Understanding Hiring Trends With Naukri JobSpeak Report- November 2021
Understanding hiring patterns has become increasingly important in the ever-changing job market. For all job seekers, getting hired is the ultimate goal, but where do you begin?
Naukri brings to you its monthly edition of the Naukri JobSpeak report to help you take the first step. It is an index that measures the month-on-month hiring activities based on recruitment patterns on Naukri and offers insights across various industries, cities, and experience levels.
The report is insightful and crucial for anyone trying to make informed career choices. Read on as we discuss some of the major highlights from this month’s edition, the Naukri JobSpeak report for November 2021.
Overview of the Hiring Trends
The onset of the festive season marked the comeback of the retail sector - showing a 47% Y-o-Y growth in Nov’21. Another sector that traditionally benefited in the festive season was Hospitality/Travel (+58%). The Telecom sector continued its upward trajectory, growing by 91% annually.
Hiring activity in metros exceeded in tier 2 cities once again, growing by 39% annually in Nov’21 whereas non-metros grew at a slower pace of 16%. IT hubs Bengaluru (+49%), Hyderabad (+47%), and Pune (+47%) recorded the highest growth in Nov’21.
Annually, the demand for senior professionals with 8-12 years of experience saw a maximum increase of 37% in Nov’21.
Pawan Goyal, Chief Business Officer, Naukri commented,
Being two of the worst impacted sectors of the pandemic, the Hospitality/Travel and Retail industry have stood out in their recovery. Riding the festive wave in the past few months, these sectors have grown by 63% and 56% annually from Sept’21-Nov’21.
Hiring Trends Across Industries
On the back of increased retail fervor and festive hype, the Retail and Hospitality/Travel industry grew by 47% and 58% in Nov’21 vs Nov’20.
In a bid to fall back to normalcy, schools are primed to reopen across the country; The Education sector (+54%) experienced a resultant uptick in hiring.
Hiring activity in Nov’21 has also grown in major job creation sectors - IT-Software (+50%) and Banking/Financial Services (+30%) as compared to Nov’20.
The index reported growth in FMCG (+6%) and Medical (+3%) sectors too.
Hiring Trends Across Cities
The continuous growth of the IT-Software and BFSI sectors has enabled metro cities to outperform their tier-II counterparts in the annual growth charts. The average Y-O-Y growth recorded in metro cities was 39% whereas non-metros grew at a slower pace of 16%.
Bengaluru (+49%), Hyderabad (+47%), and Pune (+47%) recorded the highest growth in Nov’21. Hiring was also positive in Mumbai (+36%), Delhi/NCR (+34%), and Chennai (+35%), while Kolkata (+23%) witnessed relatively slower growth.
Among the non-metros, Ahmedabad (+61%) witnessed maximum growth in Nov ‘21 followed by Coimbatore (+28%).
Hiring Trends Across Experience Levels
Hiring across all experience bands was positive in Nov’21 as compared to Nov’20, with demand for senior professionals belonging to the 8-12 yrs (+37%) bracket witnessing maximum traction.
Demand was also positive for professionals in the 4-7 yrs (+30%), 0-3 yrs (+27%), 13-16 yrs (+26%,) and above 16 yrs (+20%) brackets.
Methodology
The Naukri JobSpeak is a monthly Index that calculates and records hiring activity based on the job listings on the Naukri website month on month.
The objective of Naukri JobSpeak is to measure the hiring activities in various industries, cities, functional areas, and experience levels. The data is compiled from the website wherein jobs posted by clients on Naukri are considered.
Thus, the JobSpeak index includes jobs that might be for replacement hiring. July 2008 is taken to be the base with an index value of 1,000, and the subsequent monthly index is compared with the data for July 2008.
The jobs analyzed for the monthly index are qualified based on white-collar, urban, organized corporate sector jobs focusing on service industries. The report shows hiring trends across industry sectors, geography, experience level, and functional areas.
More than 76,000 clients use Naukri, leading to the high reliability of data. The report does not cover gig employment, hyperlocal hiring, or campus placement.
Over a long period, the Naukri JobSpeak was impacted by the increase in the Naukri traffic share, internet penetration, Naukri pricing strategy, and job listing drives.
Conclusion
The Retail, Hospitality, and Education sector witnessed growth in Nov’21 vs Nov’20; Y-o- Y hiring trends remain positive across all major cities and experience levels according to the latest Naukri JobSpeak report.
On the back of increased retail fervor, festive hype, and the opening up of educational institutes, the Naukri JobSpeak index recorded 26% year-on-year (Y-O-Y) growth in Nov’21. The country’s premier index was trending at 2173 in Nov’21 vs. 1727 in Nov’20.
The retail sector (47%) picked up the hiring pace, showing signs of recovery during the festive season, and hiring in metro and tier-II cities recorded 39% and 16% average annual growth respectively. Experience-wise, those in the 8-12 yrs band recorded the highest annual growth (consecutively) and all experience bands witnessed a positive Y-O-Y trend.