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<ul><li>In the <keyword id="6356925" type="General" weightage="20" keywordseo="bfsi" source="Orion">BFSI</keyword> segment, <keyword id="2461546" type="General" weightage="100" keywordseo="fintech" source="Orion">fintech</keyword> firms lead the way with a 41% increase in their <keyword id="6357342" type="General" weightage="20" keywordseo="hiring" source="Orion">hiring</keyword> intent. </li><li>To stay competitive, companies need to foster a culture of innovation and agility, which encourages employees to experiment with new ideas and technology.</li><li>By 2023, the gap between the best workplaces and other workplaces has increased to 5%, making the adoption of best workplaces practices even more crucial.</li></ul>The <keyword id="6354778" type="General" weightage="20" keywordseo="banking" source="Orion">Banking</keyword>, Financial Services and Insurance (BFSI) sector is projected to witness a strong surge in hiring activities in the next year, with companies planning to hire 26% more employees than the current year. Fintech firms, in particular, lead the way with a 41% increase in their hiring intent, showcasing the rapid growth and impact of the industry in India's 1financial landscape, according to the Best Workplaces in BFSI in 2023 report by Great Place To Work. The fintech companies are followed by the Non-Banking Financial Companies (NBFCs) with a 27% increase, Insurance with 21%, and Banking/Credit Services with 15% more hiring prospects. Additionally, companies across the BFSI spectrum are showing increased interest in evaluating and improving their workplace culture, with a notable 12% rise in this aspect compared to the previous year, highlighting a commitment to creating a positive work environment for employees. <cmsannotation type="cmsannotation" annotationid="Employee experience differs across verticals" comment="subhead" text="Employee experience differs across verticals"><keyword id="3315184" type="General" weightage="20" keywordseo="employee-experience" source="Orion">Employee experience</keyword> differs across verticals</cmsannotation> Advancements in technology have led to increased opportunities for consumers to conduct transactions across various sectors on a single platform, blurring the lines between industries. The evolving landscape is characterised by government support, domestic demand, and technological progress. Amidst these changes, the focus on people-centricity remains consistent. Employees are now seen as enablers and facilitators in this dynamic environment, leading to a heightened emphasis on workplace culture. Over the past four years, the overall employee experience in the BFSI industry has seen a positive increase of 5 points, moving from 79 to 84. This improvement has resulted in the industry securing the 5th position in terms of employee experience when compared to other sectors. However, banking and credit companies have seen a decline in experience, while fintech companies have focussed on cultural assessment. Life insurance companies have come out on top when it comes to employee experience. <cmsannotation type="cmsannotation" annotationid="The need to adopt best workplace practices" comment="subhead" text="The need to adopt best workplace practices">The need to adopt best workplace practices</cmsannotation> By 2023, the gap between the best workplaces and others has increased to 5%, making the adoption of best workplaces practices even more crucial. Notably, the BFSI industry has experienced a significant rise of 9% in leadership behaviours associated with impartiality and active involvement in decision-making over the past four years. This indicates a growing focus on fairness and inclusivity within the industry. Says Yeshasvini Ramaswamy, CEO, Great Place To Work India, “The BFSI sector in India is one of the most important pillars of the country's economy. The industry is witnessing significant growth due to increased digitization and government initiatives to boost financial inclusion. To stay competitive, companies need to foster a culture of innovation and agility, which encourages employees to experiment with new ideas and technology.” The increased hiring within the sector highlights its resilience and contribution to economic recovery and employment generation in India.

Fintechs show strongest hiring intent in BFSI sector, focus on improved employee experience

