Hiring drops by 2 per cent due to festive season in October: Report

Hiring activity fell by 2 per cent in October as festivals and vacations slowed down the recruitment cycle of companies, says a report.

According to the latest TimesJobs RecruiteX Report, recruitment activity slowed down by 2 per cent in October mirroring global employment trends.

“The RecruiteX data trend shows a regular dip in hiring around this festive season. Most people take their annual vacations during this period and it reflects in the manpower planning strategies of companies  which defer recruitments during this period,” Times Business Solutions Head of Strategy Nilanjan Roy said adding post festivities, talent demand is seen to pick up pace.

According to the report, financial accounting was the top hiring sector of the month as the sector reported 19 per cent rise in hiring activity, while hiring for content professionals, editors and journalists saw 13 per cent rise in October.

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“Rise in demand for professionals in financial accounts and tax consultancies is also a sign of companies preparing for the year ending. With new channels being launched across domains, content and media professionals are also seeing good opportunities for growth,” Roy added.

Among metros, recruitment activity was highest in Bengaluru as the city posted a rise of 14 per cent, followed by Pune with a 5 per cent rise.

Meanwhile, demand for experienced professionals rose significantly. The demand for professionals with 10-20 years of experience reported an average rise of 3 per cent.

None of the other experienced categories posted rise in demand during the month and professional with over 20 years of experience saw 8 per cent drop in demand and mid-level professionals with 5-10 years of experience saw 4 per cent drop in demand.

Entry level professionals registered 2 per cent drop in demand during the month, the report said.