Press Release

India Inc. Hiring activity dips for all sectors in August,13 - says Naukri Job Speak Index

September 11 2013

5% increase witnessed in hiring in August when compared to last year

  • All the top metros have witnessed dip in hiring levels, indicating caution in the business and recruiting environment.
  • Hiring was subdued among majority of sectors. Auto, Telecom & Pharma index has gone down in the range of 13% to 15% in Aug’13 over July’13.
  • Most of the sectors showing dip in demand for professionals across sectors when compared to previous month.

The Naukri Job Speak index at 1206, was 9% lower in August’ 13 when compared to July’ 13, the maximum dip witnessed for the year, however, at the same time, the index shows an increase of 5% when compared to August’12. All the top metros witnessed a dip in hiring levels indicating caution in the business and recruiting environment, with the highest dip in Kolkata .For most of the sectors also, the hiring activity has taken a dive on a month on month basis. Pharma has suffered the highest dip with the job index going down by 14% in Aug’13 over July’13. However on a y-o-y basis, maximum jobs were created in the ITES sector with the jobspeak index showing growth of 28% over Aug, last year.

Mr. Hitesh Oberoi, MD and CEO Info Edge (India) Ltd said “Hiring is bound to come under pressure in an unstable macroeconomic environment. In such a situation most companies focus only on replacement hiring. Hopefully the worst will be behind us soon and the market will start looking up in the 2nd half of this year.”

Industry Sector Analysis:
The Banking and financial services sector has been showing continuous dip in hiring activity for 3 consecutive months now. This month again, the index is showing a 9% dip as compared to the previous month.

Oil & gas, Telecom and Pharma are showing highest dips in the range of 13%-14% this month when compared to July-13.The Auto sector has witnessed the highest dip within this year with the index in Aug,13 being 15% lower than Aug,12. The latest Naukri hiring outlook report has also echoed similar sentiments predicting a dip in new job creation for coming six months.

Software services and construction are showing growth of 9% and 8% respectively as compared to the previous year.

Functional Area Analysis:
The cautious hiring approach is reflecting in the demand for professionals across sectors. ITES is the only sector which is more or less stable on a month on month basis with the job speak index marginally down by 2% in Aug,13 over July,13. However on a year on year basis the sector has witnessed a 22% growth.

Hiring for Engineering and production professionals saw the max dip on a month on month basis with the Naukri job speak index down by 17% & 18% respectively in Aug,13.Demand for professionals in HR, Sales & Accounts also showed a dip in hiring numbers in the range of 5% to 10% in Aug,13 over july,13. . Software services is showing growth in hiring numbers when compared to last year but has dipped by 8% on a month on month basis.

City Wise Analysis:
All top cities have seen lower hiring numbers over the last one month Kolkata has witnessed the highest dip in hiring activity with the index going down by 20% in Aug’13 over July-13. Delhi- NCR, Chennai, Mumbai, Bangalore and Hyderabad have also exhibited dip in hiring levels in the range of 4% to 9% this month.

Year-on-year analysis reveals that Delhi / NCR and Bangalore have fared well with a 10 % and 11% increase respectively in hiring activity. Mumbai is up by 2% year on year while hiring activity in Hyderabad has been stable for the same duration.

About Naukri.com
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 seen continued growth while outperforming its competitors in every sphere. Info Edge was the first internet Company to be listed in India. The site enjoys a traffic share consistently over 60% as per the 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, listings and Response Management Tools. With 230000 jobs live at any point and over 33 million CV’s, Naukri.com serviced over 48000 corporate clients in 2012-2013. The company employs over 2500 people operating through 57 offices in 36 cities in India and overseas offices in Dubai, Riyadh, Abu Dhabi and Bahrain.