Digital to lead job market surge: Survey suggests higher attrition, increments till June

Digital transformation and demand for tech-enabled skills will lead to spurt in hiring this year, according to a survey. Sectors such as IT (59%), business development (43%), and marketing (36%) are likely to actively hire talent in the coming months. Recruiters indicated maximum hiring to be in the 3-5 years’ experience band at 67%, followed by 1-3 years at 53%, and 5-8 years at 53%.

According to the latest Naukri Hiring Outlook, recruiters indicate a strong hiring sentiment for the first half of the calendar year across the country. The Naukri Hiring Outlook Survey 2022 revealed 57% recruiters indicated new and replacement hiring till June against 51% in the last survey in July 2021. A whopping 62% of the recruiters expect the hiring to return to pre-pandemic levels in their organisations by June.

The Naukri Hiring Outlook surveyed 1,879 recruiters and consultants from 10 major sectors using a detailed online questionnaire.

Naukri.com Chief Business Officer Pawan Goyal said: “The anticipation of returning to normalcy by companies is fuelling a strong hiring sentiment as there has been a pent-up demand across sectors.”

“Naukri Hiring Outlook Survey corroborates this narrative as 57% recruiters indicated a surge in both new and replacement hiring in their organisations. Only 2% recruiters foresee a hold on hiring, while just 1% indicate layoffs for the coming months which indicates re-stabilisation after a turbulent period.”

Naukri Hiring Outlook Survey 2022

High attrition rate: Recruiters expected a high attrition rate in the job market, which has been on a hot streak over the last few months. The majority of attrition is expected from employees in the 3-5 years’ experience bracket at 51%, followed by 1-3 years at 45%. Recruiters expect the IT sector to witness the highest attrition rate at 49%, driven by its continued demand surge.

Increments on the cards: Recruiters planning increments greater than 30% in their organisations grew 60% against last year’s survey. At the same time, the number of recruiters foreseeing an increment below 10% fell from 37% to 33%.

Campus hiring to return: Campus hiring has been showing signs of returning to normality since last year. A majority of recruiters during the last survey had put campus hiring on hold. This time, the majority expect campus hiring to go as planned, with 47% confirming going ahead with the placements while 16% feel that there might be a reduction in the number of candidates hired from campuses.

Changing workplace models: Indian companies are preparing to return to office with 41% recruiters confirming the move, a significant increase from 10% during the last survey in July 2021. Another 42% believe that work from home was equally productive, while 14% said they would return to office with a restricted team.