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Follow UsNEW DELHI, INDIA: Buoyancy in hiring activity was the sentiment that emerged from the Naukri Hiring Outlook survey 2014. The survey was conducted amongst 800 plus recruiters.
Approximately 64 percent of the recruiters who were surveyed indicated the creation of new jobs this year. This represents a more positive outlook in comparison to July 2013 when only 54 percent recruiters signaled the creation of new jobs.
In contrast, replacement hiring is likely to contribute less to the overall hiring with only 30 percent recruiters expected to engage in it in 2014 versus 54 percent recruiters who anticipated the need for replacement hiring in second half of 2013.
Layoffs too, are also expected to decrease with only 2 percent recruiters anticipating them in first half of 2014 as compared to 5 percent recruiters who suspected layoffs in the second half of 2013.
IT and Pharma sectors to lead the Jobs Rally
For the coming six months, the IT and Pharma sectors are expected to lead the job creation rally with approximately 77 percent and 72 percent respondents from these sectors expecting new jobs (additional positions) to be created.
Buoyancy in hiring activity for Freshers and Entry level employees
The coming year should see freshers stealing the limelight. Employers have indicated that the maximum number of jobs will be created for freshers and people with experience levels of 1-2 years with 56 percent of recruiters expecting to hire professionals in this experience bracket. This is in contrast to the July 2013 survey in which maximum numbers of jobs were created for professionals with 4-8 years of experience.
Overall sentiment pertaining to increments remains the same; but talent will be at a premium
The Naukri Hiring Outlook indicates that the increments in 2014 are expected to be at par with the 2013 levels. While approximately 70 percent recruiters expect increments within the 5 percent-15 percent range, the proportion within this has tilted in favour of 5 percent-10 percent in 2014 as opposed to 10 percent-15 percent in July 2013.
The survey also revealed that the recruiters faced a greater talent crunch in the second half of 2013 with approximately 74 percent of recruiters citing this as a concern versus 55 percent in the first half of 2013.
The problem was more severe when hiring for mid level employees in the experience bracket of 4-8 years. Approximately 43 percent of recruiters found it a challenge to hiring employees with 4-8 years of experience compared with 29 percent of recruiters who opined that it is difficult to find talent in the 1-3 years of experience level. We thus expect more retention efforts at that level and thus more jobs being created at a relatively junior level.
Attrition levels dip marginally in second half of 2013
The Naukri Hiring Outlook indicates that attrition level in 2013 have dipped with 14 percent of recruiters stating it to be in the range of 10 percent-15 percent in 2013 while in the previous survey 22 percent recruiters mentioned that the attrition levels are in the spectrum of 10 percent-15 percent.
In terms of sectors, majority of recruiters in IT sector saw attrition in the range of 5 percent-10 percent while most recruiters in the banking sector indicated attrition to be below 5 percent in 2013.
Hitesh Oberoi, MD and CEO Infoedge (India) Ltd said, "There is buoyancy in the job market in India in first half of 2014. Since 2014 is an election year, we expect companies to recalibrate their hiring plans post elections. There are bright spots like IT and Pharma which continue to report strong outlook. On the whole, we expect 2014 to be better than 2013".