India sees 33% annual increase in diversity in hiring, driven by BFSI and IT sectors


found it (formerly Monster APAC & ME), India’s leading talent platform has released its latest Foundit Insights Tracker (fit) for June 2024. This month, the tracker highlighted significant growth in diverse hiring in India, with a 33% increase year-on-year, underscoring the growing importance of diversity and inclusion (D&I) policies by companies.

In addition, the overall hiring index rose from 295 in May 2024 to 302 in June 2024. There has been a 12% increase in hiring year-on-year, indicating strong momentum in employment opportunities. Hiring has grown by 15% over the past six months, reinforcing a positive outlook for 2024. These trends highlight the dynamism and growth nature of the Indian labour market.

Responding to the remarkable progress in hiring diverse staff by June 2024, Sekhar Garisa, CEO, Foundit (formerly Monster APAC & ME), a Quess companysaid, “The 33% YoY increase in diversity hiring underscores the critical role D&I policies play in shaping today’s Indian workforce. We applaud Indian companies for prioritising inclusivity and achieving such significant growth. Looking ahead, we expect to see an even deeper focus on inclusion through initiatives like mentorship and leadership programs for underrepresented groups and bias training at all levels. Companies can lead with innovative approaches like D&I labs or councils to deepen inclusion efforts, and reverse mentorship programs, where young employees from diverse backgrounds mentor senior leaders. These initiatives will enable companies to create truly inclusive workplaces and set the stage for a vibrant and equal workforce in India. We are proud to support this transformative evolution and are committed to helping employers create inclusive workplaces.”

BFSI and IT Software & Services industries are leading the way in hiring diverse workforce

In recent years, Indian companies have emphasized hiring candidates from diverse groups, including women, LGBTQIA+ and persons with disabilities (PwD). This highlights the importance of diversity and inclusion (D&I) policies in companies. Despite some fluctuations, the overall trend remains positive, with significant spikes during Pride month in June 2023 (37%) and May 2024 (57%), reflecting significant diversity initiatives.

Industries that showed the largest increase in diversity in job openings are BFSI and IT-Software & Services (IT-ITeS), with 30% and 19% of jobs respectively.

Additionally, companies are adopting structured D&I programs, such as anti-bias training, diverse interview panels, and targeted hiring to encourage and recognize underrepresented groups. Job ads now use inclusive language, such as recording a candidate’s preferred pronoun, to prevent gender bias. Other industries that have seen high levels of diverse representation include healthcare (6%), internet/e-commerce (4%), and education (3%).

Industry % share of diversity jobs
BFSI 30%
IT software and services 19%
healthcare 6%
Internet/E-commerce 4%
Education 3%

Metros like Bengaluru, Delhi-NCR and Mumbai are leading the way as diversity hiring hubs, with a large chunk of jobs dedicated to women, people with disabilities and the LGBTQIA+ community. Within the diversity hiring trend, there is also a notable focus on promoting women to leadership roles through mentorship and specialized training.

Other cities that offer significant employment to marginalized communities include Pune, Hyderabad and Chennai. The data also shows that 16% of remote work is dedicated to people with disabilities, demonstrating the benefits of working in location-agnostic companies.

The prospects for hiring with a diversity perspective are bright. With the emphasis on D&I policies, technology integration and regional expansion, we can expect to create a more inclusive and dynamic workforce in India.

Top locations for recruitment % share of jobs
Women People with disabilities D&I*
Bangalore 10% 8% 16%
Mumbai 15% 15% 11%
Chennai 5% 4% 7%
Hyderabad 6% 3% 10%
Poona 19% 6% 16%
Delhi/NCR 14% 22% 9%
At a distance 10% 16% 7%

*D&I: The PwD and Women categories refer to jobs that are exclusively for people with disabilities and women. The D&I category now includes LGBTQIA+ individuals, women, PwD, and others.

The textile industry boom is fueling the continued growth of India’s manufacturing and production sector

On a month-on-month basis, the textiles and apparel sector witnessed remarkable growth with a 16% increase in job openings, fueled by technological advancements, sustainability initiatives, government support and growing domestic and export markets. Tier-II cities such as Surat saw a growing demand for roles in the textiles and apparel industry. The growth of the textiles and apparel sector has also contributed to the rise of India’s manufacturing and production sector. The remarkable 43% YoY increase in job openings in the sector was also driven by investments in the automotive and consumer electronics sectors. The increased demand is not only evident in the manufacturing sector but also in related industries such as consumer electronics, which saw a 28% YoY growth in job openings.

