 "Hiring up 69%: Motilal Oswal recruits 455 freshers as capital mkt heats up")
Motilal Oswal Financial Services Ltd (MOFSL) hired 455 candidates during its annual Mega Recruitment Drive 2024, held in Mumbai. This marks a 69% increase in hiring compared to last year, the brokerage said in a press release.
The recruitment drive, conducted in two phases at MOFSL’s Malad Interface office, attracted over 1,400 candidates from more than 115 colleges and institutions across the country. The event, which is now a staple in the company's calendar, saw a substantial rise in participation and hiring numbers this year.
Key highlights:
— Over 1,400 candidates from across more than 115 colleges/ institutions participated in the recruitment drive
— YoY 69% more candidates hired this year in the annual mega recruitment drive
The first phase of the drive involved interviews with 550 candidates, resulting in 222 hires. The second phase saw 233 candidates hired from a pool of 850 interviewees. The initiative aims to provide fresh graduates with opportunities in the capital markets sector.
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Ajay Menon, CEO of Broking & Distribution at MOFSL, noted the positive market sentiment driving the increased demand for skilled workers. “With market sentiment signalling an increase in capital market activities, the demand for competent workers is likely to grow multi-fold. Our commitment to identifying and recruiting top talent ensures that we are well-equipped to handle the challenges of the future,” Menon said.
"Every year, India’s colleges and universities produce a great talent pool. All they need is the right opportunity, which we are providing through such recruitment events," Niren Srivastava, Group CHRO at MOFSL said.
MOFSL's Mega Recruitment Drive, which began in 2020, has become an annual tradition for the company, except in 2021 when the pandemic forced a shift to virtual recruitment.
Surge in investor activity
A record 32 million demat accounts were opened in FY24, with 10 million added in the last quarter (Q4 FY24). According to a recent report by the domestic brokerage, the total number of demat accounts surged to a record high of 154 million by the end of April 2024.