Showing optimism about hiring trends after a long time, about 92 per cent of recruiters expect either new or replacement or both hiring forms to happen over the next six months, according to a survey by recruitment portal Naukri.com.
Nearly 47 per cent of the recruiters predict new and replacement hiring, 26 per cent expect only new job creation and 20 per cent say they would maintain their headcount in the coming six months, according to Naukri’s Hiring Outlook Survey.
It said only 4 per cent of recruiters surveyed foresee layoffs or downsizing in the July-December 2023 period.
The survey, titled ‘Naukri’s Hiring Outlook Survey’, is a bi-annual survey conducted among 1,200 recruiters and recruitment consultants to gauge forward-looking hiring trends across companies and industries.
According to the survey, most recruiters foresee business development, marketing, and operation roles to be leading hiring in the coming six months. Mid-experience professionals were expected to remain in demand, followed by entry-level professionals.
Pawan Goyal, chief business officer at Naukri.com, said, “With 92 per cent of recruiters forecasting hiring activity, coupled with a return to normalcy in hiring practices anticipated by more than half of the recruiters surveyed, hiring outlook survey manifests an optimistic white-collar hiring landscape in the forthcoming half of 2023.”
Attrition Expected to Ease Out In 6 Months
Nearly 70 per cent of recruiters surveyed expect attrition rates to remain below the 15 per cent level in the coming six months, and only a tiny fraction of them predicted higher attrition rates of 40 per cent or more.
These expectations around attrition trends show that employees will look to hold onto their current job profiles amidst current job market uncertainties.
Highest attrition rate are expected across business development, marketing, operations, and HR roles, as well as, mid-level experience professionals.
Increments Rolled Out In the First Half of 2023
The majority of recruiters surveyed remained cautious with respect to increments offered by their organisations during the last appraisal cycle, with 42 per cent of recruiters saying that their companies gave less than 10 per cent increment and 31 per cent of recruiters revealing that their organisations gave increments in between 10-15 per cent.
Only 6 per cent of recruiters surveyed said that more than 30 per cent of increments were rolled out in the last appraisal cycle.
Campus Hiring Trends
Nearly 36 per cent of recruiters surveyed indicated campus hiring to go ahead as per current plans, 11 per cent expected campus hiring to amp up in the next six months while 39 per cent of recruiters indicated campus hiring to go on hold, according to the survey.
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