In 2023, second and third-tier Indian colleges experienced a 7% yearly increase in campus placements, according to a survey conducted by the HR Tech platform, GetWork. The study showed that recruitment figures climbed to 12,050 from the previous year’s count of 11,310. This report examined the primary hiring trends from January to November 2022 and 2023 in 262 of these colleges, involving 730 employers and 1,90,482 students.
The survey also indicated that the Banking, Finance, Securities, and Insurance (BFSI) sector, followed by healthcare, manufacturing, pharmaceuticals, and retail, had the most job openings in 2023. The most sought-after job roles included business development executive, data analyst, customer service executive, and digital marketing intern. However, there was a decrease in job offers from startups for students in second- and third-tier colleges.
GetWork noted that 2023 was a year of significant alterations in the recruitment scene, characterized by a high employee turnover rate and the integration of advanced technologies like GenAI. Rahul Veerwal, CEO and founder of GetWork, commented on the report, stating that the rise in placement numbers attests to the abundant talent in second- and third-tier colleges and the evolving recruitment strategies of corporations. He credited this increase to GetWork’s use of advanced data analytics, which helped in identifying the right candidates for appropriate opportunities and pre-assessing them to create a ready pool for enterprise clients.
Looking forward to 2024, Veerwal anticipates that the BFSI and Healthcare sectors will see rapid growth, and the EMPI (Engineering, Manufacturing, Process, and Infrastructure) sector is set to experience unprecedented expansion. He predicts 2024 to be a promising year for employment with a surge in recruitment in the automobile, manufacturing, Oil and Gas, and Infrastructure sectors. Additionally, he forecasts that new-age job roles like Artificial Intelligence and Machine Learning engineer, Digital Marketer, Healthcare Professional, and Human Resource manager will be the most in-demand next year. The report reiterated that Banking Finance Securities and Insurance (BFSI), followed by Healthcare, Manufacturing, Pharmaceuticals, and Retail, were the industries with the highest job vacancies in 2023.
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