The Naukri JobSpeak Index for July 2018, at 2,101, marked a 9% increase in hiring activity from July 2017 (1,928).
Insurance & Real estate have been front-runners in the month of July with 34% & 28% growth respectively. Auto which was on a slowdown last year has started well this year and continues the momentum in hiring on July 18 with 31% growth. Hiring in FMCG sector has also geared up with a year-on-year rise of 18% in July 2018. Jobs in Banking & Insurance domains have seen a growth of 26% in hiring. Among the metropolitan cities, Delhi NCR saw a rise of 14% in hiring activity; likewise, Chennai was up by 13% and Mumbai by 4%.
Commenting on the report, V. Suresh, Chief Sales Officer, Naukri.com said,” The Job speak Index has shown a healthy 9% YOY growth in July after a consistent 9% growth in June and 11% in May respectively. Non-IT sectors viz. Auto, Auto Ancillary, Real estate, Construction & BFSI continue to lead the growth. We can expect the job market to be cautiously optimistic and move further north in the months to come.”
Key Highlights of Naukri JobSpeak for July 2018 vs July 2017
Hiring Trends - Industry Wise
Hiring activity in July 2018 was driven by industries like Insurance & Banking and Financial Services with a growth of 34% and 21% respectively. Other industries which witnessed a rise in hiring were Industrial Products/Heavy Machinery (23%), Construction/ Engineering (20%), Real Estate (28%), BPO/ITES (6%), and Oil & Gas (11%).
The Indian auto industry has been recording tremendous growth over the years and has emerged as a major contributor to India’s gross domestic product (GDP). The industry employs about 19 million people both directly and indirectly. Manufacturing, sales and marketing jobs dominate the auto industry in terms of hiring. The Indian Auto industry is undergoing a revival in 2018 and has witnessed a year-on-year growth of 31% in Jul 2018.
Hiring trends- Domain Wise
The verticals which are much in demand and have witnessed an increase in hiring activity in July 2018 vs July 2017 are - Production/Maintenance (26%), Leadership (24%), and Sales/BD (12%). The demand for HR professionals in the consultant and recruitment space with the right skill sets grew by 23%.
Hiring Trends - Experience Wise
Leadership roles with experience band of 16+ years saw a rise of 12% in recruitment activity. Recruitment for entry level jobs with experience band of 0-3 years witnessed a rise in hiring of 10% in July 2018. Hiring for trained talent of 4-7 years of experience grew by 9%. Recruitment activity for middle management roles of 8-12 years of experience grew by 7% while senior management roles of 13-16 years of experience witnessed a 3% rise in hiring.
Hiring Trends - City Wise
Recruitment has grown positively across the metro cities. Some of the emerging trends in the cities are as follows -
Delhi/NCR: Hiring activity grew by 14%. The industries which dominated the hiring space for the capital city were - Banking/Financial Services, Auto/Ancillary and BPO. Job domains that saw the maximum traction were Sales and HR
Chennai: Witnessed a rise in recruitment of 13% in hiring. Recruitment was focused on industries such as BFSI, Auto, IT- Software and BPO. The city witnessed an increase in demand for domains such as IT, Sales and Production/Maintenance
Mumbai: Hiring activity increased by 4%. The industries that saw increase in hiring were BFSI, Insurance and BPO. The domains where majority of hiring took place were Sales, HR, Banking and Production/Maintenance.
Hyderabad: Recruitment activity grew by 7% in July 2018. Industries with high job creation were IT-Software, Insurance and BPO sectors. Sales and HR saw good growth in hiring.
Kolkata - Hiring activity saw a growth of 17% with recruitment accelerating for BFSI, Insurance and BPO sectors. The domains that were the prime focus for the recruiters in Kolkata were Sales and Production/ Maintenance.
Bangalore - Hiring in Bangalore remained flat in July 2018. However, the IT industry has witnessed a healthy growth.
Pune - Hiring activity in Pune grew by 4%. Auto, Banking, Insurance and BPO were the industries that led the hiring trend of the city. The domains that witnessed the maximum hiring were IT- Software, HR, Accounts/Finance and Production/Maintenance.
The index has been calculated based on job listings added to the site month on month. July 2008 has been taken as the base month with a score of 1,000 and the subsequent monthly index is compared with data for July 2008. Data has been sourced from Naukri.com and it reflects new job listings added to the site in that particular month. Jobs have been categorized by location, functional area, industry, experience bucket. The index has been analyzed across cities/ functional Area/industry verticals & experience level. The report (produced monthly) shows hiring trends across industry sectors, geography, experience level and functional areas. More than 76,000 national and international clients use Naukri.com, leading to high reliability of data.