67 percent Recruiters say New Jobs to be created in Jan-June 2018: Naukri’s Survey
A positive sentiment prevails among recruiters with as significant as 52 percent of them looking at hiring for experience band of 0-3 years.
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Naukri.com, India’s Job Site, on Wednesday published the results of its Semi-Annual survey, ‘Hiring Outlook 2018’. Reflecting the sentiment across industries, the survey indicates a robust hiring outlook for the first two quarters of 2018. 67 percent of the respondents in the survey are optimistic towards the creation of new job opportunities as compared to 60 percent in July last year while 20 percent indicated that only replacement hiring will happen over the period.
A positive sentiment prevails among recruiters with as significant as 52 percent of them looking at hiring for experience band of 0-3 years. Also, 35 percent indicate that the maximum opportunities would be for 4 - 8 years of experience. The survey highlights some of the key industries like - Information & Technology (76 percent), Construction and Engineering (69 percent), Banking & Finance (64 percent) and Automobiles (65 percent) - which strongly suggest hiring trend to continue for the coming months.
V. Suresh, chief sales officer, Naukri.com commenting on the results of Hiring Outlook said, “Looks like the job market is likely to sustain the momentum gained over the past few quarters and move further north. Good times ahead for jobseekers & they need to learn/un-learn, stay relevant & prepare them for the new jobs on the horizon”
Attrition Rate to be on the rise
On being asked about attrition 42 percent of the recruiters surveyed stated attrition to be upwards of 10 percent in their respective industries.
Talent crunch a persistent issue
Talent crunch was one of the major matter of concern that prevailed among the recruiters. 40 percent recruiters stated that the issue prevails the highest amongst the mid-level employees with 4-8 years of experience. 45 percent of the respondents believed that talent shortage intensified in the last two quarters as compared to first two quarters of 2017. In terms of their outlook towards the future, 10 percent of the respondents felt that the talent crunch will improve in the next six months.
On being asked about the increments given out last year - 41% recruiters stated the increments to be in the range of 10 percent to 20 percent while 7 percent said that it was more than 20 percent. 8 percent recruiters of one of the key industries such as IT voted for the increment range to be greater than 20 percent.The ongoing optimism in the market regarding job creation and the existing talent crunch only signifies the need of up skilling and reskilling of the existing workforce which is the need of the hour in order to stay relevant in their jobs.
The survey saw a strong participation of over 1500 recruiters across industries.