An understanding of hiring trends can have a significant impact on your job search and can help you make smart career choices. But these insights are a crucial yet challenging task.

Well, not anymore!

To make the jobseekers' lives easy, Naukri.com offers 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 gives insights into the hiring activities across various industries, cities, functional areas, and experience levels.

In this article, we will take a look at some of the major highlights from this month’s edition, the Naukri JobSpeak report for October 2022.

Overview of the Hiring Trends

Hiring activity slows owing to festivities in Oct’22; Naukri JobSpeak index stays flat vs last year

The country’s premier hiring index points to festive impact, yet showing resilience with strong growth (+13%) compared to the festive window last year.

Naukri JobSpeak Index clocked 2455 in Oct’22, however showing an upward trajectory when compared with last year’s festive window in Nov’21 where the Index recorded 2173, pointing to sustained hiring, even during a busy festive month.

Hiring across key industries remains stable, and Insurance continues to rule.
Kolkata leads hiring charts, and non-metros remain steady.

There is a surge in hiring for leadership roles while other bands stay flat.

Pawan Goyal, Chief Business Officer, Naukri.com said,

The temporary deceleration in hiring activity was expected given the festive season, however, when you compare the data with last year’s festive window (Nov’21), the Index is a healthy 13% ahead which is reassuring.

It is also interesting to note that most key industries maintained hiring expansion during this month which is likely to only get stronger as year-end approaches.

Hiring Trends Across Industries

The Insurance sector in India continued to witness phenomenal growth due to an increase in demand for professionals across experience bands.

The sector registered a significant Y-O-Y growth (+93%) vis-a-vis Oct’21. Other sectors that continued to show upward hiring trends are BFSI (+40%), Oil (+34%), Travel & Hospitality (+24%), Real estate (+20%), and Auto (+19%).

Hiring in the IT sector slowed down in Oct’22 as there has been a drop (-18%) in Oct’22 vs last year. Apart from IT, other sectors that recorded a notable decline in hiring sentiments include Telecom (-19%) and Health Care (-13%).

Hiring Trends Across Cities

While Kolkata (+15%) and Mumbai (+8%) continued to grow in hiring activity in Oct’22, Delhi stayed flat with respect to hiring activity vs Oct last year.

With the IT sector showing a decline, the metros of Bangalore (-16%), Hyderabad (-12%), and Pune (-11%) showed a decline in hiring activity.

Amongst non-metros, most key cities exhibited growth in hiring activity, as Jaipur (+8%), Kochi (+5%), Vadodara (+4%), and Coimbatore (+3%) all saw an uptick in demand for white collared professionals.

Hiring Trends Across Experience Levels

While demand across experience professionals stayed neutral in Oct’22, senior professionals with over 13 years of experience saw an uptick in demand growing by (+6%) over last year.

At the same time, demand for freshers stayed flat while the demand for mid-level professionals (4-12 years) declined by -4%.

Methodology

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.

Conclusion

Hiring activity slowed down owing to festivities in Oct’22. The country’s premier hiring index points to a positive impact, yet showing resilience with strong growth(+13%) compared to the festive window last year.

While hiring across key industries remains stable, Insurance continues to rule.
Kolkata leads hiring charts, and non-metros remain steady.

A surge in hiring for leadership roles was witnessed while other bands stay flat.

Career Insights