<ul><li>With the end of the year just round the corner, we bring you our latest trends report that talks about marketing trends in the <keyword id="6356925" type="General" weightage="20" keywordseo="bfsi" source="Orion">BFSI</keyword> sector.</li><li>Vishal Subharwal Head, Marketing, Digital Business &amp; E-commerce, <keyword id="472962" type="General" weightage="20" keywordseo="hdfc-life" source="Orion">HDFC Life</keyword>, <keyword id="878756" type="General" weightage="20" keywordseo="sandeep-walunj" source="Orion">Sandeep Walunj</keyword>, CMO, Nippon Life India Asset Management Ltd, <keyword id="328559" type="General" weightage="20" keywordseo="ajay-kakar" source="Orion">Ajay Kakar</keyword>, CMO, <keyword id="6391710" type="General" weightage="20" keywordseo="aditya-birla-capital" source="Orion">Aditya Birla Capital</keyword>, <keyword id="4121510" type="General" weightage="20" keywordseo="jasneet-bachal" source="Orion">Jasneet Bachal</keyword> – Chief Marketing Officer, YES Bank, <keyword id="178450" type="General" weightage="20" keywordseo="abhishek-gupta" source="Orion">Abhishek Gupta</keyword>, CMO, Edelweiss Tokio Life Insurance, Karthik Raman, Chief Marketing Officer and Head - Products, Ageas Federal Life Insurance and <keyword id="9793035" type="General" weightage="20" keywordseo="nikhil-bharadwaj" source="Orion">Nikhil Bharadwaj</keyword>, Head, Corporate Communications, Bajaj Allianz General Insurance share their thoughts.</li></ul>As the world slowly recovers from the Covid-19 pandemic, financial services are slowly but steadily changing their way of doing business and also the way they engage and communicate with their consumers. In the last 2 years, there has been a massive shift in the way consumers interact with the Banking, Financial Services and Insurance (BFSI) players. With the change in consumer behavior, there has also been a shift in the way these organizations are communicating with their consumers. There is a lot more empathy, the last year has about putting the spotlight on courage, resilience and hope. Going ahead too, players in the BFSI sector will need to catch the pulse of the consumers, and reach out to them at the touch-points they are most comfortable at. The need of the hour also is to listen to consumers, figure out their pain-points and try and solve them. Seamless customer experience will play an intrinsic role in keeping brands top-of-mind. The future will be all about convenience and simplicity. To understand a few larger trends we can expect to see in the BFSI sector in the year ahead, we reached out to some key players, and here is what they had to say: Vishal Subharwal Head-Marketing, Digital Business &amp; E-commerce HDFC Life <div type="image" title="Vishal Subharwal" msid="88591744" hostid="261"></div> I believe a ‘user first, omni-channel’ approach to be a trend that marketers need to cater to 2022. Let me elaborate my thoughts. To be successful, business organizations have to move in sync with larger trends seen in wider society. These changes are often reflected in various elements such as popular culture, technology adoption curves, environmental awareness. The role of marketing is to identify such changes ahead of the curve &amp; align resources accordingly. Consumers no longer look at old-school structural boundaries but are more focused on the seamlessness of experience offered to them across touch-points, be it a physical branch or an online platform. This is a trend commonly reflected across industries, as on a standalone basis neither model serves the customer needs well. When was the last time you saw an online payments intermediary get a physical banking license, an online medicine intermediary purchase a physical diagnostic chain, an online insurance broker opening physical branches, retail stores with online integrations. There are many such examples. In the context of rapidly evolving business models, marketing capabilities hence need to be aligned towards building superior omni-channel capabilities for customer acquisition &amp; lifecycle management. Sandeep Walunj, Chief Marketing Officer, Nippon Life India Asset Management Ltd <div type="image" title="Sandeep W 1" msid="88591952" hostid="261"></div> There are three very interesting trends that I feel will dominate 2022 in post-Covid Indian BFSI: 1. Social Discussion Forums where advanced users and experts handhold first-time users/ information seeker Seeds were sown during COVID when people dropped their inhibitions against digital financial transactions/ online investing. Information seeking/ handholding was the logical next (first) step and that’s what’s going to be mainstream. Going further, neutral enabling platforms will equip potential customers with information and tools to make right choices. These could also be offered/ run by an industry body or Government/ quasi-government bodies (example: MF Central mooted by SEBI) 2. Agents/ Brokers connecting with customers through Video Bots The evolution mentioned in point 1 above will further lead to distributors of financial products connecting with potential customers through video bots on social media wherein questions can be asked, individual proposals can be sent, appointments sought and transactions concluded through bots. 3. Social Commerce 2.0 with Meta+Insta leading the way Shopping while consuming social media seemed like an alien concept in early 20s but it is clearly how the consumers prefer it/ want it and desire it. We all saw the string response Meta generated and I am sure brands would be hatching their plans to leverage this trend. Ajay Kakar, Chief Marketing Officer, Aditya Birla Capital <div type="image" title="Ajay_Kakar_DSC_1575" msid="88591665" hostid="261"></div> Uncertainty will remain a way of life, in the foreseeable future. But as they say, tough times are the true test of character, and in these times, it holds equally true for a brand. While there will be a temptation to lay low and see how the uncertainty pans out, such times will help sift the men from the boys. He who sows during this time, will reap the most. Now. And hereafter. Towards this end a ‘spray and pray’ approach will not help. Brands will have to keep a finger on the customer’s pulse; be it their felt, or even unfelt (as yet) needs. Brands that can anticipate the customer’s need will have to offer relevance, simplicity, and comfort in these ever-changing times. Speed to market will become a barometer of success. While anticipating the customer’s future needs, I believe that a brand must not place all its bets only on the digital world. The customer will want and will exercise a choice. High touch and high tech. As he wants it, when he wants it. At the end of the day, the customer remains the king and the brand that not merely listens, but makes its customers feel heard for all their said and unsaid needs, in the times like these, will live to narrate the tale.” Jasneet Bachal – Chief Marketing Officer, YES Bank <div type="image" title="Jasneet Bachal" msid="88591695" hostid="261"></div>While Banks have been consistently trying to engage the ‘new to banking’ generation - Gen Z and late millennials, building a stronger connection with them will be a key trend for banks in the coming year. As digital natives, this audience has naturally come to expect digital-first experiences that are seamless across apps and platforms. Therefore, their expectation from banking is significantly different – a near-instant fulfilment which the banks will need to accommodate through products and services, in order to address this shift in behaviour. To offer a differentiated banking suite that meets these expectations, banks will need to create simplistic and personalized solutions that can come alive by re-imagining customer journeys for this segment. Using purpose-driven marketing that appeals to their emotional motivators – their beliefs, drivers and cultural environment – banks can cater to the experiences they are looking for. In sync with this, evolving the design language and communication, with a focus on simplicity and relatability, will help establish a lasting connect. Abhishek Gupta, Chief Marketing Officer, Edelweiss Tokio Life Insurance <div type="image" title="Abhishek Gupta -- IMG_6499" msid="88592207" hostid="261"></div> Customer experience, data protection and social consciousness will be the three dominant trends for the BFSI sector in 2022. The last two years of the pandemic have recast customer expectations from brand experiences across various platforms. In line with these changes, brands will work on building consistency in CX, irrespective of the purchase or service channel. They will also make efforts on easing access to insurance by continuing to invest in multi-channel capabilities. While the pandemic has bolstered the digital opportunity, it has also raised concerns over data protection. As data becomes increasingly important for businesses, there is an improving awareness among customers regarding data privacy. With giants like Google and Apple making first move towards data protection, there is a looming threat to the efficacy of marketing campaigns. Brands will proactively craft inclusive data protection strategies so that customers can stay in control of their data. Lastly, brands will increasingly align with a social purpose that best reflects their brand values. Of all the social initiatives, Environment, Sustainability and Corporate Governance will be higher on priority list. Karthik Raman, Chief Marketing Officer and Head - Products, Ageas Federal Life Insurance <div type="image" title="Mr. Karthik Raman, CMO and Head-Products, Ageas Federal Life Insurance" msid="88608360" hostid="261"></div> The pandemic has made people realise that uncertainty in life is a reality and not just a sales pitch. Given that, the realisation of the need for insurance has increased, especially for term and health insurance. We have seen demand rising, not just in the metros and Tier 1 cities but even in the smaller towns and rural areas. With reduced spending on lifestyle expenses, people have greater disposable income in hand which they are keen on investing in financial instruments such as life insurance. Parents too, are increasingly keen on investing in child plans. Findings from our recent #FutureFearless survey have shown that the pandemic has influenced Indian parents to rethink their financial health and priorities for their children. Saving for their children’s education, future and milestones has emerged as the top priority for parents, along with saving for medical emergencies. In 2022, as an industry, we need to further capitalise on this demand. Using various platforms, especially the cost-effective digital medium, we need to further educate people and create awareness on the role of insurance in financially securing themselves and their families against life’s uncertainties, while allowing them to pursue their dreams. Nikhil Bharadwaj, Head – Corporate Communications, Bajaj Allianz General Insurance <div type="image" title="Nikhil Bharadwaj, Head - Corporate Communications, Bajaj Allianz General..." msid="88591976" hostid="261"></div> The pandemic has taught us that communication is of utmost importance not just for your customers, but also for other stakeholders including employees. Going forward, simplicity and authenticity, will be the most important part of all communication! While inclination towards digitization is increasing, print is not going away, in fact I see it making a strong come back. Digital media is surely the future and I see another year where this belief is reinforced further. In fact, we’re already listening to talks of OTT platforms of news channels, which might be something totally new with custom content. On the internal communications side, as always it remains as a tool which helps organizations provide right information to their employees. However, I feel that it will also play a role of culture builder wherein it will no longer be restricted to communications or HR team, but various other functions getting involved in it. With complex business models, we’ll see custom built communications for specific SBUs.

