The Indian Tech Industry is apparently going through pre-election jitters as the latest recruitment index doesn’t look positive for the Tech Industry aspirants. TimesJobs, a premier job portal owned & operated by the Times Group conglomerate releases RecruiteX, a bi-annual indicator regarding the scenario of professional recruitment especially in sectors that matters the most for fresh & experienced graduates & post-graduates.
The findings for the month of May 2013 seem to have been consistent with the past couple of months which have seen rapid decline in the intake & new-job offers especially by the large technology companies. But what’s equally surprising is the trend regarding the supply of qualified individuals to take up the position.
The month of May was a very striking one which saw the reversal of the Supply & Demand index. Till April, there was a substantial shortage of qualified individuals, while the demand remained high. In other words, Tech Industries were open to hiring, but the supply simply couldn’t keep up. However in the month of May, the trend turned tides & demand dropped drastically leading to surplus supply or in simple terms there were more recruit-worthy candidates than there were jobs in the market.
Is this trend region dependent? Interestingly, this reversal is highly regional. Regions like Hyderabad are actually quite fertile for aspiring candidates. In fact, this region actually witnessed a high surge in demand in the range of 32%. But, Mumbai was a let-downer that saw a decline in demand of about 14%. Ironically, Hyderabad offers only 8% of the market for tech recruits, whereas the leader in jobs is still Delhi NCR followed closely by Bangalore.
Does experience count?
The report also highlights an interesting preference towards fresh or marginally experienced graduates. These were the only segments that saw an assuring jump in requirement.
The period post March-April is usually very active with candidates looking for a better opportunity & companies looking for applicable talent. Perhaps, the candidates have arrived, but companies are hesitant felt Amit Jain, Business Head, TimesJobs.com,
“This is usually a growth period in the recruitment cycle but this time, post appraisal also demand for talent seems to be slow. The industry seems to be reacting to the macro- economic environment and has adopted a wait and watch approach. We do expect things to get better as we approach the election year”.
What are your views?