The latest Indeed Hiring Tracker uncovers significant trends in India’s white-collar job market between April and June 2024. With 73% of employers actively hiring during this period—a 7% increase from the previous quarter (January—March 2024)—there's a clear momentum building in key sectors despite broader economic challenges.
Shifts in Hiring Focus: Sales and Marketing on the Rise
Sales and marketing roles have emerged as critical areas of focus for employers, with 30% of hires in sales and 23% in marketing. This shift signals a strategic push by companies to bolster their growth and performance. As organizations aim to strengthen their market presence, these roles are increasingly seen as pivotal to driving business success.
Tech Roles Maintain Strong Demand
The demand for IT roles remains robust, with positions like data analysts (23%), data engineers (16%), and data scientists (11%) at the forefront. This sustained need reflects the ongoing digital transformation across industries, where specialized tech skills are essential to navigate complex technological landscapes.
Skills Gaps Pose a Growing Challenge
While companies are hiring, there’s a looming concern about widening skill gaps. Indeed’s Hiring Tracker reveals that 61% of employers foresee these gaps increasing significantly within the next two years if skilling initiatives are not prioritized. Despite this, only 23% of employers currently offer personalized training programs, underscoring a critical disconnect between recognition and action.
The Dual Imperative: Technical and Soft Skills
Today’s workplace demands a blend of technical expertise and soft skills. Employers are not just looking for proficiency in areas like data science, cybersecurity, and coding; they’re also prioritizing soft skills such as communication, time management, critical thinking, and problem-solving. This dual focus highlights the evolving expectations from talent, where adaptability and a broad skill set are key.
Sashi Kumar, Head of Sales, Indeed India, emphasizes: “Our latest hiring tracker offers a detailed snapshot of the labor market’s current dynamics. While IT roles continue to be in high demand, the growing emphasis on sales and marketing shows a shift in employer priorities. For job seekers, the message is clear: continuous upskilling, particularly in both technical and soft skills, is crucial in this evolving landscape.”
Looking Ahead: The Need for Strategic Skilling
The future of the white-collar job market hinges on how effectively organizations address skill gaps. The tracker highlights that 40% of employers predict minimal growth (0-5%) if skilling initiatives are not implemented. Key areas identified for future skill demand include cloud computing (27%), sustainability (23%), and emerging technologies like Generative AI and AR/VR (20%).
For job seekers, the drive for upskilling is not just about staying competitive but also about enhancing earning potential. Indeed’s data shows that 61% of employees expect a 20%-40% salary increase through upskilling. This expectation reflects an understanding that in a rapidly changing job market, those with advanced and relevant skills are more likely to command better salaries and job offers. Additionally, there’s a growing demand for career counseling (43%) and mentorship (57%)—areas where employers can play a pivotal role by aligning their development programs with employee aspirations. This suggests that job seekers are looking for guidance in navigating changes in a dynamic market. They might fear making the wrong career moves or not fully understanding which skills will be most valuable in the future. Career counselling and mentorship provide the support needed to make informed decisions, helping job seekers align their development with industry trends and employer expectations.
Methodology
This survey was conducted by Valuvox on behalf of Indeed among 3680 employers and jobseekers and employees. The respondents were segregated into cities and further categorized into large, medium, and small organizations and sectors.