Marketing: Trends to watch out for in the BFSI sector in 2022

<ul><li>A recent study by <keyword id="7998812" type="UNKNOWN" weightage="20" keywordseo="Instoried">Instoried</keyword> has revealed that positive tone with <keyword id="6380299" type="PERSON" weightage="20" keywordseo="Joy">joy</keyword> as a dominant emotion worked as a foolproof combination for digital ads from the <keyword id="6356925" type="LOCATION" weightage="20" keywordseo="bfsi">BFSI</keyword> sector. </li><li>The study also found that a combination of a positive tone with joy produces an ideal piece of text that will perform strongly. This combination boosts customer engagement and promotes a wider outreach for any digital <keyword id="6354839" type="LOCATION" weightage="20" keywordseo="marketing">marketing</keyword> campaign.</li></ul><keyword id="92066" type="PERSON" weightage="20" keywordseo="Empathy">Empathy</keyword> and messages of joy go a long way when it comes to digital campaigns for the BFSI sector, according to a study by Instoried, a deep-tech platform that analyzes and predicts the emotional quotient, tonality and relevance of written content across formats like blogs, articles, <keyword id="6366786" type="UNKNOWN" weightage="20" keywordseo="social-media-posts">social media posts</keyword>. The organization's recent study was undertaken to understand the overall emotion and tonality of digital marketing communications in the BFSI sector. The study found that empathy is the secret to a successful digital marketing campaign in the BFSI sector. Over the years, and especially in the last one years, we have come to realize that emotions play a big role in consumer decision-making. There have been several studies that have focused on the impact of empathy in consumer purchasing but not many have focused on the impact of empathy in Digital marketing. The study by Instoried was aimed at understanding what is the overall emotion and tonality of digital marketing communications in the BFSI sector and if there was a correlation between empathy and performance in digital marketing. They analyzed Search Ad copies and Social media posts between Jan to May 2021 to draw their conclusions. The report is composed with the help of the organization's proprietary sentiment analysis tool which is capable of showing the percentage of different tones and emotions in a provided piece of text. As a part of the study, around 500 Google Search advertisements that ran between Jan 2021 to May 2021 from various companies of the BFSI sector and their Google Search Ad Ranks were studied. Additionally, around 5000 social media posts from various companies of the BFSI sector along with their 'likes' were also taken into consideration. Instoried’s native AI tool was used to carry out this study. Instoried is built to predict the percentage of positive, negative, and neutral tones in any piece of text. Simultaneously the tool can also analyze the percentage of emotions such as joy, anger, fear, sadness, and surprise can. Thus, by simply pasting a text in the tool, one can check for the tonality and emotional quotient. The text advertisements and captions of social media posts were pasted to obtain the tone and emotion percentage. The tonality and emotions of the social media posts were then cross-correlated with their applause rate or performance i.e, Likes. The tonality and Emotion of the search ads were then cross-correlated with their performance i.e Search Ad Rank. The study observed that the positive tone percentage is higher than the negative tone percentage in most text advertisements. The dominant emotion in the text advertisements was joy followed by fear, sadness, anger, and with the least amount of surprise. The company performing the best on Instagram and Twitter with the most number of likes was <keyword id="75577" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-Life">ICICI Prudential Life</keyword>. The dominant tone was positive and the dominant emotion was a joy. <div type="image" title="Brands" msid="83596688" hostid="261"></div> The study also noted that a positive tone not only shows confidence in the company but also boosts the confidence of the customer. Positivity sells and t is something that social media and advertisement campaigns rely majorly upon. <div type="image" title="Joy screenshot 2" msid="83596697" hostid="261"></div> Meanwhile, the increase of a negative tone decreases the applause rate. Negative words tend to bring down enthusiasm and self-confidence in a decision. Customers often find themselves in the middle of a conundrum with their decisions when they interact with a text having a heavy negative tone. Meanwhile, in terms of the role that empathy plays in Search Ad campaigns, the study noted that when the percentage of Joy is increased in a campaign, the text advertisements rank higher in search. It also noted that anger is a very strong negative emotion and affects the search ranking. Conclusion: Some of the major takeaways from the study were as follows: 1. The performance of a text advertisement depends on the tone and dominant emotion. The study concludes that a positive tone with joy as a dominant emotion, appears to work as a foolproof combination. This combination will produce more impactful text advertisements which down the line can help generate more sales and an increased ROI. 2. After analyzing the data set for social media, it was concluded that a combination of a positive tone with joy produces an ideal piece of text that will perform strongly. This combination boosts customer engagement and promotes a wider outreach for any digital marketing campaign. 3. The study makes a solid ground to claim that empathy is the secret to a successful digital marketing campaign in the BFSI sector. Speaking about the findings of the report, <keyword id="2218879" type="PERSON" weightage="20" keywordseo="sharmin-ali">Sharmin Ali</keyword>, Founder &amp; CEO, Instoried said, "Empathy is an often overlooked component in Marketing communication. Most marketers obsess over marketing copy and how it converts customers, but they don't always look at what state of mind their marketing copy puts their customers in. With this report, we wanted to explore the empathetic quotient of marketing content in the BFSI sector, a sector that has become increasingly relevant in these trying times, where more people are looking towards financial security, health insurance and increased investments. We were pleasantly surprised at finding out that most marketers communicate in a positive tone and use joy as a core emotion instead of appealing to customers' insecurities. It is also resulting in better Ad performance and social media performance for these brands. We hope more marketers look at the empathetic quotient while creating ad copies and create truly resonating content that not just converts but compels users."

