. Candidates must differentiate themselves through certifications, internships/apprenticeships, and networking.

Remuneration Negotiations: With the changing dynamics, salary negotiations have become more complex. Researching industry standards and cost-of-living differences across regions can be advantageous. Candidates should also consider performance-linked compensation and ESOP plans.

This placement season in India reflects a diverse and evolving job market. While tech and startups thrive, other sectors like telecom, engineering, healthcare and e-commerce are also on the rise. Job seekers should be ready to adapt, upskill, and embrace the changing landscape to make the most of the available opportunities.

This article has been written by Jaideep Kewalramani, COO and Head of Employability Business, TeamLease Edtech.