Higher increments on the charts as recruiters anticipate churn, shows Naukri

Higher increments on the charts as recruiters anticipate churn, shows Naukri

Rising attrition and talent shortage will drive higher increments in the months ahead, according to the findings of a survey by leading jobs portal Naukri.com.
The number of recruiters planning to roll out increments greater than 30% in their respective organizations grew substantially by 60% versus the previous outlook survey conducted in July 2021, according to the latest edition of the Naukri Hiring Outlook Survey. At the same time, the number of recruiters foreseeing an increment below 10% reduced from 37% to 33%.

The survey also shows that recruiters across India are indicating a strong hiring sentiment for the first half of 2022.

Nearly 57% of the recruiters indicated both new and replacement hiring in their organizations in the coming months till June, up from 51% last year. About 62% of the recruiters expect the hiring to go back to pre-Covid levels in their organizations by June.
The survey shows an increase in demand for tech-enabled skills. The top functional areas in which active hiring is expected in the coming months are IT (59%), business development (43%), and marketing (36%).

Recruiters foresee maximum hiring to take place for the experience band of 3-5 years (67%), followed by 1-3 years (53%), and 5-8 years (53%).

“The anticipation of returning to normalcy by companies is fueling a strong hiring sentiment as there has been a pent up demand across sectors,” said Pawan Goyal, Chief Business Officer, Naukri.com.

Only 2% recruiters foresee a hold on hiring, while just 1% indicate layoffs for the coming months.

The bi-annual survey is conducted among 1900 recruiters and recruitment consultants representing from 10 major sectors and is aimed at gauging hiring trends across companies and industries.

High attrition

Recruiters expect attrition levels to rise further in the coming months. The majority of this attrition is expected from employees in the experience bracket of 3-5 years (51%), followed by 1-3 years (45%). Given the continued surge in demand for IT roles, recruiters expect this sector to witness a high employee fallout rate of 49%. The number of recruiters anticipating an attrition rate greater than 20% grew up by 33% compared to last year’s survey.

Campus Hiring

Campus hiring is showing signs of improvement since last year. In the previous survey, the majority of recruiters had put campus hiring on hold while this time the majority of recruiters expect campus hiring to go as planned. Nearly 47% of the recruiters surveyed confirmed going ahead with the placements in the next few months while only 16% feel that there may be a reduction in the number of candidates that will be hired from campus.

Changing workplace model

Indian companies are gearing to kickstart work from office for their employees with 41% recruiters confirming the same, which marks a significant increase of 10% when compared with the previous year’s survey for the period July-December 2021, showed the survey findings. Nearly 42% of recruiters believe that work from home is equally productive as working in office while around 14% of recruiters said they would be back to office with a restricted team size.

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