Empathy is the secret to successful digital marketing campaigns in the BFSI sector: Report

Mumbai, Mar 8 () With the HR department having many responsibilities such as designing perks and benefits and supervising staff performance, the BFSI sector is witnessing growth in recruitment outsourcing, according to experts. With stringent regulations and intense competition, the process of hunting for the right talent becomes a daunting task for the banking, financial services and insurance (BFSI) sector, TeamLease Services Vice-President (Recruitment Services) Ajay Shah told here. He added that therefore, to optimise talent acquisition efforts, the sector has started shifting towards outsourcing of hiring. Recruitment outsourcing is a fast-growing industry in India and is projected to see an annual growth of 25-35 per cent, he said adding that going by the current trends, more than 70 per cent of the country's employers are likely to outsource all or part of their hiring process in the next five years. Moreover, he said that as the human resource (HR) department shoulders many important responsibilities like postings or transfer, training programmes, supervising promotions, designing perks and benefits, disbursal of retirement benefits, supervising the performance of staff, and implementing effective HR policies, the recruitment outsourcing process has become vital for the BFSI sector. Echoing a similar view, Michael Page India Director Nitin John Abraham said large-scale volume requirements that tend to be siloed function-wise gave a boom to the outsourcing of the recruitment process. "Outsourcing of the hiring process is expected to grow as it is a very cost-effective solution for large-scale volume appointments. Also, especially in the Indian market, where you have a lot of issues in terms of candidates backing out, taking multiple offers, it does require a dedicated person or group of people to manage the hiring process," he added. CIEL HR Services CEO Aditya Narayan Mishra said the outsourcing trend is not only being adopted by the BFSI sector, but also by information technology, consumer products, services, manufacturing and pharmaceutical sectors. "Many BFSI companies have limited their HR teams to strategic work of talent acquisition such as workforce planning while the execution of these plans are assigned typically to a leader for talent acquisition (TA). This TA leader usually has a small team to execute the hiring process and they usually outsource it," he added. Executive search organisation GlobalHunt Managing Director Sunil Goel said the outsourcing of hiring is growing because of fluctuating talent demand in the BFSI sector. "During April to September, maximum number of hiring takes place in the BFSI sector. The spike in demand for resources makes the organisation to recruit specialised teams and outsource support from vendors having diverse knowledge and are fast," he said. Other sectors, such as IT, IT-enabled services, and new-age start-ups are also looking up to this concept of recruitment to manage hiring challenges, he added. SM HRS

BFSI witnesses growth in outsourcing of hiring process

<keyword id="6354185" type="ENTERTAINMENT" weightage="100" keywordseo="IT">IT</keyword> industry would produce maximum number of <keyword id="11018" type="COMPANY" weightage="100" keywordseo="Jobs">jobs</keyword> in the second half of 2015, the <keyword id="3021389" type="UNKNOWN" weightage="100" keywordseo="NaukriHiring">NaukriHiring</keyword> Outlook Survey August 2015 has revealed. According to the survey 41 per cent of recruiters and consultants see maximum hiring potential in this industry. 

	66 per cent of recruiters expect new jobs to be created in the second half of 2015, a slight dip compared to the 69 per cent in the first half of 2015.
 

	The half yearly survey which gauges the hiring sentiment across sectors and industries, was conducted amongst more than 1900 recruiters and consultants. 
 

	A similar trend was seen in the BFSI sector as well, where the percentage slipped from 28 per cent in the previous period to 19 per cent in the current period. The percentage of participants expecting new jobs to be created in the manufacturing sector remained constant at 26 per cent. The top five sectors from a perspective of job creation are IT, followed by manufacturing, retail, ITeS and BFSI. 
 

	"The growth in hiring activity is led by the BFSI and IT industries and is most likely to continue in favour of jobseekers. The increase in opportunities has led to higher increments in certain industry segments. The crunch for mid and senior level talent, however, continues," Sumeet Singh, EVP - Marketing and Corporate Communications, Info Edge (India) told PTI.

	 
	 
	(Image credits: Indiatimes)

IT industry holds the maximum potential of creating new jobs: NaukriHiring Outlook Survey

Freshers have a reason to rejoice. Recruiters expect campus hiring to pick up this year following a lean season in fresher hiring last year. 
	 “We are expecting companies to increase their <keyword id="110909" type="UNKNOWN" weightage="20" keywordseo="campus-recruitment">campus recruitment</keyword> activity this year over last year as the overall economic situation has improved,” said V Suresh, executive vice president and chief sales officer of Naukri.com. 
	 He explained that since the <keyword id="2730532" type="UNKNOWN" weightage="20" keywordseo="NaMo-government">NaMo government</keyword> has taken measures to boost the economy, the markets are expecting stalled as well as new projects to take off. According to India Skill Report 2015 by online skill assessment firm, Wheebox, campus hiring will go up by nearly 18% to 23% in FY 16. The report also suggested that there will be an overall increase of 23% in the hiring activity for 2015. 
	 
	In terms of the sectors, industry experts expected the banking and financial services industry (BFSI) sector to be one of the major recruiters for new entrants in the job market. 
	 
	“We expect the manufacturing sector to increase its activity as there have been some positive announcements made for the sector. We expect companies to invest in this sector, thus giving the much needed thrust to the projects, which in turn will push upthe recruitment activity in both manufacturing as well as BFSI sector,” explained Suresh. 
	 
	Apart from BFSI, traditional recruiters for fresher such as IT, ITes will also continue the trend. Recruiters also noted that eCommerce will also become one of the major employers for new entrants in the industry. 
	 
	“eCommerce is doing extremely well in the country and we see a lot of new companies in this sector. Hence, this one too will bet big on fresher,” added Suresh. 
	 
	Talking about domain wise hiring, India Skill report 2015 revealed that there will be a surge in hiring of diploma graduates. The industry also expected a small increase in the recruitment of engineers and ITI candidates in the market. However, the recruitment drive at the entry-level will be driven by general management graduates which will form about 60% of overall hiring numbers. 
	 
	“For sectors like core and consumer durable sectors, there does not seem to be any major change in the overall hiring mix, except that the core sector is planning to hire more management graduates. Considering that the sector is expecting a significant growth in the coming year, it makes absolute sense to have management graduates onboard who can help in managing this change,” stated the report. 
	 
	It should be noted that the as per market estimates, the hiring activity recorded a 10% increase in February 2015 over the corresponding month last year.

