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Hiring activity spiked 8 per cent y-o-y in September: Naukri JobSpeak Index

While most key industries, including the IT sector, BPO, pharma, FMCG, construction and telecom posted positive hiring growth rates ranging from 3-33 per cent, the slowdown continues to reflect in the auto and banking industries

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Hiring activity spiked 8 per cent y-o-y in September: Naukri JobSpeak Index

The slowdown in the hiring scenario in the country seems to have recovered somewhat in September. The latest Naukri JobSpeak Index stood at 2,279, up 8 per cent year-on-year and 5.3 per cent from August. However, it's still much lower than the peak of 2,477 reached in April. "After a flat August '19, hiring has made a comeback in September 2019 on the back of strong growth in the IT sector. The slowdown still continues to reflect in [the] auto and banking industries," said Pawan Goyal, Chief Business Officer, Naukri.com.

He clarified that all other key industries, including construction, posted positive y-o-y growth rates during September. For instance, sectors such as pharma, FMCG, construction, telecom and advertising saw a rise of 3-15 per cent. The monthly report measures hiring activity across industries, cities, functional areas and experience levels based on newly-added job listings on the job site. August 2008 has been considered as the base with an index value of 1,000.

While recruitment activity in the IT-Software and BPO industries continued to grow by 33 per cent and 19 per cent, respectively during the period under review, hiring in auto dipped 20 per cent y-o-y, followed by Insurance (8 per cent), Industrial Products (6 per cent) and banking (5 per cent).

The report further noted that demand for professionals across functional areas such as sales, accounting and ITES grew by 4 per cent, 10 per cent and 16 per cent, respectively. Demand for roles across the IT- Software functional area saw the highest spike of 27 per cent y-o-y in September but the IT- Hardware profiles marked a more muted rise of 4 per cent. On the other hand, hiring for professionals in the marketing as well as site engineering domains recorded a dip of 5 per cent, followed by production (4 per cent) and HR (2 per cent).

Another interesting trend thrown up by the report is that too much experience no longer counts, although there was a positive YoY trend across all experience bands. While demand for mid-level executives with 4-7 yrs or work experience and middle-management roles (8-12 years experience) grew by 9 per cent and 12 per cent, respectively, hiring for senior management roles (over 13 years experience) saw a rise of only 5 per cent. The demand for leadership roles was even lower at 3 per cent. There's good news for freshers though: Hiring of entry-level job seekers jumped 8 per cent.

Significantly, all the major cities witnessed positive growth in hiring activity during the period under review. Hyderabad and Bangalore led the way with robust growth rates of 25 per cent and 16 per cent, respectively, while Delhi/NCR and Pune both posted increases of 5 per cent. Mumbai and Chennai lagged behind with comparatively slower recruitment activity at 3 per cent and 2 per cent, respectively.

(Edited by Sushmita Choudhury Agarwal)

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