Naukri Hiring Outlook Survey reveals upswing in hiring activity in 2014

Buoyancy in hiring activity was the sentiment that emerged from the Naukri Hiring Outlook survey 2014 - a half yearly survey which gauges the hiring sentiments of companies and covers a plethora of sectors. The survey was conducted amongst 800 plus recruiters. Approximately 64% of the recruiters who were surveyed indicated the creation of new jobs this year. This represents a more positive outlook in comparison to July 2013 when only 54% recruiters signaled the creation of new jobs. In contrast, replacement hiring is likely to contribute less to the overall hiring with only 30% recruiters expected to engage in it in 2014 versus 54% recruiters who anticipated the need for replacement hiring in second half of 2013. Layoffs too, are also expected to decrease with only 2% recruiters anticipating them in first half of 2014 as compared to 5% recruiters who suspected layoffs in the second half of 2013.

IT and Pharma sectors to lead the Jobs Rally

For the coming six months, the IT and Pharma sectors are expected to lead the job creation rally with approximately 77% and 72% respondents from these sectors expecting new jobs (additional positions) to be created.

Buoyancy in hiring activity for Freshers and Entry level employees

The coming year should see freshers stealing the limelight. Employers have indicated that the maximum number of jobs will be created for freshers and people with experience levels of 1-2 years with 56% of recruiters expecting to hire professionals in this experience bracket. This is in contrast to the July 2013 survey in which maximum numbers of jobs were created for professionals with 4-8 years of experience.

Overall sentiment pertaining to increments remains the same; but talent will be at a premium

The Naukri Hiring Outlook indicates that the increments in 2014 are expected to be at par with the 2013 levels. While approximately 70% recruiters expect increments within the 5%-15% range, the proportion within this has tilted in favour of 5%-10% in 2014 as opposed to 10%-15% in July 2013.

The survey also revealed that the recruiters faced a greater talent crunch in the second half of 2013 with approximately 74% of recruiters citing this as a concern versus 55% in the first half of 2013. The problem was more severe when hiring for mid level employees in the experience bracket of 4-8 years. Approximately 43% of recruiters found it a challenge to hiring employees with 4-8 years of experience compared with 29% of recruiters who opined that it is difficult to find talent in the 1-3 years of experience level. We thus expect more retention efforts at that level and thus more jobs being created at a relatively junior level.

Attrition levels dip marginally in second half of 2013

The Naukri Hiring Outlook indicates that attrition level in 2013 have dipped with 14% of recruiters stating it to be in the range of 10%-15% in 2013 while in the previous survey 22% recruiters mentioned that the attrition levels are in the spectrum of 10%-15%. In terms of sectors, majority of recruiters in IT sector saw attrition in the range of 5%-10% while most recruiters in the banking sector indicated attrition to be below 5% in 2013.

Hitesh Oberoi, Managing Director and CEO Infoedge (India) Ltd said, "There is buoyancy in the job market in India in first half of 2014. Since 2014 is an election year, we expect companies to recalibrate their hiring plans post elections. There are bright spots like IT and Pharma which continue to report strong outlook. On the whole, we expect 2014 to be better than 2013".

Methodology: The Naukri 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.

Source : Equity Bulls

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