More freshers to be hired this year by India Inc.
Here’s why

According to an <keyword id="6355988" type="CITY" weightage="100" keywordseo="Assocham">Assocham</keyword> study, <keyword id="6354780" type="ENTERTAINMENT" weightage="100" keywordseo="Karnataka">Karnataka</keyword> has been ranked as the country's top job creating state with over 24 per cent share during the fourth quarter of the last fiscal. 
 It is followed by <keyword id="13126" type="COMPANY" weightage="100" keywordseo="Maharashtra">Maharashtra</keyword> (23 per cent) and <keyword id="20154" type="ORGANIZATION" weightage="100" keywordseo="tamil-nadu">Tamil Nadu</keyword> (10.5 per cent), said the study. 
 
Information technology (IT) sector created about 57 per cent of about nine lakh job openings recorded between January-March, 2016, followed by services (19 per cent) and manufacturing (11 per cent), according to the report. 
 
Banking, financial services and insurance (BFSI) sector accounted for just over eight per cent share followed by construction and real estate (3.5 per cent share). 
 
Within Karnataka, ITEs accounted for over 65 per cent share in job openings across the state followed by services (16 per cent), manufacturing (eight per cent), BFSI (six per cent) and construction and real estate sector (2.5 per cent). 
 
The Assocham Economic Research Bureau (AERB) had analysed the data sourced from vacancies posted by companies via various job portals together with advertisements offering employment opportunities published in national and regional dailies across India. 
 
Karnataka had recorded 2.16 lakh job openings in the first quarter of the last fiscal followed by Maharashtra (two lakh), Tamil Nadu (93,000), Andhra Pradesh and Telangana region combined (82,000) and Haryana (72,000). 
 Sector-wise, Karnataka leads in terms of job openings in ITES sector with 28 per share in over five lakh <keyword id="11018" type="COMPANY" weightage="100" keywordseo="Jobs">jobs</keyword> created by the sector followed by Maharashtra (20.5 per cent), Tamil Nadu (11 per cent), Andhra Pradesh-Telangana (10 per cent) and Uttar Pradesh (eight per cent), it said. 
 
Services sector recorded 1.69 lakh jobs in January-March quarter of 2015-16 with Maharashtra accounting for the "lion's share" of about 24 per cent followed by Karnataka (21 per cent), Haryana (8.4 per cent), Uttar Pradesh (8.2 per cent) and Andhra Pradesh-Telangana (8.1 per cent). 
 
In manufacturing sector, Maharashtra has recorded highest share with 22.5 per cent in over 99,000 job openings, followed by Karnataka (19 per cent), Tamil Nadu (12 per cent), Andhra Pradesh-Telangana (nine per cent) and Gujarat (eight per cent). 
 
Maharashtra also topped with highest share in job openings recorded in BFSI and construction and real estate with a share of about 31 per cent in both sectors each, while Karnataka followed with a share of 18 per cent and 17 per cent respectively, it added.

Karnataka is the country's highest job creator, says study

These qualifications will help you snag the best paying tech jobs in BFSI sector

<ul><li>A positive outlook in the hiring trend was seen only after April when India was struggling with the fatal second wave of virus infections.</li><li>Most of the sectors in India, which were badly affected by the COVID-19 pandemic, also showed a strong positive recovery post the pandemic phase.</li><li>Production/Manufacturing and Banking, Financial Services and Insurance (BFSI) emerged as the most actively hiring sectors in 2021, registering a 31% increase in e-recruitment activity.</li></ul>The year 2021 can be marked as the phase of improvement and recovery after the setback of the COVID-19 pandemic. The impact spanned across industries and markets, also weakening the online job demand. A positive outlook in the hiring trend was seen only after April when India was struggling with the fatal second wave of virus infections. However, as per Pawan Goyal, the chief business officer of the employment website Naukri.com, hiring between January and November 2021 saw year-over-year growth of 60% in India. Most of the sectors in India, which were badly affected by the COVID-19 pandemic, also showed a strong positive recovery post the pandemic phase. A positive growth trend has been observed on a national level since May 2021. <cmsannotation type="cmsannotation" annotationid="IT, manufacturing, BFSI sectors saw the maximum growth in terms of workforce expansion" comment="subhead" text="IT, manufacturing, BFSI sectors saw the maximum growth in terms of workforce expansion">IT, manufacturing, BFSI sectors saw the maximum growth in terms of workforce expansion</cmsannotation> “Production/Manufacturing and Banking, Financial Services and Insurance (BFSI) emerged as the most actively hiring sectors in 2021, registering a 31% increase in e-recruitment activity. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year-on-year growth </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom/ISP </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">27% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Automotive/Ancillaries/Tyres </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT - Hardware, Software </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPO/ITES </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody><tr id="last-child" class="last-child"><td contenteditable="false" colspan="3">Edit</td></tr></tbody><tbody><tr id="last-child" class="last-child"><td contenteditable="false" colspan="3">Edit</td></tr></tbody></table> Telecom/ISP sector followed closely charting 27% growth, while Automotive/Ancillaries/Tyres industry, IT - Hardware, Software and BPO/ITES industry recorded 25%, 23% and 18% growth respectively”, said Sekhar Garisa, chief executive officer (CEO) of Monster.com, another job and employment platform. The automotive sector saw a rise in job postings even when the sector was in slowdown.“ Vehicle launches in hybrid, EV and SUV segments are all gaining traction thereby increasing customer interest and demand. Companies are sitting on advance orders running anywhere from a 2-9 month waiting period for some models, some of which are also accentuated by the global chip crisis. Hence, organisations are hiring due to this enhanced demand, which once the chip crisis is behind us, will show up in automobile sales numbers. ” said Lohit Bhatia, president - workforce management at Quess Corp. Other than IT, manufacturing and BFSI sectors, e-commerce, retail also picked up pace in hiring this year, as there was a rapid improvement in consumer sentiment. <cmsannotation type="cmsannotation" annotationid="Hospitality, Travel and Tourism remained as one of the least growing sectors" comment="subhead" text="Hospitality, Travel and Tourism remained as one of the least growing sectors">Hospitality, Travel and Tourism remained as one of the least growing sectors</cmsannotation> The imposition of lockdown during the second wave led to a halt in outings, tours, vacations and all types of travel in general. “Hospitality sector, travel and tourism and aviation sector remained one of the most severely affected sectors,” Ajay Thomas, business head at TeamLease Services, told Business Insider. He said, “The travel and tourism sector that employs millions of Indians started bouncing back after the first wave, but little did they know that COVID-19 would be back for the second round of devastation. Aviation and other travel sector establishments faced a massive struggle during the pandemic.” Overall annual growth of the medical/healthcare sector was also slow as compared to other sectors. “ Annual growth was comparatively slower for sectors like Medical/Healthcare and Pharma/Biotech. These two sectors were at the forefront during the pandemic, and demand was not as impacted in 2020 when compared to other industries, thus their growth trajectory, while positive, was not as steep,” said Goyal of Naukri.com. <cmsannotation type="cmsannotation" annotationid="Hiring of freshers" comment="subhead" text="Hiring of freshers">Hiring of freshers</cmsannotation> The year 2021 saw opening the door of opportunities for recent graduates or freshers once again. Overall there was a growth of 12% in freshers hiring this year as compared to the last year, according to Garisa of Monster.com. Sectors like IT, software-hardware hired the maximum number of freshers this year, while, BPO, call centre, customer service demonstrated subdued demand for freshers. <cmsannotation type="cmsannotation" annotationid="Overall hiring trend for experienced professionals" comment="subhead" text="Overall hiring trend for experienced professionals">Overall hiring trend for experienced professionals</cmsannotation> According to Goyal, hiring for senior professionals with 8-12 years experience saw the highest uptick across all levels followed by mid-management professionals with 4-7 years experience. <cmsannotation type="cmsannotation" annotationid="Bangalore saw the maximum growth and Delhi saw the least among metro cities" comment="subhead" text="Bangalore saw the maximum growth and Delhi saw the least among metro cities">Bangalore saw the maximum growth and Delhi saw the least among metro cities</cmsannotation> According to Monster.com, all the metros except Kolkata charted double-digit growth. Bangalore led with a 42% point rise, tailed by Chennai (30%), Pune (29%), Hyderabad (24%), Mumbai (20%) and Delhi-NCR (18%) this year as compared to last year. <cmsannotation type="cmsannotation" annotationid="Ahmedabad saw the maximum growth among non-metros" comment="subhead" text="Ahmedabad saw the maximum growth among non-metros">Ahmedabad saw the maximum growth among non-metros</cmsannotation> Ahmedabad recovered the fastest among Tier 2 cities, growing by 90% annually, followed by Chandigarh (40%), Kochi (39%). While Jaipur saw the least growth with 29% followed by Coimbatore (35%) and Vadodara (37%). <cmsannotation type="cmsannotation" annotationid="Attrition rate among different sectors" comment="subhead" text="Attrition rate among different sectors">Attrition rate among different sectors</cmsannotation> Various studies show that the attrition rate in India rose from 10% in 2020 to 20% in 2021. Attrition rate means the number of employees leaving the organisation or company. The IT sector in India witnessed the highest attrition rate in the year 2021 as compared to other sectors. Whereas, the media and entertainment industry enjoyed the least attrition rate this year, according to Monster.com. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/british-neobank-tide-wants-to-hire-600-techies-and-business-execs-in-hyderabad-and-gurugram/articleshow/88392005.cms">British neobank Tide wants to hire 600 techies and business execs in Hyderabad and Gurugram</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/covishield-vaccine-not-as-effective-after-three-months-so-consider-booster-shot-says-lancet-report/articleshow/88404738.cms">Lancet article makes a case that those who took Covishield vaccine need booster shots</a>

