In the midst of a gloomy job scenario with layoffs becoming increasingly common, there is a silver lining for freshers in India. According to a report by TeamLease EdTech, the fresher hiring sentiment is expected to see an uptick in the first half of 2024. The report surveyed 526 companies on fresher hiring and degree apprentices and found that 68% of employers across the country expressed their intent to hire freshers in the upcoming period. This figure is a promising 3% increase from the previous period, signaling a positive trend in the job market.

But it’s not only freshers who have reason to be optimistic. The report also reveals that hiring intent for professionals with 1-5 years of experience is on the rise. The percentage of employers looking to hire talent in this experience bracket has increased to 64% as compared to 62% in the second half of 2023.

However, the sentiment for professionals with over six years of experience is expected to remain negative during the first half of 2024. The hiring intent for the 6-10 years’ experience bracket has decreased to 44% from 47% in the second half of 2023, while for the 11-15 years’ experience bracket, it has decreased to a mere 1% from 2%. Similarly, for those with over 15 years of experience, the hiring intent has dropped to 2% from 3%.

Shantanu Rooj, the founder and CEO of TeamLease EdTech, believes that the marginal rise in hiring intent for freshers can be attributed to the robust momentum of India’s growth story. He explains that investors have started focusing on domestic consumption and this trend is directly influencing the increase in hiring practices. While lateral hiring remains conservative, employers are strategically shifting their focus towards nurturing a talent pipeline by hiring fresh graduates. This investment in fresh talent is seen as a crucial step to meet the evolving needs of the business landscape.

According to the report, the top sectors that are planning to hire freshers during the first half of 2024 are e-commerce and tech startups (55%), engineering and infra (53%), and telecommunications (50%). These sectors are expected to contribute significantly to the overall freshers’ hiring sentiment.

Overall, the report indicates a positive trend in the hiring sentiment for freshers in India. The increase in hiring intent for freshers and professionals with 1-5 years of experience reflects a growing confidence in India’s job market. However, the negative hiring sentiment for professionals with over six years of experience highlights the need for upskilling and adapting to the changing demands of the industry.

For more information, read the full article on Times of India.