Internet business, software hardware and IT, pharma, BFSI epidemics will capitalize on the job market in the near future.
The India Skills Report 2022 by Wheebox in partnership with CII, AICTE, AIU, Taggd, Sunstone Eduversity and UNDP is a report on talent supply and demand. According to ISR 2022, overall 46.2 percent of young people were found to be in higher employment compared to 45.97 percent in the previous year, which is a significant improvement. The pool of employment for women is steadily increasing with 51.44 per cent of women and 45.97 per cent of men found to be highly employable. Another trend that has been picked is that 88.6 percent of graduates are looking for internship opportunities.
The survey found that candidates from Maharashtra, Uttar Pradesh and Kerala had the highest employment as compared to last year which were Maharashtra, Tamil Nadu, Uttar Pradesh and Karnataka. Of these, B.Tech graduates and MBA graduates are seen as the most recruiting talents from different domains. The cities of Pune, Lucknow and Trivandrum were the most employable talents and the most preferred cities for work by graduates were Bangalore, Kochi and Chennai. Maharashtra, Uttar Pradesh, Kerala, and West Bengal are recruiting youth talent.
The demand for qualified and skilled professionals will be driven by sectors including IT / ITES, Pharmaceutical, E-Commerce and BFSI. The number of recruits in these sectors is expected to increase by 20 percent in 2022 as compared to 2021 The demand for technology as a skill will continue throughout the industry
India will be the largest employer in the Internet business, software hardware and IT, pharma and BFSI sectors. In addition, across India, the company intends to hire 35.96 per cent to forecast 2022 demand. The survey found that there has been a significant change since last year, with 35.96 per cent positive recruitment targets for the 2022 demand forecast.
The report further states that the most sought after courses in 2022 will be B.Tech and MBA with the highest recruiting talent at 55.15 per cent and 55.09 per cent respectively. IT, CSE, ECE are the most employable engineering domains.
Use of highly employable female resources.
Compared to last year’s participation of 36 per cent women in the workforce, this year 32.8 per cent women have witnessed similar participation, including those employed in various industries vertical. Although 67.2 per cent of male employed professionals make up the majority, women’s participation in the workforce is being encouraged by more companies with the intention of recruiting more women.
Telangana has the highest number of women ready for jobs at 39.42 per cent, followed by Karnataka with 35.44 per cent. The highest participation of women was found in the internet business sector, where women’s participation was 54.5 percent. The retail sector has the highest number of male workers at 95 per cent, followed by the manufacturing sector at 88 per cent and the automotive industry at 80 per cent. The IT and tech business was estimated to have 52.67 per cent female employees, followed by BFSI with 35 per cent female in the pharmaceuticals sector and then 30 per cent female participation. With the inclusion of remote work opportunities and hybrid models, a more distributed workforce is expected in many industries.
The India Skills Report is a compilation of assessments of over 3 lakh candidates across India, who appeared in the Wheebox National Employability Test (WNET), and 150 corporates across 15+ industries who participated in the India Hiring Intent Survey – Early Career Edition. The Wheebox National Employability Test (WNET) survey sheds light on youth employment in India. Some of the key dimensions assessed during the survey were business communication, critical thinking and numerical reasoning.