Hyderabad: Despite an increased activity on the startup front in the city, Hyderabad is expected to see a decline in hiring by tech-based firms over the next six months due to difficult funding environment.
“The slowdown in venture capital funding and rapid consolidation of startups are expected to have an adverse impact on job creation in this sector. The decline in job creation in this IT sector - both startups and established companies - will be around seven to eight per cent in July-December period compared to the same period last year,” said Ajay Kolla, CEO of WisdomJobs, referring to a survey conducted on the hiring outlook in Hyderabad.
According to him, the coming six months are likely to see a bullish trend in terms of hiring activities on the back of favourable economic growth forecast, especially in consumption driven sectors. The survey claims that top three sectors in terms of employment outlook in Hyderabad are expected to be consumption focused sectors like retail, FMCG, telecom.
According to an HR expert, “the entry of new telecom players like Reliance Jio, new single-brand retail players, new telecom companies would make the retail job market a happening place.
“Higher spending power caused by Pay Commission’s salary hike and better rural incomes due to good rains could give a fillip to this sector.” Job creation in this sector, according to the survey, is likely to see a six to seven per cent increase as compared to the last year.
FMCG - yet another consumption driven sector - is expected see a rapid growth with the entry of several national and local level players, leading to 11 per cent growing in hiring during the July-December period compared with the last year.
Ecommerce companies, which had overtaken traditional companies in hiring last years, are expected to feel pinch of subdued investor sentiments.
While the creation of white collar jobs is expected to slow down, the hiring for urban blue collar jobs could grow by 10 to 12 per cent due to an increased focus on logistics.
Apart from the new economy, the hiring in traditional sectors like infrastructure, manufacturing and engineering is expected to see traction due to the Centre’s focus on make-in-India campaign, the state government’s aggressive marketing of Hyderabad as an important investment destination and an increased public sector spending in infrastructure.
The hiring in the manufacturing sector is expected to fall by three to four per cent as compared to the last year, infrastruture could see a nine per cent increase and the telecom sector is expected to see a six per cent higher hiring.