Despite the challenges faced by companies post-COVID-19, an apparent increase in hiring across various industries is expected. In a report released by human talent management company Spectrum Talent Management, overall recruitment activity could go up by 50% in the third quarter of 2022.
Spectrum Talent Management Director Sidharth Agarwal said that this boost is largely due to companies who will be accelerating their digitization and automation strategies to get ahead of the competition.
Not surprisingly, IT and BFSI (Banking, Financial Services, and Insurance) services are projected to lead the recruitment market. FMCG (fast-moving consumer goods) and healthcare follows as all four are expected to see a quarter-on-quarter and year-on-year increase ranging from a 25% increase up to 90%
Meanwhile, other sectors like manufacturing, automotive, and EPC (Engineering, Procurement, and Construction) — which were watchful last year due to operation constraints — are also expected to join the hiring spree this next three months.
Agarwal stated that “the surge in hiring was expected from the beginning of the year post-two-year hiatus of the pandemic. When compared to the same period last year, there is already a 45% improvement in hiring sentiments this year, especially in entry-level jobs…”
As for the current talent gaps in industries, Agarwal noted that most companies are focusing on “full-stack retention strategies” to keep their employees.
“This situation works in favor of high performers (current employees) and individuals who are potentially looking out for a change in the coming few months,” he added.