India sees 33% growth in diversity employment, driven by BFSI and IT sectors

India saw a 33 per cent year-on-year increase in diversity-based hiring, underscoring the growing corporate focus on diversity and inclusion (D&I) policies, according to the latest June 2024 foundit Insights Tracker (fit) report by talent platform foundit (formerly Monster APAC & ME).

Overall recruitment activity increased by 12% year-on-year (June 2024 vs. June 2023) and by a slight 2% month-on-month (June 2024 vs. May 2024), and the overall employment rate increased from 295 in May 2024 to 302 in June 2024.

“The 33 per cent year-on-year increase in diversity hiring underscores the critical role diversity and inclusion plays in shaping today’s Indian workforce,” CEO Sekhar Garisa said in a statement.

“Looking ahead, we envision an even deeper focus on inclusivity through initiatives like mentoring and leadership programs for underrepresented groups and bias training at all levels,” Garisa added. “Companies can lead with innovative approaches like D&I labs or councils to deepen inclusivity efforts and reverse mentoring programs where young employees from diverse backgrounds mentor senior leaders. Through these initiatives, companies can build truly inclusive workplaces and set the stage for a vibrant and equitable workforce in India.”

BFSI and IT-Software and Services industries are leading in employing people with diverse profiles

The industries that showed the largest increase in diversity-driven job postings were BFSI and IT-Software & Services (IT-ITeS), with 30% and 19% share of job postings, respectively. Other industries that showed a high share of diversity representation were healthcare (6%), internet/e-commerce (4%), and education (3%). Metro cities like Bengaluru, Delhi-NCR, and Mumbai are leaders as diversity-driven hiring hubs, with a high share of roles for women, people with disabilities, and the LGBTQIA+ community. Also notable as part of the diversity-driven hiring trend is the emphasis on promoting women into leadership positions through mentoring and specialized training.

Other cities offering significant employment opportunities include Pune, Hyderabad and Chennai.