The ‘Naukri Hiring Outlook Jan – June 2020’ projects an overall positive outlook, as 55 percent recruiters anticipate new jobs as well as replacement hiring to happen in the first half of the year. Further, 26 percent predict only new jobs and 13 percent expect to do replacement hiring only. Of those surveyed, 3 percent indicated a scenario of no hiring at all while only 1 percent of the total recruiters anticipated layoffs.
Pawan Goyal, Chief Business Officer, Naukri.com commented, “The Hiring Outlook showcases a positive sentiment with 55% of the recruiters anticipating hiring, both new and replacement, to take place in the next six months. Analytics emerges as one of the functional areas where 14% recruiters indicate hiring apart from popular roles in IT, Sales & Marketing and Operations.”
In terms of sectoral trends, about 48 percent recruiters expect hiring to happen for roles in Sales and Marketing. 1 out of every 5 recruiters will hire in Accounts & Finance and similarly for HR & Administration. In IT Roles, 46% of recruiters feel that hiring will open up in IT - Software Development while around 10% for IT - Hardware.
Here are some of the key insights from the report:
- The emergence of analytics role: Analytics is a role that has been seeing demand in recent years, and over 14 percent recruiters indicated an interest in hiring for analytics roles.
- Attrition continues to be a pain point: A 40% of recruiters expect attrition to stay over 10%, while 26% recruiters indicate that it should stay under 5%. Further, highest attrition is expected in the 1-3 years experience band at 46%.
- Average salary hikes trends: According to the Naukri Hiring Outlook 2020, 32% companies indicated an increment between 5%- 10%, and 7% recruiters suggest an increment of under 5% in their companies. 28% companies will stick to an average increment of 15% to 30%.
- Lack of relevant skills: While India abounds on talent, yet talent crunch stays an issue that trumps most recruiters. 40% of recruiters expect talent crunch to stay high, while 33% expect it to stay the same. This is highest at the bands of 3-5 years experience at 47% followed by 39% in the 1-3 years band and 32% in the 5-8 years experience band.