The Indian job market is constantly changing, making it crucial for job seekers to find new methods to get hired effectively. The first step towards that is understanding current hiring trends. Not only does this give you an insight into the job market, but it can also help you make smart career choices.
However, the question remains, how do you keep yourself up-to-date with the changes across industries, functional areas, and much more? The answer is right here!
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, functional areas, and experience levels.
In this blog, we will look at some of the major highlights from this month’s edition, the Naukri JobSpeak report for August 2021..
Overview of the Hiring Trends
The Indian job market recorded a strong recovery with 89% annual growth in Aug’21, with the Naukri JobSpeak index trending at 2673.
Another victory for the jobs market is that hiring activity in Aug’21 has surpassed pre-pandemic levels in Aug’19 by 24%. Several sectors recorded growth Vs. Aug’19; the IT sector jumped 79% in Aug’21 powering the digital transformation of businesses.
The top 6 metros have grown by 39% on an average in Aug’21 Vs. Aug’19 led by IT hubs Bengaluru (66%), Hyderabad (61%), Pune (54%), and Chennai (30%).
Annually, the demand for senior professionals with 8-12 years of experience saw a maximum increase of 110% in Aug ‘21.
Pawan Goyal, Chief Business Officer, Naukri said,
With a fair share of setbacks in 2020, we can finally acknowledge a trend of overall recovery in the job market. While Jan-May’21 were still in the red compared to pre-pandemic numbers of 2019, we see a positive growth trend starting in June’21.
IT continues to dominate hiring and industries such as Education, Telecom, BFSI and Insurance are bouncing back too. As a result of increased hiring, the requirement for HR/Admin professionals too has seen a substantial uptick indicative of growth plans across organizations.
Hiring Trends Across Industries
IT-Software led hiring with 173% YOY growth in Aug’21. In contrast to the situation in Aug’20 when lockdown regulations were still not relaxed, the Hospitality/ Travel sector has picked up in hiring by 134% in Aug’21.
The Education/Teaching recorded a strong annual recovery growing by 102% in Aug’21 and has now surpassed hiring in Aug’19 by 34%.
The growth in hiring in the Real Estate sector doubled over the last year, indicative of industry health improving. BFSI (74%), Oil and Gas (71%), Retail (68%), and Pharma/Biotech (56%) also saw growth in the same period.
Hiring Trends Across Functional Areas
As major industries get on the track to recovery, hiring for certain roles too have picked up with increased jobseeker movement across the market. Hiring for HR/Admin (169%) and IT-Software (158%) roles has gone up significantly in Aug’21 over Aug’20 among others.
The lockdown restrictions relaxing post the second wave, demand for professionals in Ticketing / Travel (99%) and Hotels / Restaurants (92%) has also gone up.
Hiring has also seen an uptick for professionals in Engineering Design/ R&D (90%), Marketing / Advertising (73%), Banking / Insurance (71%) and Sales/BD (63%) roles.
Hiring Trends Across Cities
The impact of the lockdown in 2020 and resultant freeze in hiring adversely affected the metros which have now bounced back, annually growing by almost 2X in Aug’21 as compared to Tier 2 cities.
IT hubs have continued to dominate hiring, with Hyderabad (147%), Bangalore (153%), Chennai (130%), and Pune (122%) leading the pack.
Tier 2 cities recorded an average annual growth of 64% with Ahmedabad in the lead, growing by 120% in Aug’21.
Hiring Trends Across Experience Levels
The demand for senior professionals with 8-12 years of experience saw the maximum increase of 110% in Aug ‘21 Vs. Aug’20.
Other experience bands such as 0-3 years (79%), 4-7 years (91%), and over 13 years (65%) also recorded commendable growth in the same period.
Methodology
The Naukri JobSpeak is a monthly Index that calculates and records hiring activity based on the job listings on the Naukri 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, belonging to organized corporate sector jobs with the focus on service industries. The report shows hiring trends across industry sectors, geography, experience level, and functional areas.
More than 76,000 clients use Naukri, 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
As major industries get on the track to recovery, hiring for certain roles too have picked up with increased jobseeker movement across the market. Hiring for HR/Admin and IT-Software roles has gone up significantly in Aug’21 over Aug’20 among others.
The demand for senior professionals with 8-12 years of experience saw the maximum increase of 110% in Aug ‘21 Vs. Aug’20. Other experience bands such as 0-3 years (79%), 4-7 years (91%), and over 13 years (65%) also recorded commendable growth in the same period.
At a city level, the top 6 metros have grown by 39% on an average in Aug’21 Vs. pre-pandemic levels in Aug’19 led by IT hubs Bengaluru (66%), Hyderabad (61%), Pune (54%), and Chennai (30%). Delhi-NCR and Mumbai’s recovery has been slower in comparison, up by 16% and 4% respectively in the same period.
In comparison, Tier-2 cities are experiencing a gradual recovery, cumulatively up by 10%, led by Ahmedabad (27%) and Chandigarh (23%). The impact of the lockdown in 2020 and resultant freeze in hiring adversely affected the metros which have now bounced back, annually growing by almost 2X in Aug’21 as compared to Tier 2 cities.
All the best!
