01 Sep 2020 20:48 IST

Hiring has picked up pace in IT and finance, reveals Board Infinity study

More college students and freshers are opting for internships to manage their career during the pandemic

The Covid-19 pandemic has caused a lot of movement in the corporate world with lay offs, hirings on hold, contraction of businesses, and so on. There are few industries that witnessed a phenomenal rise during the pandemic, according to the study conducted by Board Infinity, a career exploration platform. The online survey was conducted among 2,320 freshers and working professionals, and 235 start-ups, mid, large organisations, and SMEs.

More internships

The study recorded a 20 per cent jump in hiring in data science, machine learning, artificial intelligence, digital marketing, SEO and social media positions, compared to first three months of 2020. Many college students, as reported by the study, were opting for unpaid internship opportunities, in order to remain relevant and upskill themselves in a competitive market. Another reason for surge in internships could also be the lates reforms in National Education Policy (NEP) 2020.

Dramatic changes in hiring process

As organisations have resumed functioning amidst the ongoing pandemic, there is a slight rise in positive sentiment about business growth. This may lead to an encouraging trend in the hiring outlook for the rest of the year. “Although the hiring has picked up pace, there has been a dramatic change in the process for many companies. Initially, full-time offers were the norm, but in these trying times, HRs have started opting for an internships to PPO model for better conversions and long term association with the candidates. Today, we are seeing new age companies conducting hackathons and other virtually scalable hiring models, to shortlist appropriate candidates in this unbalanced supply and demand market,” says Sumesh Nair, Co-founder, Board Infinity.

More placement opportunities for IT and tech

As per the study, media, IT, finance and pharmaceutical sectors, saw a growth in hiring while automobiles and logistics remained stagnant.

 

Graphics by V Visveswaran

 

 

According to the research study, the job placements in various sectors are — 28.3 per cent in IT and services, 14.3 per cent in media, 19.8 per cent in e-learning, 11.9 per cent in marketing and advertising, 11.1 per cent in pharma, 7.9 per cent in civil and social service, 9.5 per cent in financial services, and the least of 1.6 per cent in automotive industry.

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