Understanding Hiring Trends With Naukri JobSpeak Report- May 2021
Making informed career choices is the key to professional growth and can help you find your dream job. While finding the right job is crucial for everyone, it can also be quite nerve-wracking, making it important for all job seekers to understand the current hiring trends.
To help you with this, Naukri has released the JobSpeak report, a monthly index that calculates and records month-on-month hiring activity based on the job listings on the website.
The objective of this report is to measure the hiring trends across industries, cities, functional areas, and experience levels.
In this blog, we will discuss the major observations of the May 2021 edition of Naukri JobSpeak Report.
Overview of the Hiring Trends
At an overall hiring level, Naukri JobSpeak stabilized and turned flat (-1%) in May '21, at 2,047 versus April ’21.
The pandemic has accelerated the pace of digital transformation across sectors and created a need for rapid and scaled deployment, thus reflected in the IT-Software industry, growing at +14% sequentially in May '21.
The growth of tech is reflected in hiring as major IT Hubs like Pune (+12%), Bangalore (+9%) and Hyderabad (+4%) saw an uptick in recruitment in May '21 Vs April ‘21.
Hiring for senior professionals is up; 8-12 years experience (+4%), as well as more than 16 years experience (+4%), grew sequentially in May '21.
Pawan Goyal, Chief Business Officer, Naukri said,
Even though the hiring activity declined by 15% in Apr ’21 over Mar ’21, we see hiring turning flat in May ’21, signaling resilience and recovery.
Hiring Trends Across Industries
The IT-Software sector led hiring with +14% growth. The Education/Teaching sector grew by +7% sequentially in May ’21 after posting a continuous decline over the past few months.
While Telecom/ISP (+12%) grew, the Insurance (+2%) sector remained flat. Sectors such as Banking/Finance (-15%), FMCG (-13%) and BPO/ITES (-10%) remained impacted in hiring activity in May '21 Vs Apr ’21.
The shutdown of hotels, restaurants and non-essential offices led to a sequential decline in hiring in sectors such as Hospitality (-41%) and Retail (-20%) in May ’21.
Hiring Trends Across Functional Areas
The Naukri JobSpeak index reports a +14% increase in demand for tech professionals in May ’21 Vs Apr ’21 as majority of tech giants announced bulk-hiring plans for 2021. Teaching/ Education roles grew by 5% in the same period.
The demand for professionals in HR/Admin (-4%), ITES/BPO (-8%), and Content/Journalism (-8%) domains was also less impacted in May '21 sequentially.
Amidst the lockdown restrictions across the country, sequential hiring for Sales/BD (-20%), Production/Quality (-22%), and Purchase/Logistics (-14%) roles saw a decline in May '21.
Hiring Trends Across Cities
Major IT Hubs like Pune (+12%), Bangalore (+9%), and Hyderabad (+4%) saw an uptick in hiring activity in May '21 Vs April '21 led by tech talent demand.
With Maharashtra successfully containing the pandemic, hiring activity grew by +5% sequentially in Mumbai. On the other hand, hiring in Delhi/NCR remained impacted and declined by 11% in May ’21 Vs Apr ’21.
As the pandemic moved further into smaller cities in the second wave, tier-2 cities remained impacted in hiring including Jaipur (-19%), Vadodara (-9%), and Coimbatore (-5%).
Hiring Trends Across Experience Levels
Hiring activity across experience bands remained stable in May ’21 Vs Apr ’21 with the 0-3 years’ experience band (-7%) being the most impacted.
Interestingly, hiring for professionals with 8-12 years experience (+4%) as well as more than 16 years experience (+4%) grew sequentially in May ’21, indicating that organizations prefer experienced professionals to steer them through these turbulent times.
You can read the complete Naukri JobSpeak Report for May 2021 to get an in-depth understanding of the hiring trends.
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 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.