September 10 2012
Bleak market sentiment takes a toll on India Inc hiring resulting in a 4%
dip in hiring in Aug-12 when compared to Jul-12
August 2012 has witnessed a downward lull in hiring activity across sectors,
functional areas and cities. This clearly shows that employers in the country
seem to be embracing a cautious approach in their hiring activity as economic
uncertainties and inflationary pressure continue to weigh down their sentiment.
Key industry sectors like IT- Software, Oil & Gas, Pharma and Auto sectors have
seen dipping hiring figures continuously for the last two months.
On an overall level, the Naukri Job Speak index after remaining flat for
consecutive five months has seen a 4% dip in Aug-12 when compared to Jul-12.
“The overall recruitment market in the economy is very challenging and most
recruiters are staffing smartly and are opting for replacement hiring instead of
recruiting new members. However hiring has severely been affected in sectors
like Telecom, Insurance and BPO” said Hitesh Oberoi, Managing Director and CEO,
Info Edge India
Industry Sector Analysis:
Most industries which had forecasted a steady hiring scenario in the beginning
of the year, have now started witnessing dipping hiring numbers. Construction
and Engineering sector has seen the highest month on month dip with hiring
activity going down by 13% in Aug-12 when compared to Jul-12.
Oil and Gas, BPO, Telecom and Auto Sector saw recruitment levels dip within a
range of 6% and 9% respectively over the same time period. Both Software
services and Insurance has seen about 2% dips in hiring activity in Aug-12 over
Jul-12. On the contrary, Banking sector has seen 12% growth in recruitment
activities over the last month probably because of increased hiring in the
Public Banks category.
Functional Area Analysis:
Mirroring hiring trends of Banking sector the demand for professionals in
Banking saw increased demand over the last one month with job index moving up by
20% in Aug-12 when compared to Jul-12. On the contrary, the demand for Sales and
ITES professionals has dipped by 6% respectively during the same time period.
Professionals in Project management have seen the highest monthly dip in hiring
numbers with the job speak index going down by 13% in Aug-12 over Jul-12.
City Wise Analysis:
All top cities have seen lower hiring numbers over the last one month, barring
Kolkata which has seen a 7% increase in hiring levels. Delhi –NCR has seen a 4%
dip in the job speak index in Aug-12 when compared to Jul-12 while Mumbai, Pune
and Chennai has seen their recruitment activities go down by 2% respectively
during the same time period. Bengaluru and Chennai maintained steady hiring
levels during the same time period.
About Naukri.com
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 was the first internet Company to list in India. The
site enjoys a traffic share of around 61% as per the May Comscore data.
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. The site has a database of over 29 million resumes and
has serviced over 46000 clients in FY-2012. The company has over 2000 people
operating through 48 offices in 31 cities in India and overseas offices in
Dubai, Abu Dhabi, Riyadh and Bahrain.
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