Understanding Hiring Trends With Naukri JobSpeak Report- September 2022

by Guneev Puri |

The dynamic nature of the job market in India is a mystery to everyone! The constant shift in recruitment processes has made understanding hiring trends crucial to get hired well. But how does one get started?

To help job seekers take the first step, Naukri 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 and offers insights into the hiring activities across various industries, cities, and experience levels.

Read on as we discuss some of the major highlights from this month’s edition, the Naukri JobSpeak report for September 2022.

Overview of the Hiring Trends

Hiring in India amps up ahead of festive season, records 13% YOY growth: Naukri JobSpeak

The job market in India picked up pace ahead of the festive season as companies ramp up their operations.

The Naukri JobSpeak report showcased a spurt in hiring activity in September’22 with the index touching 3103 and recorded a double-digit growth at +13% YOY, and +10% sequential growth.

Key employment sectors recorded significant growth; Insurance continues its dream run.

Amongst metros, Mumbai topped the hiring charts once again.

Hiring sentiment remains positive across the experience bands, leadership roles see maximum jump.

Pawan Goyal, Chief Business Officer, Naukri said,

The JobSpeak Index crossing the 3100 mark in Sep’22 is a great sign marking strong intent amongst recruiters before the festive period kicks in.

It is notable to see that the key sectors of Insurance and Real Estate have maintained their growth momentum and have recorded sterling performances.

Hiring Trends Across Industries

Maintaining its stellar performance, the Insurance sector once again led the charts as it recorded a sequential growth of +90% YOY in Sep’22, while growing by +71% YTD.

Apart from Insurance, Real Estate has also shown a significant jump in hiring intent as it grew by +66% Y-O-Y.

Other sectors such as BFSI (+64%), Travel & Hospitality (+48%), Oil & Gas (+43%), Auto (+23%), FMCG (+20%), and Retail (+17%) also continue to do well.

While the IT sector slowed down recording -6% YOY de-growth in Sep’22 vs Sep’21, the hiring activity has gone up by +8% MOM indicating signs of recovery.

Apart from IT, Medical/Healthcare (-6%) also recorded de-growth in September’22.

Hiring Trends Across Cities

Amongst metros, Mumbai topped the hiring charts as it witnessed +27% Y-O-Y growth.

Other metros exhibited positive annual hiring growth, barring Bengaluru (-8%).

In terms of monthly hiring charts, Delhi rose to the top after registering +14% growth, while Hyderabad (+11%), Kolkata (+11%), Pune (+9%), Chennai (+8%), and Bangalore (+7%) followed close.

Amongst emerging cities, Coimbatore (+25%) witnessed the highest uptick in hiring activity. Other cities such as Ahmedabad (+23%), Jaipur (+17%), and Chandigarh (+11%) also showed positive hiring growth. However, Kochi and Vadodara remained flat.

Hiring Trends Across Experience Levels

The demand for professionals across all experienced bands remained steady in Sep’22 vs last year.

Professionals with >16 years of work experience saw the steepest uptick at +15% followed by 13-16 years of work experience band recording +10% growth.

Professionals with 8-12, 4-7, and 0-3 years of experience exhibited positive growth at +10%, +8%, and +9% respectively.

Methodology

The Naukri JobSpeak is a monthly Index representing the state of the Indian job market & hiring activity based on new job listings and job-related searches* by recruiters on the resume database on Naukri.

The JobSpeak Index captures hiring activity across multiple dimensions, including industries, cities, functional areas, and experience bands. July 2008 is taken as the base month with an index value of 1,000, and the subsequent monthly index values are compared with the data for July 2008.

The index is a highly robust and reliable indicator of white-collar hiring in India. It is aggregated based on the hiring activity of over 100,000 clients with over 70 Lakh new job mandates yearly.

The report does not cover gig employment, hyperlocal hiring, or campus placement. Over a long period of time, JobSpeak could be impacted by factors like internet penetration and Naukri's market share.

*Index now includes job-related searches on Naukri's resume database, which helps generate statistically significant data at a more granular level.

Conclusion

Here is a brief conclusion of the report:

  • The job market in India picked up pace ahead of the festive season as companies ramp up their operations.
  • The Naukri JobSpeak report showcased a spurt in hiring activity in September’22 with the Naukri JobSpeak index touching 3103 and recording a double-digit growth at +13% YOY and +10% sequential growth.
  • Key employment sectors record significant growth, Insurance continues its dream run.
  • Metros drive hiring activity with Mumbai leading the charts.
  • Hiring sentiment remains positive across the experience bands, Leadership roles witness the maximum jump.
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