The Naukri Job Speak index for Dec-11 was at 1072 as compared to 1203 in Nov-11, thus indicating a 10% dip in hiring activity month on month however a year on year comparison of the index indicates positive movement. Traditionally, December has always been a month where recruitment across sectors have been impacted owing to the end of year holiday season, as most companies put their hiring plans on hold.
- The end of year holiday season has impacted month on month hiring activity in the IT- Software, ITES, Telecom and Oil and Gas sectors
- Year on year hiring activity has picked up across all industry sectors and functional areas
Hitesh Oberoi, CEO and MD, Info Edge India said “There has been sluggishness in the hiring sentiment towards the end of 2011 and most firms had adopted a cautious optimistic wait and watch approach. A similar trend is likely in the first quarter of 2012 as well.”
Industry Sector Analysis:
An in-depth analysis of the index shows that the hiring activity in the Auto sector has been upbeat with the index moving up by 6% in Dec-11 when compared to Nov-11. The index for ITES sector at 731 dipped to an all time low in Dec-11 with the job index moving down by 20% when compared to Nov-11. This could be due the ongoing end of year holiday season as well. The index for Telecom and Oil and Gas sectors saw dips within the range of 20% and 27% in Dec-11 over Nov-11. Construction and Engineering sector witnessed stable hiring during the month, while IT- Software witnessed 13% dip in hiring activity in Dec-11 over Nov-11. A yearly comparison of the index, however shows positive growth figures for all sectors barring ITES.
Functional Area Analysis:
Barring Banking and Insurance, all functional areas witnessed negative growth figures in Dec-11. Professionals in Software and BPO sector witnessed their hiring activity dip by 15% and 21% respectively in Dec-11 over Nov-11. The demand for professionals in Sales, Project Management and Accounts dipped by 11%, 17% and 12% respectively in Dec-11 over Nov-11. However, the three month moving average index does indicate stability.
City Wise Analysis:
On a monthly basis, Kolkata, Bengaluru and Delhi saw indices dip by 19%, 15% and 14% respectively in Dec-11 over Nov-11. Hiring activity in Chennai, Mumbai and Hyderabad dipped within the range of 8% and 14% during the same time period. Barring Chennai which witnessed a 4% upward movement in hiring activity in Dec-11 when compared with Dec-10, all the other metros saw double digit percentage growth figures.
The volatility in the monthly index values can be attributed to the uncertain economic environment and holidays on account of festivals (October/December) which sees a lull in hiring activity. Therefore on a three month perspective, Dec-11 has maintained steady hiring levels when compared to Sep-11, after two months of seasonal highs and lows.
Naukri.com, India’s No. 1 job site and the flagship brand of Info Edge revolutionized the concept of recruitment in India. Since its inception in 1997, Naukri.com has seen continued growth while outperforming its competitors in every sphere. Info Edge is the first internet Company to be listed in India.
Naukri.com is a recruitment platform that provides hiring-related services to corporates/ recruiters, placement agencies and to job seekers in India and overseas. It offers multiple products like Resume Database Access, and Response Management tools and its services include Job Postings, and recruiter branding solutions on the site. With 200000 jobs live at any point, Naukri.com serviced over 35500 corporate clients in 2009-2010.
The company has over 1700 people operating through 49 offices in 32 cities in India and overseas offices in Dubai, Riyadh and Bahrain.