An increase in employability level to 38.12% increase in hiring intent for the second consecutive year, India Skills Report is a Joint Initiative of Wheebox, PeopleStrong in association with CII, LINKEDIN AND AIU Candidates from Tier 2 & 3 cities found highly employable with employability level 50% compared to tier 1 cities which are at 30% The study forecast an overall increase of 14.5% in the hiring intentfor the next year. The sectors which will see maximum hiring are Retail, e commerce, BFSI, Pharma, Telecom, Manufacturing Andhra Pradesh, Uttar Pradesh, Delhi, West Bengal, Maharashtra, Rajasthan, Tamil Nadu, Himachal Pradesh, Jharkhand and Haryana form the employable pool Reaching out to 3000 educational campuses assessing 5 lakh students across 29 states
New Delhi, 26th November, 2015: The recent initiatives in the skills and job arena might not have resulted in radical changes but have surely kept the positivity flowing indicate the results of India skills report 2016. India Skills Report 2016 is a joint initiative by Wheebox, Global Talent Assessment Company, PeopleStrong, India’s leading platform based multi-process HR Outsourcing and Recruitment Process Outsourcing & HR Technology Company in Collaboration with Confederation of Indian Industry and LinkedIn, World’s largest professional network. In its third season the report captures the insights from the largest employability test thatwas spread out to 3000 educational campuses, assessing five lakh students across 29 states and seven union territories from noteworthy educational universities and professional institutes in the country along with the India’s hiring intent survey that reached out to over 150 employers across 12 major sectors. The study has shown an improvement in employability which is 38.12% compared to the number of past two years – 37.22% (2015) and 33.95% (2014). This year the study has shown an interesting trend where Tier 2 cities were found to be more employable (over 50% candidates assessed were found employable) than Tier 1 cities (employability ~30%).
India Skills Report 2016 has shown for the first time an equal composition of states from all regions in terms employable pool. The top states include Andhra Pradesh, Uttar Pradesh, Delhi, West Bengal, Maharashtra, Rajasthan, Tamil Nadu, Himachal Pradesh, Jharkhand and Haryana. Compared to last year’s list of Top 10 states, the new entrants include –Jharkhand, Himachal Pradesh and Haryana. Few states which lost their slot in the top 10 states are – Orissa, Kerala & Pondicherry.
From the demand side, the study forecastsan overall increase of 14.5% in the hiring intent from the current year to the next year. The sectors which will see maximum hiring are Retail, e commerce, BFSI, Pharma, Telecom, manufacturing with an increase of over 20% in the hiring numbers followed by BPO/KPO/ITES Core sector, with an increase of more than 10% .However FMCG, Hospitality and Software & ITexpect the hiring numbers to remain the same compared to last year. In domain wise hiring, there will not be any significant a hiring mix of industry sectors, however interesting trends are observed in sector wise domain preferences. BFSI forecasts a preference for management and bachelor degree while expecting a drop in hiring of ITI & Diploma candidates. The core sectors will see decrease of hiring graduates g instead hiring of engineers will go up significantly. The consumer durable sector will double the vocational graduate hiring in comparison to last year. Another sector which will see a significant increase in hiring of vocational candidates is hospitality and they however plan to reduce the intake of diploma graduates in the overall hiring mix.
India Skills Report 2016 also studied correlation between age & employability. Out of total number of candidates in the age group of 18-21 years,37% scored more than 60% and hence were part of the employable pool. Forage group 22-25 years this number was 31.59% and forage group 26-29 yearsthis number was 21.88%.
The 3rd India Skills Report shows an upward trend in hiring spread across 29 states & 7 UTs. The maximum hiring activity can be seen in Maharashtra, Karnataka, Delhi, Tamilnadu, Punjab, Gujarat, Andhra Pradesh, Uttar Pradesh & Haryana respectively. Similar to last year, most of the industry sectors prefer younger workforce with about 80% employers preferring to hire candidates of age 30 years and below. An interesting trend is the increase in preference of software industry towards candidates of age more than 30 years. This number has increased to over 23% in this year’s survey.
