A recent report published by TeamLease on August 8, 2023, under the title “EdTech Career Outlook Report” for the second half of the year (HY2, 2023), has revealed significant developments in the job market. The report indicated a 3% increase in the hiring of new talent during the latter half of 2023 compared to the first half. This trend was observed across three prominent industries.
The report highlighted that the inclination to hire across all jobseeker categories witnessed a rise from 68% to 73% during the same period. This shift suggests a positive outlook for employment prospects in the upcoming months.
Furthermore, the report contrasted the job market for freshers with the previous six months and found a notable 6% growth in the period from July to December 2023.
In terms of industry specifics, the report pinpointed three sectors that led the way in hiring new talent: engineering and infrastructure (50%), telecommunications (53%), and e-commerce and technology startups (59%). The latter half of 2023 experienced a 65% recruitment rate for freshmen, marking an increase from the 62% recorded in the first half.
The demand for certain roles also stood out across various industries. Fresh software devops engineers, chartered accountants, search engine optimisation (SEO) analysts, and UX designers were among the positions most sought after. Among cities, Bengaluru emerged as the leader for hiring in the second half of 2023 (H2), followed by Mumbai (61%) and Chennai (47%), both of which saw a 5% rise from H1.
Another notable aspect of the report was its focus on the growing popularity of degree apprenticeships. Among students and companies alike, these apprenticeships gained traction, with manufacturing (12%), engineering and infrastructure (10%), and power and energy (7%) being the top sectors considering such hiring.
Ms. Neeti Sharma, the Co-Founder and President of TeamLease EdTech, emphasized the evolving skill requirements of employers when hiring freshers. She noted that employers are increasingly interested in candidates who possess digital literacy and adaptability to the ever-changing work landscape.
The report’s findings were based on data collected from 737 companies of varying sizes, operating in 18 different sectors across India. The survey included participation from 14 geographic regions, encompassing metros, Tier-I, and Tier-II cities, thereby providing a comprehensive view of the prevailing hiring sentiments.