Thank these sectors for the biggest rise in formal jobs this year so far

<ul><li><keyword id="1274746" type="General" weightage="20" keywordseo="non-tech-companies" source="Orion">Non-tech companies</keyword> are actively recruiting <keyword id="65554" type="General" weightage="20" keywordseo="tech-talent" source="Orion">tech talent</keyword>, says a TeamLease report.</li><li>Apart from BFSI and consulting, most new tech jobs are expected to come from media, retail and consumer businesses, healthcare and more.</li><li>Employers seek proficiency in cloud-based services, robotic automation transformation, and AI experts. </li></ul>The year of 2023 has not been good for techies. Not only did Google, Amazon and Microsoft lay off thousands of employees — Indian tech majors are staring at <a href="https://www.businessinsider.in/business/corporates/news/infosys-sees-4-7-revenue-growth-in-fy24-after-it-misses-its-own-fy23-revenue-guidance/articleshow/99467637.cms">slower growth this financial year, indicating </a>a bleaker hiring outlook. But, there is a silver lining. It’s not just the <keyword id="15935" type="General" weightage="20" keywordseo="tech-companies" source="Orion">tech companies</keyword> that are in need of tech talent. As automation becomes all-pervasive, many sectors are stepping up their tech hiring. And this would more than make up for the void, says a TeamLease report Over a million tech professionals (11.15 lakh) are expected to be hired by sectors like BFSI and consulting; communication media and technology; retail and consumer business; life sciences and healthcare; engineering research and development (ER&amp;D); and energy and resources; by FY27-28. “Non-tech companies are recognizing the importance of technology in various sectors and are actively recruiting experienced tech talent to remain competitive and improve productivity and efficiency,” said the report titled ‘Digital People Supply Chain Report - Tech in Non Tech for H1-2024’. The report says that these jobs are expected to grow at 7.53% CAGR. As of now, all the sectors put together employ over 0.7 million (7.65 lakh) tech experts. Where are the tech jobs? As more and more businesses are relying on data and analytics to make critical growth decisions, it’s leading to a growing need for tech-enabled infrastructures in non-tech industries. “This has led to a surge in tech hiring, with an increase in job opportunities and salaries in non-tech companies,” the report said. At present, BFSI and consulting employs an estimated 2 lakh tech professionals, followed by retail and consumer business (1.85 lakh), engineering R&amp;D (1.43 lakh), life sciences and healthcare (1.05 lakh), communications media and technology (0.9 lakh), and energy and resources (0.42 lakh). “While there is a surge in jobs, the dearth of skilled talent continues to be a challenge for the industry. Beyond tech hiring, organizations need to invest in broad tech upskilling and lay the foundation for a skill based talent management system. Surprisingly, currently in the non tech sector, the majority of hiring is still not on permanent payrolls,” says Munira Loliwala, business head - specialized staffing, TeamLease Digital. Employers seek proficiency in cloud-based services, robotic automation transformation, and AI at all levels. Most entry-level positions require basic knowledge of programming languages and experience with content management systems. However, senior-level positions demand AI, machine learning, and blockchain cybersecurity skill sets. Retail and consumer businesses are expected to have the fastest growth rate and will employ the largest number of tech professionals by FY27, with an estimated 2.9 lakh. Following closely behind are BFSI and consulting, projected to employ 2.75 lakh. This is followed by engineering R&amp;D (1.9 lakh), life sciences and healthcare (1.55 lakh), communications media and technology (1.4 lakh), and energy and resources (0.65 lakh). The most in-demand job roles <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Job roles in demand </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> BFSI and Consulting </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Data Engineer, Business Analyst and Solutions Architect </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Communication and Media Technology </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UI/ UX Designer, Fullstack Developer, Game Developer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail and Consumer Business </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Graphic Designer, Data Scientist and Fullstack Developer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Life Sciences and Healthcare </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Data Scientist, Java Developer and QA Engineer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Engineering Research and Development </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Embedded Software Engineer, CAD Engineer and Automation Engineer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Energy and Resources </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Big Data Analyst, IT Infrastructure Engineer and Software Developer </td></tr></tbody></table> Lucrative salaries on offer The BFSI &amp; Consulting division offers higher salaries to employees with more experience, with a particular emphasis on senior roles. Most in-demand technical positions see a significant increase in pay from entry-level to senior-level experience. Here, entry level roles may offer salaries between ₹7.5 lakh to ₹11 lakh, while it may go up to ₹33 lakh at the senior level. In communication and media technology, the positions of embedded developer and DevOps engineer offer the most significant pay and salary advancement among all job levels. Additionally, the embedded developer job title receives the highest starting salary compared to other job titles, with a rate of ₹11 lakh per annum. On the other hand, Cloud Solutions Architect roles have stable compensation across all experience levels, particularly those related to cloud-based work. The retail and consumer division exhibits impressive increases in payouts, particularly for mid to senior-level positions.