The report also tried to identify the preferred sourcing channels of the employers. Internal referrals came across the most preferred sourcing channels followed by Job portals. The use of social media as a sourcing channel is increasing year by year with about 14.5% citing it as the preferred sourcing channel. There is also a small percentage which adopting mobile and video recruiting. In totality, the digital channel form more than 1/4th of the preferred sourcing channel.
Mr Chandrajit Banerjee, Director General, CII said, “ The third edition of the India Skills Report is a scientific tool with real time data, which will address the skill gaps in the labour market and facilitate opportunities for potential employees.”
Mr. Nirmal Singh, Founder and CEO of Wheebox said, “We are delighted to yet again bring the supply and demand sides of talent on the same platform. This year also the report showcases the demographic and geographic coverage of skill levels in India. We are confident that with efforts being put by stakeholders like Government, Corporations and academia, we will see more of the talent being employable.The need of the hour is to deploy multi prong approach to solve the problem. India must also identify future skills that will arise in next 10 years and prepare skilled teachers, syllabus, training capacity, learning material and map them to those opportunities.”
Mr. Pankaj Bansal, Co founder and CEO of PeopleStrong, said” While 2015 was the year of envisioning and launching initiatives in the space of Skill Job Matchmaking; Year 2016 will be the year of action. As we see an increase in hiring intent for the second consecutive year it is clear that the hopes of corporates have not died down. It thus becomes all the more important that the job skill matchmaking engine picks up and supports the growth journey. It is exciting to be part of an initiative like India Skills Report 2016 that can contribute to this.
Irfan Abdulla, Director Talent Solutions India, LinkedIn shared “LinkedIn is focused on connecting talent with opportunity and we are delighted to be able to support the India Skill Report for the third year running. India has a massive talent pool that is increasingly strategic to driving success for key initiatives such as Make In India. As the demand and supply of skills continue to evolve across industries throughout the country, we hope that the rich insights on talent and skills on LinkedIn will help professionals, companies and governments identify opportunities, whether it’s to get a job, tap a particular city for the skills available there, or to plan for the development of skills that are not yet available but are key to future success, respectively”
Wheebox is India’s leading online talent assessment Company that partners’ corporations for finding and retaining best talent using validated, reliable and standardized test for pre-hiring and learning needs assessments. Wheebox benchmarks over 1.5 million users annually across 21 countries globally. Wheebox research & development teams have created a battery of over 100 validated tests, spanning areas in Language, Cognitive Skills, Personality, Information Technology, General abilities and core domain skills in Finance, Retail, Sales, Engineering, Automobile etc. Staying aligned to the vision of Wheebox to “Measure World’s Talent”, It partners over 3000 higher and vocational education campuses for conducting “Wheebox Employability Skill Test” for final year graduates to benchmark competencies that matter the most for being employable in corporations. Wheebox powers “India Skills Report” skill supply side study and complements thousands of colleges to identify, benchmark and spot areas of competencies and supplementing with Institution wide and candidate report for developing competencies for employment. For more information: Log onto: www.wheebox.com
PeopleStrong is a leading platform-based mpHRO (Multi-process HR Outsourcing) and technology company, headquartered at Gurgaon, India. It specializes in HR shared services, recruitment process outsourcing (RPO), payroll & compliance management, and cloud-based HR technology solutions. Since its establishment in 2005, the company has built a unique combination of domain expertise, operational excellence, and innovative technology to deliver optimum level of services to its customers. Through its platform-based HR solutions, PeopleStrong facilitates the customers to achieve higher gain margins, efficient business functions, increased productivity levels, better return on investment (ROI), and ‘happier employees’. PeopleStrong has clients across diverse industry sectors. The company is one of the first platform-based integrated HRO/RPO companies in India to be successfully assessed on Statement on Standards for Attestation Engagements (SSAE) No. 16 for reporting on controls by Auditing Standards Board of the American Institute of Certified Public Accountants. For more information: Log onto: www.peoplestrong.com/aboutus
About Linkedin :
LinkedIn connects the world’s professionals to make them more productive and successful and transforms the ways companies hire, market and sell. Our vision is to create economic opportunity for every member of the global workforce through ongoing development of the world’s first Economic Graph. LinkedIn has more than 400 million members and has offices around the world. For securing a copy of complete report or accessing the pool of talent please visit www.peoplestrong.com , www.wheebox.com or www.IndiaSkillsReport.com
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