Pandemic Leads To A Dip In Demand For Talent In Healthcare, BFSI

Most high volume sectors noted a dip with the sharpest fall in the healthcare, BPO, BFSI and automobiles sectors.

Pandemic Leads To A Dip In Demand For Talent In Healthcare, BFSI
Pandemic Leads To A Dip In Demand For Talent In Healthcare, BFSI
Aparajita Gupta - 12 June 2020

New Delhi, June 12: With the COVID-19 crisis deepening, talent demand at Indian Inc dropped even in the essential services sectors as Healthcare and BFSI. India Inc registered 8 per cent drop in talent demand in May 2020 month-on-month analysis, triggered predominately by the extension of the nationwide lockdown from May 17 till May 31, 2020, stated a recent survey.

Most high volume sectors noted a dip with the sharpest fall in the healthcare/ pharmaceuticals, BPO, BFSI and automobiles sectors, stated the finding of TimesJobs RecruiteX May 2020 edition.

“The COVID-19 lockdown has caused an irreplaceable damage to the Indian economy. From March 2020 to May 2020, the talent demand has slipped continuously for three months now. However, I am hopeful that things will get better from here. Job seekers should use this time to learn new skills to be better equipped for the future. Recruiters should also use this time to evaluate their hiring strategies to attract the right candidates,” said Sanjay Goyal, Business Head, TimesJobs and TechGig.

The healthcare/pharmaceuticals sector – which noted a marginal jump of 2 per cent in talent demand in April 2020 – shed most talent demand in May 2020. The BPO and BFSI sectors – which together employ a big share of India’s corporate workforce – too registered a drop in talent demand despite most companies operating remotely.

The survey stated almost all functional areas recorded no growth in talent demand. The marketing and advertising job profile registered the sharpest dip in month-on-month talent demand.

Among the metro cities, Bengaluru shed most talent demand in May 2020. Chennai - which recorded a mere 1 per cent growth in talent demand in April 2020 – saw no growth, no loss in talent demand in May 2020. All other cities saw no improvement in talent demand.

The talent demand for professionals with 10 to 20 years of work experience noted steepest dip of 16 per cent in May 2020. All other experience categories also noted a dip in talent demand.

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