Over a million jobs await techies & it’s not tech cos that are hiring them

<ul><li>The IT sector’s wage bill growth fell to 3% in Q3 FY24 from 22% in the same quarter last year.</li><li>Sectors like <keyword id="19931572" type="General" weightage="20" keywordseo="fmcg" source="keywords">FMCG</keyword>, metals, power, cement, pharma, chemicals also saw single digit wage growth in Q3.</li><li>The <keyword id="19910880" type="General" weightage="20" keywordseo="bfsi" source="keywords">BFSI</keyword> sector remained an outlier as its wage bill growth was strong at 22% in Q3.</li></ul>The age of sharp salary hikes seems to be over. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>’s top 500 listed private companies’ wage growth has moderated to 9% year on year in the third quarter of FY24. Including public sector enterprises, BSE500’s wage inflation slowed to 11%. In the same quarter last year, it was at 20%, says a report by <keyword id="20055355" type="General" weightage="20" keywordseo="nuvama-institutional-equities" source="keywords">Nuvama Institutional Equities</keyword>. “The worrying aspect of wage bill growth is the sharper moderation in private sector wage bill growth. Private sector wage bill growth has moderated to 9% YoY—a decadal-low (ex-Covid). Such a sharp slowdown, if it persists, could weigh on consumption, particularly the premium segment,” says <keyword id="19895773" type="General" weightage="20" keywordseo="nuvama" source="keywords">Nuvama</keyword>’s Q3FY24 Earnings Review. Unsurprisingly, the IT sector saw the most moderation, as its wage bill growth in Q3 at just 3% year on year. In the corresponding quarter last year, it was at 22%. “For IT companies, headcount is now contracting year on year. While this could bottom out, sustained recovery is needed for its revival,” said Nuvama. As per Xpheno, the top eight IT services firms in India<a href="https://www.businessinsider.in/careers/news/it-bellwethers-slash-headcount-in-fy24-but-indian-techies-find-a-home-with-gccs/articleshow/107679515.cms"> reduced their headcount by</a> 75,000 in the last one year. Sectors like FMCG, metals &amp; mining, power, cement, pharma, chemicals saw single digit wage growth. “Wage bill growth is moderating in most other spaces as well. For most sectors, wage bill growth is below the levels seen a year ago,” said Nuvama. On the other hand, sectors like auto, consumer services, durables and real estate sector saw double digit wage bill growth in the quarter. BFSI sector remains an outlier The only sector which saw strong wage bill growth in Q3 is banking, financial services and insurance sector; which came in at 22%. The average annual attrition in the sector is still high, at around 30-35%. In private banks, it’s <a href="https://www.cnbctv18.com/business/companies/rbi-closely-watching-high-attrition-at-some-private-banks-says-shaktikanta-das-18207931.htm">much more pronounced</a> at 40-45%. While private sector banks saw their wage bill go up by 23%, in PSU banks, the growth was at 20%. Financial services, however, saw its wage bill go up by 29%. Wage bill growth <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 FY24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 FY23 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BFSI </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metals &amp; Mining </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Energy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Durables </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FMCG </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industrials </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cement </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Real estate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pharmaceuticals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr></tbody><tbody></tbody></table>Source: Capitaline, Nuvama Research Dwindling EBIDTA growth The Nuvama report also says that in the third quarter, BSE500’s revenue growth remained subdued at 6-7%, similar to what was seen in the first half of FY24. The earnings before interest tax depreciation and amortization (EBIDTA) growth on other hand, dwindled to 10% from 20% seen in the first half. “This is mainly due to fading input price tailwinds and operating de-leverage. PAT growth, however, held up in high teens. All in all, chinks are developing in profit momentum with EBITDA slowing sharply as margin tailwinds fade while demand fails to recover,” Nuvama said. Even as the aggregate profit growth held up to 16% YoY in Q3, a weak revenue growth does not spell good news for corporate employees who are hoping for a chunky wage hike. “Given a weak top line, wage bill growth is likely to remain subdued going ahead as well, potentially weighing on urban consumption,” says Nuvama.

