Smart career choices and understanding of hiring trends can have a significant impact on your job search and career trajectory.
But finding insights on both of these is a crucial yet difficult task. Well, not anymore!
To make the jobseekers' lives easy, Naukri offers its monthly edition of the Naukri JobSpeak report. It is a monthly 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 take a look at some of the major highlights from this month’s edition, the Naukri JobSpeak report for July 2021.
Overview of the Hiring Trends
Hiring activity in India is at an all-time high and surpasses pre-Covid levels; jobs grew by 11% from July‘21 to June'21: Naukri JobSpeak.
The IT-Software/Software Services sector maintained its steady, upward growth with an 18% increase in July ‘21. The Hotels/Restaurants/Airlines/Travel (+36%) and Retail (+17%) sectors, which were severely hit by the movement restrictions during the pandemic continued to show growth for the second month in a row.
Hiring activity in most IT hubs witnessed double-digit growth. Metro and tier-II cities witnessed an average of 12% and 8% growth respectively.
Hiring data for all experience bands continues to remain positive. The fresher's band of 0-3 yrs saw the highest growth at 14% in July‘21.
Pawan Goyal, Chief Business Officer, Naukri said,
July ‘21 has provided conclusive proof of the revival of hiring activity in the country, after a setback in April and May ‘21. Not only has it increased by 11% in this month, but the Naukri JobSpeak Index has reached an all-time high in July ‘21, even surpassing pre-Covid levels.
The most noteworthy and consistent growth over the last few months belongs to the IT/ITES sector and the tech functional area, which has stayed relatively insular to the effects of the pandemic.
This demonstrates that the digital transformation of Indian businesses is well underway and central to recovery efforts after the pandemic.
Hiring Trends Across Industries
Almost all sectors registered positive growth in July ‘21, with the IT-Software/Software Services sector growing by 18%.
Hiring activity in Accounting/Taxation (+27%), FMCG (+17%), Banking/Financial Services (+13%) and Education/Teaching (+8%) saw positive sequential upswing in July’21 v/s June'21.
The Hotels/Restaurants/Airlines/Travel (+36%) and Retail (+17%) continued their recent good run.
The Pharma/Biotech/Clinical Research sector saw a marginal drop of 5% in jobs while the Media/Dotcom/Entertainment sector dropped by 15% in July ’21.
Hiring Trends Across Functional Areas
Sectors like Hospitality (+44%) and Travel (+42%) bounced back in July’21 and Sales/BD (+15%), HR/Administration (+11%), and Accounts/Finance (+10%) also saw a sequential rise in hiring activity in the last one month.
The Naukri JobSpeak index reports a 16% increase in demand for tech professionals, building on the 4% growth shown in June’21.
The Naukri JobSpeak index for July’21 reports 9% and 4% growth in the Banking/Insurance and Teaching/Education roles respectively.
Hiring Trends Across Cities
Prominent IT hubs such as Bengaluru (+17%), Hyderabad (+16%), and Pune (+13%) witnessed double-digit growth in hiring during July’21 vs June’21.
India’s megacities Delhi/NCR (+13%) and Mumbai (+10%) also kept up with similar growth, while hiring in Chennai and Kolkata grew at 10% and 4% respectively.
Among the smaller cities, Coimbatore (+24%) and Jaipur (+11%) clocked positive growth, while Ahmedabad (-3%) was the only city to record negative numbers in July’21.
Hiring Trends Across Experience Levels
Hiring data for all experience bands continues to remain positive. The fresher's band of 0-3 yrs saw the highest growth at 14% in July‘21.
Senior professionals belonging to the 4-7 years (+11%), 8-12 years (+9%), 13-16 years (+5%), and 16+ years (+4%) categories also witnessed increased demand in July’21.
You can read the complete report here.
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
Hiring activity in India has touched an all-time high in July 2021, indicating a strong revival of economic growth and sustained recovery from the impact of Covid-19 on business, according to the latest Naukri JobSpeak report.
The country’s premier index on hiring trends grew by 11% in July’21 v/s June’21, to touch 2,625, the highest it has ever been, including the pre-COVID timeline.
The Indian job market has witnessed sequential growth for the second month in a row, with a 15% rise in June’21, after a pandemic-linked decline in April and May’21.
