According to a report by the manpower services company TeamLease, the Banking, Financial services, and Insurance (BFSI) sector is predicted to create around 50,000 temporary jobs with the impending holiday season in the second half of the year to meet the surge in financing options for customers. According to the research, there are now 15% more job openings than there were at this time last year.
We are prepared for a dynamic job market over the next five to six months as credit card transactions soar, personal finance applications expand, and India’s digital payments landscape grows. We have seen a surge of 25,000 job listings for temporary roles during the last two months. According to Krishnendu Chatterjee, VP and Business Head, BFSI at TeamLease Services, we expect it to get worse over the next few months.
The pay for these temporary jobs has also increased by 7 to 10% over the previous year.
Not only in tier-1 cities, but also in tier-2 and tier-3 cities, including Kochi, Vizag, Madurai, Lucknow, etc., it is anticipated that there will be an increase in demand for temporary workers. According to the survey, there have been a lot of available opportunities for on-the-feet and tele-operator positions in areas like Kolkata, Pune, and Ahmedabad during the past two years.
Along with creating jobs in the BFSI sector, the introduction of 5G technology in India is anticipated to increase hiring by the telecom industry, with Reliance Jio, Vodafone Idea, and Bharti Airtel each expecting to hire up to 25% more staff during the current fiscal year.
The positions of network engineers, network architects, cloud computing experts, data scientists, data analysts, and cyber security specialists are the ones seeing the most rise in employment.
In addition to permanent staff, businesses like Vodafone and Airtel are increasingly hiring contract workers as well.