With the constantly changing job market, understanding hiring trends has become crucial. Getting hired is the ultimate goal for all job seekers, but how does one get started?
To help you in this first step, Naukri.com brings to you its monthly edition of the Naukri JobSpeak report- an index that measures the month-on-month hiring trends based on recruiter activities on Naukri.com and offers insights into the hiring activities across various industries, cities, and experience levels.
If you are someone keen on making informed career choices, this blog is for you. Read on as we discuss some of the major highlights from this month’s edition, the Naukri JobSpeak report for October 2021.
Overview of the Hiring Trends
India’s job market once again surpassed pre-pandemic levels, showcasing a 19% growth vs Oct ’19. Demand in Tech continued to soar as the sector witnessed a significant 85% Y-O-Y growth in Oct’21.
The Telecom sector grew by 84% in Oct ‘21, outperforming other sectors like Retail (+51) and Hospitality/Travel (+48%) which have traditionally benefited from the festive season.
Hiring activity in metros exceeded tier 2 cities once again, growing by 59% annually in Oct ’21 whereas non-metros grew at a slower pace of 30%. Bengaluru (+84%), Hyderabad (+80%), Pune (+69%), and Chennai (+57%) recorded the highest Y-O-Y growth in Oct ’21.
Annually, the demand for senior professionals with 8-12 years of experience saw a maximum increase of 55% in Aug ‘21.
Pawan Goyal, Chief Business Officer, Naukri.com said,
Overall hiring activity in India once again surpassed pre-pandemic levels in Oct ’21; The JobSpeak index, at 2523, marked a 19% growth as compared to Oct ’19 indicating continuous revival and recovery.
Sectors like Hospitality/Travel and Retail, which were most impacted during the peak pandemic, have outperformed all the other sectors bringing cheer to jobseekers across the country.
Hiring Trends Across Industries
The upcoming launch of 5G and related services coupled with the government’s product-linked incentive scheme (PLI) and the recent relief package for players in the field has boosted employment opportunities in the Telecom/ISP sector by 84% in Oct ’21 vs Oct ’20.
Demand for tech professionals continued to soar as the sector witnessed a significant 85% Y-O-Y growth in Oct ’21. Hiring activity has also grown in the Retail (+51), Hospitality/Travel (+48%), Education (+41%), and Banking/Financial Services (+39%) sectors as compared to Oct ’20.
Growth in the Consumer Durables sector (+6%) too has picked up as all major offline outlets, and online portals of e-commerce companies are benefiting from the peak sale season.
Hiring Trends Across Cities
The growth of the IT-Software sector 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 59%, whereas non-metros grew at a slower pace of 30%. Bengaluru (+84%), Hyderabad (+80%), Pune (+69%), and Chennai (+57%) recorded the highest Y-O-Y growth in Oct ’21.
Hiring activity was also positive in Delhi/NCR (+51%) and Mumbai (+46%), while Kolkata (+26%) witnessed relatively slower growth.
Among the non-metros, Ahmedabad (+72%) witnessed maximum growth in Oct ’21.
Hiring Trends Across Experience Levels
Hiring across all experience bands was positive in Oct ’21 compared to Oct ’20, with demand for senior professionals belonging to the 8-12 yrs (+55%) bracket witnessing maximum traction.
Demand was also positive for professionals in the 0-3 yrs (+36%), 4-7 yrs (+45%), 13-16 yrs (+36%,) and above 16 yrs (+30%) brackets.
The Naukri JobSpeak is a monthly Index that calculates and records hiring activity based on the job listings on the Naukri.com 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.com 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.com, 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.
Growth in India’s job market once again surpassed pre-pandemic levels, showcasing a 19% uptick VS Oct ’19. The country’s premier index was trending at 2523 in Oct ’21, recording 43% year-on-year (Y-O-Y) growth VS Oct’20, according to the latest Naukri JobSpeak report.
Demand for tech professionals continued to soar as the sector witnessed a significant 85% Y-O-Y growth in Oct’21. Hiring activity also picked up in the Retail and Hospitality/Travel sectors along with the Education/Teaching and Banking/Financial Services sector this month.
Based on location, the average Y-O-Y growth recorded in metro cities was 59%, whereas non-metros grew at a slower pace of 30%, and hiring across all experience bands was positive in Oct’21, with the highest traction recorded in the 8-12 yrs experience band
We hope with these insights into the hiring trends, you will be able to make more informed career choices and find the perfect opportunity for yourself.
All the best!