India’s diversity hiring surges 33% YoY, led by BFSI, IT
HYDERABAD, INDIA — Diversity hiring in India surged by 33% year-on-year, driven primarily by the Banking, Financial Services, and Insurance (BFSI) and IT-Software & Services (IT-ITeS) sectors.
According to the latest foundit Insights Tracker for June 2024, this significant increase highlights the growing emphasis on diversity and inclusion (D&I) policies among Indian companies.
Corporate focus on inclusive hiring
Foundit reported that Indian companies are increasingly focusing on hiring candidates from diverse groups, including women, persons with disabilities (PwD), and LGBTQIA+ individuals.
This shift is reflected in the language used in job advertisements, which now often include applicants’ preferred pronouns to avoid gender bias.
Sector-wise, diversity hiring is led by the BFSI industry, accounting for 30% of diversity job postings. The IT-ITeS sector came second with 19%, followed by healthcare with 6%.
Other industries that showcased a good share of diverse representation include internet/E-commerce (4%) and education (3%).
Metro cities lead in inclusive hiring
Indian metro cities like Delhi-NCR, Mumbai, and Bengaluru are at the forefront of this diversity hiring trend. These regions reported significant recruitment of women, people from the LGBTQIA+ community, and persons with disabilities.
Specifically, women accounted for 14% of jobs in Delhi-NCR, while PwD held 22% of the job share. In Mumbai, both women and PwD each accounted for 15% of the job share.
High-demand roles in the diverse job market
The demand for specific job roles has also seen a notable increase, particularly for artificial intelligence and machine learning (AI/ML) specialists, data scientists, digital marketers, and analysts.
These roles are crucial as companies increasingly rely on data-driven decision-making and advanced technologies.
Corporate initiatives and future outlook
Foundit CEO Sekhar Garisa commented on the progress, stating, “We commend Indian companies for prioritizing inclusivity and achieving such significant growth.”
“Looking ahead, we anticipate an even deeper focus on inclusion through initiatives like mentorship and leadership programs for underrepresented groups and bias training at all levels,” he added.
The rise in diversity hiring in India highlights a positive shift towards more inclusive workplace practices.
With continued emphasis on D&I policies and innovative approaches such as D&I labs, reverse mentorship programs, and inclusive job advertisements, Indian companies are setting the stage for a dynamic and equitable workforce.
The trend is expected to grow, fostering a more inclusive and diverse job market in the country.