The Construction & Engineering sector has also seen a 29% increase in job openings over the past year, fueled by sustainability and green initiatives. On the other hand, the Agriculture sector has faced multiple challenges in terms of hiring over the past year, with a significant drop of 18% in June 2023. However, recent months have shown signs of gradual recovery, with the decline slowing down from April 2024 onwards. Growth in organic farming and advanced Agri-Tech, along with e-farming applications, is responsible for this positive trend. Other sectors that saw a downward trend in hiring include Shipping/Marine (-31%), FMCG (-5%) and Import/Export (-15%).

New hotel and airport operations drive job growth in hospitality, marketing and communications sectors

With the introduction of new hotel and airport operations across India, the hospitality sector is gearing up to cater to the growing influx of tourists. Hospitality roles (36%) are experiencing high demand, driven by the need for experienced leaders to manage hotel operations. This demand is further bolstered by the nearly 100 new hotel properties expected to open by leading hospitality companies this fiscal. In addition, there is significant demand for hospitality roles at airports, fueled by the development of new airports in tier 2 and tier 3 cities.

Other roles that have seen positive growth in job openings include Marketing & Communications, where the tracker has indicated a 24% year-on-year increase and a 5% monthly increase from May 2024 to June 2024. Job openings for marketing and communications roles have increased due to the growing need for brands to create a strong digital presence and connect with their audiences online. The rise of social media, digital marketing and content creation has created a demand for skilled professionals who can navigate these platforms effectively. Digital marketing roles alone have seen a remarkable 28% growth in the past year, reflecting the industry’s shift towards online engagement and data-driven digital strategies.

Functions that have seen a downward trend in hiring include Customer Service (-27%), Sales & Business Development (-6%) and Finance & Accounts (-5%). Functions with moderate to slight growth year-on-year are Engineering & Production and Creative, which have seen (-2%) and (-1%) growth in hiring respectively.

AI/ML specialists, digital marketers, data scientists and analysts top the list of sought-after jobs in India

Due to rapid technological advancements and the growing demand for data-driven decision-making, roles such as AI/ML specialists, digital marketers, data scientists, and analysts are in high demand today.

Industries that have shown an affinity for hiring AI/ML specialists include IT Software & Services, with a 27% share of jobs, and Internet & eCommerce, with a 14% share of jobs. Companies in these sectors are leveraging AI/ML to improve efficiency and personalize customer experiences.

Top Hiring Industries in AI/ML % Part
IT software, software services 27%
Internet, E-commerce 14%
Education, teaching, training 11%
BFSI 10%
Strategy, Management Consulting Companies 3%

Meanwhile, the digital marketing landscape is expanding as companies seek to reach a wider online audience. This increase is being driven by the need for a competitive edge in a digital world. According to the tracker, the IT software and services industry is leading the way in hiring digital marketing professionals, accounting for 33% of jobs. This is followed by the advertising/PR/MR/event management sector, with 16% of jobs dedicated to digital marketers.

Top Recruiting Industries in Digital Marketing % Part
IT Software & Services 33%
Advertising, PR, MR, Event management 16%
Recruitment, personnel placement 7%
Education, teaching, training 5%

Data scientists and analysts are increasingly in demand, with the IT software and services industry accounting for 27% of these roles. The rise of big data has made extracting actionable insights crucial.

Other sectors with a growing need for data analysts include Advertising/PR/Event Management (8%) and BFSI (7%). The integration of advanced analytics and machine learning is transforming these industries, making skilled data professionals essential to maintain a competitive edge.

Top Hiring Industries in Data Science & Analytics % Part
IT software and services 27%
Advertising, PR, MR, Event management 8%
Internet, E-commerce 6%
Recruitment, personnel placement 6%

Bengaluru leads India’s job growth as it witnesses a remarkable 24% increase in hiring

Bengaluru is witnessing a surge in hiring, driven by the growth of the tech sector and urban development, which is now expanding to Tier-2 cities. Companies across India are tapping into the vast talent pool in smaller cities, with an aim to expand their workforce in Tier-2 and Tier-3. Coimbatore leads the YoY growth figures with a 23% increase in hiring, followed by Jaipur with a 21% increase. Other cities that are seeing strong growth include Delhi-NCR (18%), Hyderabad (17%) and Pune (12%). Month-on-month, Chandigarh maintained a stable hiring environment with a 6% increase. However, some cities like Baroda, Chennai and Kolkata saw a slight decline in hiring, each by 1%.

Hiring seniors and mid-senior level professionals see moderate growth

According to the tracker, demand for professionals with more than 15 years of experience increased by 8% year-on-year. Meanwhile, mid-senior level professionals with 7 to 10 years of experience saw a 7% growth in hiring month-on-month.


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