Most companies anticipate new or replacement hires in July-Dec period: Survey

In a positive outlook for the job market, a recent Naukri Hiring Outlook Survey unveiled that a majority of companies are gearing up to bring in new talent or fill replacement positions in the latter half of 2023. The survey, participated in by over 1,200 recruiters and consultants, offers insights into recruitment trends across various industries in the country.

According to the findings, around 92% of the surveyed recruiters have high expectations for hiring activity. Among them, 47% predicted a mix of new hires and replacements, while 26% were confident that new job openings would emerge. This upbeat sentiment indicates a surge in employment opportunities spanning business development, marketing, and operational roles, which are projected to drive the hiring surge from July to December.

Intriguingly, the survey highlights that about 20% of recruiters intend to keep their current workforce intact, while a mere 4% foresee potential downsizing or layoffs in the coming months. This reflects a strong sense of stability and optimism in the job market.

A significant aspect of the survey revolves around attrition rates, with nearly 70% of recruiters projecting that attrition would remain below 15%. This suggests that employees are likely to retain their current jobs amid the prevailing uncertainties in the job market.

Professionals in the mid-level strata are expected to be in high demand, followed closely by those at the entry-level. Notably, attrition rates are anticipated to be highest within business development, marketing, operations, and HR roles, with mid-level professionals showing the most propensity for job transitions.

The survey also provides insights into salary increments, with 42% of recruiters revealing that their companies had offered less than a 10% raise during the last appraisal cycle. Meanwhile, 31% reported increments ranging between 10-15%.

In sum, the robust participation and optimistic outlook of recruiters in this survey point towards a promising landscape for white-collar hiring in the latter half of 2023. As stated by Pawan Goyal, Chief Business Officer of Naukri.com, "With 92% of recruiters forecasting hiring activity... the survey manifests an optimistic white-collar hiring landscape in the second half of 2023."

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