Naukri.com’s Hiring Outlook Survey recently conducted a comprehensive bi-annual study encompassing insights from 1200 recruiters and recruitment consultants. The survey showed a prevailing sense of optimism regarding the hiring landscape for the latter half of 2023. Let’s uncover these encouraging trends.
Optimism in Hiring Trends
An overwhelming 92% of the recruiters participating in the survey expressed optimism about the hiring climate in the next six months. These professionals foresee various forms of hiring, including new positions, replacements, or a combination of both, actively taking place. Of those surveyed, 47% predicted a blend of new hires and replacements, 26% anticipated only new job openings, and 20% indicated they would maintain their current workforce size. On the other hand, a mere 4% of respondents foresaw any potential layoffs or downsizing during the July to December 2023 period.
Top Roles in Demand
The survey results also highlighted key areas of focus for recruiters in the coming six months. Business Development, Marketing, and Operations roles are expected to be at the forefront of hiring activities. Additionally, mid-experience professionals are likely to remain in high demand, closely followed by entry-level candidates.
Attrition Expected to Stabilize
Recruiters appear confident that attrition rates will stabilize in the near term, with nearly 70% of respondents expecting attrition to remain below the 15% mark over the next six months. Only a small fraction of those surveyed predicted attrition rates exceeding 40%. These expectations signal that employees are inclined to retain their current positions amid ongoing job market uncertainties. The roles most susceptible to attrition include Business Development, Marketing, Operations, HR, and mid-level experience positions.
Moderate Increment Trends
When it comes to salary increments, caution prevails among recruiters. A substantial portion of respondents (42%) reported that their organizations provided increments of less than 10% during the most recent appraisal cycle, while 31% indicated increments ranging from 10% to 15%. A mere 6% of those surveyed noted increments exceeding 30%.
Campus Hiring Expectations
Regarding campus hiring, 36% of recruiters foresee plans proceeding as initially laid out, while 11% anticipate a surge in campus hiring over the next six months. However, a significant portion (39%) expects campus hiring to be put on hold.
Pawan Goyal, Chief Business Officer at Naukri.com, reflected on the survey’s findings, stating, “With 92% of recruiters anticipating heightened hiring activity and more than half expecting a return to normal hiring practices, the Hiring Outlook Survey paints a positive picture for white-collar hiring in the latter half of 2023.” The results of this survey indeed point to a promising horizon for job seekers and employers alike as they navigate the second half of the year.