Naukri sees uptick in hiring, y-o-y trend still subdued

Naukri sees uptick in hiring, y-o-y trend still subdued

Senior-level executives with 4-7 years of experience saw a dip of 25%.Senior-level executives with 4-7 years of experience saw a dip of 25%.

The Naukri JobSpeak Index for September 2020, marks an improvement of 24% in hiring activity compared to August 2020. However, at a y-o-y level, the overall hiring is still down by 23% in September. On a y-o-y basis, hiring in hotels, restaurant, airlines and travel declined by 71%, retail was down 50%, oil & gas and power declined 45%.

According to the survey, accounting, taxation and finance declined 34% and IT-Software was down 32%.
In terms of the cities, Mumbai witnessed the sharpest decline in hiring activity with a fall of 35%, Delhi NCR was down 33%, and Bengaluru came in lower by 33%. However, tier-II cities such as Jaipur at 13% and Chandigarh at 11%, showed robust hiring growth.

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Recruitment across the board declined at varied experience levels with the entry-level experience bands of 0 to 3 year experience witnessing the sharpest decline of 29%. Senior-level executives with 4-7 years of experience saw a dip of 25%.

The middle management roles with 8-12 years of experience declined by 23%, senior management roles with 13-16 years experience declined by 17% and leadership roles with more than 16 years of experience declined by 15%.
Pawan Goyal, chief business officer, Naukri.com, observed that while the hiring is yet to touch last year levels and is down by 23% in September 2020 versus September 2019, this is a marked recovery from a 35-60% decline witnessed in the last few months.

“The last quarter has seen significant uptick in the hiring activity, growing at 14% compared to 8% decline in April, May and June.

“Businesses that are leveraging digital channels for dissemination and consumption of goods and services are thriving and will continue to do so as we imbibe social distancing norms in our daily lives. With increased mobility and focus on health, we are hopeful that hiring activity will further improve in sectors like medical, healthcare, insurance and financial services,” he said.

FE reported on October 12 that hiring momentum in full-time employment has gained pace in September, with 1.64 lakh openings in September representing 93% of the overall 1.76 lakh openings seen last month.

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