New Delhi, 24thJuly 2019: Naukri.com, India’s No. 1 Job Site, published the results of its Bi-Annual survey, ‘Naukri Hiring Outlook July – Dec 2019’ today. The survey represents the outlook for hiring in the coming six months. The survey saw participation from over 2700 recruiters across the country
78% recruiters surveyed are anticipating hiring activity in the next six months vs. 70% last year (July – Dec 2018). 16% of the recruiters are of the opinion that the coming six months will only see replacement hiring. Of those surveyed, only 5% indicated a scenario of no hiring at all. The optimism in recruitment is further emphasized by a dip in the layoff numbers with only 1% of the total recruiters anticipating layoffs.
The industries that might drive this wave of optimism are IT, BFSI and BPO with over 80-85% of the recruiters indicating the creation of new jobs. However, industries like Automobile and FMCG predict that almost 20% of the hiring activity will be replacement hiring. Almost half of the recruiters surveyed are of the opinion that the hiring will be highest in Sales & Marketing and IT-Software functional areas. Other than these, one-third of the recruiters have mentioned that hiring will take place in Operations, HR, and Accounts.
Talking about hiring across experience levels, the survey states that the maximum hiring would be in the experience band of 3-5 years followed by 1-3 years. Almost 18% of the total hiring is expected to be for professionals with over 8 years of experience. Recruiters from BPO are inclined towards the experience band of 0-1 year for almost 50% of their hiring, while Automobile industry will be on the search to hire maximum professionals with more than 12 years of experience
Sumeet Singh, Chief Marketing Officer, InfoEdge India Ltd., said“The Hiring Outlook examines a positive sentiment with 78% of the recruiters anticipating hiring activity in the next six months vs.70% last year. 83% of the IT recruiters predict hiring through the creation of new jobs. The forecast is consistent with the Naukri JobSpeak index for the period Jan – June 2019 that saw an uptick of 35% YOY in IT Jobs.”
Key Highlights of Naukri Hiring Outlook
More than half of the recruiters surveyed expect attrition to be less than 10%. Another 20% of recruiters expect attrition to be in the range of 10-20%. Attrition is expected to be the highest for people with 1-5 years of experience
According to most of the recruiters and jobseekers, better compensation, better profile and career growth continue to top the chart as reasons for employees to change their job. However, some other reasons for job change include relocation and manager.
While there is a positive indication of job creation, there still exists some lingering concern over finding the right talent. 41% recruiters predict that the issue of talent crunch could intensify in the next six months vs. 50% in last wave (July-Dec 2018). Another 33% of the recruiters said that while the talent crunch will continue, the intensity would remain the same as the last six months. 19% of the recruiters believe that the talent crunch will be less than that in the last six months, while 7% say that there would be no talent crunch.
When asked about the rate of increments given this year, almost two-third of the recruiters said that the increment was between 5% – 15%. However, almost one-third of them have indicated that increment was upwards of 15%.
Naukri Hiring Outlook is a Semi-annual survey conducted amongst recruiters and recruitment consultants aimed at gauging hiring trends across companies and industries. The survey covers multiple aspects of job creation trends/forecasts as well as jobseeker behavior covering areas like job opportunities, increments, attrition level and availability of qualified job seekers amongst other areas.
More than 2700 recruiters and consultants representing more than 15 major industries participated in this edition of the Hiring Outlook. Also, more than 6000 job seekers participated in the survey presenting their opinion on various aspects. Responses from the participants were collected online using a detailed questionnaire and the gathered data was analyzed as well as compared against previous surveys in order to distill meaningful trends and insights.