Bengaluru most promising for job seekers in services sector: Report

Bengaluru has beaten 14 Indian cities to lead as the most promising city for job seekers, as 95 percent of employers in the city were willing to hire in the second quarter of the current financial year. This is one and half times higher than the national average, finds a report.

The growth in IT, E-commerce, FMCG, and other allied sectors, has prompted the rise in intent to hire in the tech capital. While the demand for IT-focused job roles and digital competencies has been high, some of the top profiles/roles which were in demand in the city included IT, Sales, Engineering, and Marketing. 

According to the 'Employment Outlook Report' by TeamLease Services, 61 percent of employers of India Inc. were keen to hire during the period, growing by 7 percent compared to last quarter.

Exceptional demand from the services sector has driven Bengaluru to the top of the list of cities willing to hire, the report says. The top industries included Information Technology (97%), E-commerce & Allied Start-ups (85%), Education Services (70%), Telecommunications (60%), Retail [Essential] (64%), Retail [Non-Essential] (30%), and Financial Services (55%).

However, the intent to hire in Bengaluru’s manufacturing sector remained moderate during the period. Less than half of employers were willing to hire in industries such as FMCG (48%), Healthcare & Pharmaceuticals (43%), Manufacturing, Engineering & Infrastructure (38%), Power & Energy (34%), and Agriculture & Agrochemicals (30%).

Other cities with a promising outlook for manufacturing jobs included Delhi (72%), followed by Mumbai (59%), and Chennai (55%). From a services sector perspective, Bengaluru (97%) is at the top, followed by Mumbai (81%), and Delhi (68%).

Dr. Mahesh Bhatt, Chief Business Officer, TeamLease Services, said, “Over the last decade, Bengaluru as a market has seen exponential growth across industries, especially with the emergence of many new age internet-based companies providing varied value-driven services and products. This positive growth momentum has led to an influx of employment opportunities across roles and sectors.”

Bengaluru has been the heart and lungs of the $200 billion-plus IT services industry and a fast-growing start-up ecosystem. It is globally ranked sixth as the city with the highest number of unicorns, according to a recent Hurun Global Unicorn Index 2022.

Bhatt added that more employers are keen to increase their resource pool and are also inclined to pay higher remunerations. “In fact in the coming quarters, hiring intent is further expected to be 97%,” he said.