India Inc’s wage bill growth halves in Q3, close to decadal lows

<ul><li>Average ad volumes/day spiked more than 2 folds on Radio in Jun’20 over Apr’20. </li><li>This hike in ad volumes on radio is driven by the Banking, financial services and insurance (BFSI) sector. </li><li>In Jun’20, Nagpur, Indore and Vizag witnessed a 2 fold ad volume growth.</li><li>Ad volumes on Radio started resurging from week 21 after its minimum on week 20-week 25 recorded its highest peak.</li></ul>The lockdown led to a lot of ad spends being cut down. Sectors like experiential and OOH witnessed almost a complete shutdown. Traditional mediums like radio and print also bore the brunt. However, TAM’s latest report shows that radio is bouncing back. Average ad volume/day in May’20 rose by 8% compared to Apr’20. This upsurge in <keyword id="2735725" type="PERSON" weightage="20" keywordseo="radio-ads">radio ads</keyword> is driven by the Banking, financial services and insurance (BFSI) sector. <div type="image" title="radio report - tam" msid="77064133" hostid="261"></div> Life Insurance category topped the list with 8% share of ad volumes followed by ‘EcomMedia/Entertainment/Social Media’ with 5% share. Ad volumes for 2 out of Top 10 categories spiked during Apr-Jun'20 compared to Jan-Mar’20 on Radio. Among the Top 10 categories, Personal/Professional Loans had the highest surge in Ads i.e., 74 times during Apr-Jun'20 compared to Jan-Mar’20. Mortgage Loans also recorded 42% rise in ad volumes on Radio. <div type="image" title="tam report radio" msid="77064165" hostid="261"></div> SBI was the top advertiser with 9% share on radio, followed by LIC at 7%. Among the Top 10 advertisers, ad volumes for SBI rose by 46% on Radio during Apr-Jun’20 compared to Jan-Mar ’20. There were 6 new entrants in the Apr-Jun’20 compared to Jan-Mar’20. <div type="image" title="tam on sbi" msid="77064184" hostid="261"></div> In 4 Metro Cities, ad Volumes on Radio saw a drop of 82% during Apr-Jun ’20. Here, Covid's impact was more noticeable compared to Cities excluding 4 Metros. Considering cities other than 4 Metros, the decline in ad volumes stands at 74% i.e., 8% less compared to 4 Metros. However, Ad volumes for all 18 Cities saw a growth in Jun'20 over May'20. In Jun’20, Nagpur, Indore and Vizag witnessed 2 fold ad volume growth. <div type="image" title="top city on radio" msid="77064219" hostid="261"></div>

Radio is bouncing back; ad volumes return from BFSI category: Report

<ul><li>Indian Institute of Management (IIM) Ahmedabad, <keyword id="8754640" type="COMPANY" weightage="20" keywordseo="xaviers-school-of-management">Xaviers School of Management</keyword> (XLRI) and <keyword id="481185" type="COMPANY" weightage="20" keywordseo="Management-Development-Institute">Management Development Institute</keyword> (MDI) — say they have attracted the most promising job packages from consulting firms. </li><li>Consulting majors McKinsey &amp; Company, <keyword id="136162" type="COMPANY" weightage="20" keywordseo="Boston-Consulting-Group">Boston Consulting Group</keyword> (BCG) rolled out 50 offers at <keyword id="19483" type="COMPANY" weightage="20" keywordseo="IIM-ahmedabad">IIM Ahmedabad</keyword>. </li><li>XLRI also attracted the highest number of offers from the consulting domain (26%). Global multinationals KPMG and PwC topped the charts. </li><li>More than half (57%) of the offers at MDI came from companies in the consulting, BFSI, technology and telecom sectors and the average compensation too increased by 9.5% at ₹ 2.2 million.</li></ul>India’s top business schools — Indian Institute of Management (IIM) Ahmedabad, Xaviers School of Management (XLRI) and Management Development Institute (MDI) — say they their students received the most promising job offers from consulting firms. Consulting majors McKinsey &amp; Company, <keyword id="169297" type="COMPANY" weightage="20" keywordseo="Boston-Consulting">Boston Consulting</keyword> Group (BCG) rolled out as many as <a href="https://economictimes.indiatimes.com/jobs/iima-concludes-cluster-1-placement-mckinsey-bcg-top-recruiters/articleshow/74024154.cms">50 offers at IIM Ahmedabad</a>. This includes the pre-placement offers as well. Other recruiters included Accenture Strategy, Bain &amp; Co., Credit Suisse, Goldman Sachs and Deloitte. This is as per the Cluster1 placements at the IIM-A campus — which was concluded in four cohorts — investment banking and markets, management consulting, advisory consulting and private equity, venture capital and asset management. “Consulting firms continued to hire in large numbers in the first cluster, offering management consulting roles across geographies including Malaysia and Middle East,” the institute said. It’s not just the IIMs This has become a common trend across B-schools. XLRI also attracted the highest number of offers from the consulting domain at 26%, this year. Global multinationals KPMG and PwC were the top most recruiters, rolling out the highest number of offers. This simply mirrored last year’s trend wherein Boston Consulting Group was the leading recruiter. On the other hand, more than half (57%) of the offers at MDI came from companies in the consulting, BFSI, technology and telecom sectors. The average compensation at the institute too increased by 9.5% at ₹ 2.2 million. This includes 63 offers from PwC, Deloitte, ICICI Bank, IDFC Bank and Airtel. Last year too, IIM Bangalore reportedly scored over 30% placements in the consulting sector — including overseas job offers. Investment banking follows Banking, Insurance and Financial Services(BFSI ) is the second biggest chunk of recruiters. At IIM-A, Avendus and JP Morgan Chase &amp; Co offered 18 job letters. At XLRI too BFSI which recruited 17%, also turned out to be the highest paymaster. It offered domestic salaries as high as ₹5 million. “The increase in BFSI hiring can be attributed to a higher number of candidates opting for the finance specialization and a vibrant appreciation for finance in the form of finance associations and an in-house XLRI Student Investment fund,” XLRI said. Overall, this placement season has been a fruitful one so far. Several management institutions — including IIM Lucknow, IIM Kozhikode, MDI, XLRI — clocked in 100% placements in the first week. See also: <a href="https://www.businessinsider.in/careers/news/xlri-students-bag-domestic-and-international-job-offers-with-salaries-over-50-lakhs/articleshow/73974506.cms">XLRI students bag domestic and international job offers with salaries over ₹50 lakh</a> <a href="https://www.businessinsider.in/careers/news/iim-lucknow-iim-kozhikode-mdi-gurgaon-secure-100-placements-offering-2-5-million-as-the-starting-pay/articleshow/73722200.cms">Indian B-schools are beating the slowdown with average salary offers at ₹2.5 million</a> <a href="https://www.businessinsider.in/careers/news/amazon-becomes-the-top-recruiter-at-mdi-gurgaon-with-a-40-5-lakh-offer/articleshow/73545137.cms">Amazon becomes the top recruiter at MDI Gurgaon with a ₹40.5 lakh offer</a>

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