Naukri’s Hiring Outlook Survey, which is a bi-annual survey conducted amongst 1200 recruiters and recruitment consultants to gauge forward-looking hiring trends across companies and industries, reveals that recruiters are primarily optimistic about hiring trends in second half 2023. 92% of recruiters surveyed expected either new or replacement or both hiring forms to happen over the next six months. Nearly 47% of the recruiters predicted new and replacement hiring, 26% expected only new job creation, and 20% stated they would maintain their headcount in the coming six months. Only 4% of recruiters surveyed foresee layoffs/downsizing in the Jul-Dec’23 period.
Most recruiters surveyed foresee Business Development, Marketing, and Operation roles to be leading hiring in the coming six months. Mid-Experience professionals were expected to remain in demand, followed by entry-level professionals.
Attrition expected to ease out during the next six months
Nearly 70% of recruiters surveyed expect attrition rates to remain below the 15% level in the coming six months, and only a tiny fraction of them predicted higher attrition rates of 40% or more. These expectations around attrition trends show that employees will look to hold onto their current job profiles amidst current job market uncertainties.
Highest attrition rate are expected across Business Development, Marketing, Operations, and HR roles, as well as, mid-level experience professionals.
Moderate increments rolled out in the first half of 2023
The majority of recruiters surveyed remained cautious w.r.t increments offered by their organizations during the last appraisal cycle, with 42% of recruiters saying that their companies gave less than 10% increment and 31% of recruiters revealing that their organizations gave increments in between 10-15%. Only 6% of recruiters surveyed said that more than 30% increments were rolled out in the last appraisal cycle.
Campus hiring trends during the second half of 2023
Nearly 36% of recruiters surveyed indicated campus hiring to go ahead as per current plans, 11% expected campus hiring to amp up in the next six months while 39% of recruiters indicated campus hiring to go on hold.
Reflecting on the report, Pawan Goyal, Chief Business Officer at Naukri.com, articulated, “With 92% of recruiters forecasting hiring activity, coupled with a return to normalcy in hiring practices anticipated by more than half of the recruiters surveyed, hiring outlook survey manifests an optimistic white-collar hiring landscape in the forthcoming half of 2023.”
Naukri.com, India’s No. 1 job site and the flagship brand of Info Edge introduced the concept of e-recruitment in India. Since its inception in 1997, Naukri.com has continuously grown while outperforming its competitors in every sphere. Info Edge was the first internet company to be listed in India. As the market leader, the brand has enjoyed the highest awareness and market share amongst job seekers and recruiters for over two decades. It has become synonymous with the jobs category. The platform has over 1 Crore active app installs and receives over 3 Million job applications daily. It provides hiring-related services to corporates, recruiters, placement agencies, and job seekers in India & overseas. It offers multiple products like Resume Database Access, listings, Branding, and response management tools. With more than 70 lakh new job mandates every year and over 9 Crore jobseekers, the brand serves over 100,000 unique clients through its 63 offices in 56 cities in India.