A surfeit of jobs in the first half of 2015 is the key sentiment that has surfaced from Naukri’s’ Hiring Outlook survey 2015 – a half yearly survey which gauges the hiring sentiment of companies and consultants and covers a plethora of sectors. More than 1200 recruiters and consultants participated in the survey.  Recruiters accounted for 73 per cent of the total respondents and consultants accounted for 27 per cent.  More than two thirds (69 per cent) of recruiters and consultants who participated in the survey forecasted creation of new jobs in the first half of 2015, while this figure was at 64 per cent in the first half of 2014. As highlighted above, the IT and BFSI sectors were favourites among the respondents in their prediction regarding which sector was expected to witness maximum job creation. These were followed by manufacturing, pharma and ITES, in that order. 

40 per cent of recruiters surveyed expect to give increments in the range of 10-15 per cent
There is an increase in the increments that are expected to be given out in 2015.  In Jan 2014, 36 per cent recruiters had expected to give increments in the range of 10-15 per cent whereas in Jan 2015 this number increased to 40 per cent. 16 per cent of recruiters are expected to hand out a pay hike in the bracket of 15 per cent-20 per cent in Jan 2015 as opposed to 14 per cent in Jan 2014.

59 per cent of the recruiters said that the rate of attrition in their company was less than 10 per cent in Jan 2015.
On being asked about the attrition rates, the recruiters said that the year 2015 is in tandem with the 2014 figures. 56 per cent of recruiters expect the rate of attrition to be stable in the first half of 2015, 23 per cent articulated that they expect a decrease in the rate of attrition and 21 per cent of them expect the rate to increase in the first half of 2015.

Hitesh Oberoi, Managing Director and CEO Info Edge (India) Ltd said, “As far as job creation and hiring scenario is concerned, 2015 will be a much better year in comparison to 2014 given the increased stability in the political and economic environment of the country. The phenomenon of job creation will be led by the IT sector followed by the services industry and even the manufacturing sector is showing healthy signs.”

57 per cent of recruiters quoted that talent crunch has improved in the last six months.
The second half of year 2014 heralded good news with recruiters expressing an improvement in talent availability. The survey has also indicated that the maximum talent crunch is felt in the experience bracket of 4-8 years followed by professionals with an experience of 1-3 years.

Jobseeker Insights

In the Naukri Hiring Outlook survey, consultants were asked to share with their understanding of jobseeker behaviour related with job search and change. Here are some of the observations:

The trend among jobseekers is that they do not join a company after an offer is made to them

40 per cent of the consultants said that 5-10 per cent jobseekers do not join a company after an offer has been made to them. 27 per cent of them quoted this range to be 10-15 per cent and 21 per cent of consultants have put this figure in the range of 20-25 per cent. The primary drivers behind this trend are either the companies retain the jobseekers or they are made a better offer by another company. 

42 per cent of the consultants reported salary to be a primary driver of job change in jobseekers
 
34 per cent consultants of the consultants reported growth prospects as a primary reason driving the need for a change in job. Relationship with the boss, work life balance, designation and location of work were other reasons that were reported as important when considering a job change.

The next Hiring Outlook survey will be released in August 2015.

Methodology: The Naukri’s Hiring Outlook survey is conducted twice a year to gauge hiring trends across sectors. This gives a clear outlook about the employment opportunities in the market and throws light on increments, job opportunities and attrition levels. It is a half-yearly e-mail survey which is sent out to the registered clients of Naukri.com. The results are compiled using statistical and analytical techniques.

Key Highlights

1. 62 per cent recruiters and 89 per cent consultants expect creation of new jobs in the first half of 2015
2. 56 per cent of recruiters expect the new job creation to be in the IT sector while 28 per cent of the recruiters expect the same in the BFSI space
3. Most jobs are expected to be created for people with 4-8 years of work experience followed by people with 1-3 years of work experience
4. 59 per cent of the recruiters said that the attrition rate in their companies in Jan 2015 was less than 10 per cent
5. 40 per cent of the recruiters are expected to give increments in the range of 10 per cent - 15 per cent and 34 per cent of them expect increments to be in the range of 5 per cent - 10 per cent in the first half of 2015

Source: Press Release