March 2 2015
NaukriGulf Hiring Outlook: 74% recruiters and consultants expect new job creation in first half of 2015
Key Highlights
- 62% recruiters and 92% consultants expect creation of new jobsin the first half of 2015
- 86% of recruiters expect the new job creation to be in the Hospitality sector while 73% of the recruiters expect the same in the Construction & Engineering
- Most jobs are expected to be created for people with 3-8 years of work experience followed by people with 1-3 years of work experience
- 53% of the recruiters said that the attrition rate in their companies in Jan 2015 was less than 10%
- 34% of the recruiters are expected to give increments in the range of 5% - 10% and 24% of them expect increments to be in the range of 10% - 15% in the first half of 2015
XX, 2nd March 2015: A surfeit of jobs in the firsthalfof 2015 is the key sentiment that has surfaced from NaukriGulf Hiring Outlook survey 2015 &ndash a half yearly survey which gauges the hiring sentiment of companies and consultants and covers a plethora of sectors.Amongst the total respondents, recruiters who took the survey accounted for 63% and consultants accounted for 37%.More than two thirds (74%) of recruiters and consultantswho participated in the survey forecasted creation of new jobs in the first half of 2015, while this figure was at 61% in the first half of 2014.
53% of the consultants reported Oil & Gas to expect bulk of jobs to be created and hiring to take place whereas 86% of recruiters expects jobs to be created in Hospitality sector
Hospitality and Construction & Engineering Sectors were favorites among the recruiters in their prediction regarding which sector was expected to witness maximum job creation. On the other hand, consultants&rsquo expect Oil & Gas and Construction to create maximum jobs in the first half of 2015.
34% of recruiters surveyed expect to give increments in the range of 5%-10%
There is anincrease in the increments that are expected to be given out in 2015. In Jan 2015, 34% recruiters are expected to give increments in the range of 5% -10% whereas 24% of recruiters are expected to hand out 10% - 15%. However, 19% recruiters expect to give a pay hike of less than 5%.
53% of the recruiters said that the rate of attrition in their company was less than 10% in Jan 2015
On being asked about the attrition rates, the recruiters said that the year 2015is in tandem with the 2014 figures. 52% of recruiters expect the rate of attrition to be stable in the first half of 2015, 16% articulated that they expect a decrease in the rate of attritionand 32% of themexpectthe rateto increase in the first half of 2015.
Hitesh Oberoi, Managing Director and CEO Info Edge (India) Ltd said, &ldquoAs far as job creation and hiring scenario is concerned, 2015 will be a much better year in comparison to 2014 given the increased stability in the political and economic environment of the country. The phenomenon of job creation will be led by the Hospitality sector followed by the construction industry and even the Oil & Gas and Manufacturing sectors are showing healthy signs.&rdquo
75% of recruiters quoted that talent crunch has improved in the last six months.
The first half of year 2015 heralded good news with recruiters expressing an improvement in talent availability. The survey has also indicated that the maximumtalent crunch is felt in the experience bracket of 1-3 years followed by professionals with an experience of 3-8 years.
Jobseeker Insights
As a part of the NaukriGulf Hiring Outlook survey, we also asked consultants to share with us their understanding of jobseeker behaviour related with job search and change. These findings are crucial to an in-depth understanding of the qualitative aspects that govern a job seeker&rsquos choices pertaining to job change and job offer acceptance or decline.
The trend among jobseekers is that they do not join a company after an offer is made to them
38% of the consultants said that 5-10% jobseekers do not join a company after an offer has been made to them. 30% of them quoted this range to be 10%-15% and 17% of consultants have put this figure in the range of 15%-20%. The primary drivers behind this trend are either the jobseekers are retained by their companies or they are made a better offer by another company.
53% of the consultants reported salary to be a primary driver of job change in jobseekers
24% consultants of the consultants reported growth prospects as a primary reason driving the need for a change in job. Work life balance, designation and industry change were other reasons that were reported as important when considering a job change.
The next Hiring Outlook survey will be released in August 2015.
Methodology: The Naukri&rsquos Hiring Outlook survey is conducted twice a year to gauge hiring trends across sectors. This gives a clear outlook about the employment opportunities in the market and throws light on increments, job opportunities and attrition levels. It is a half-yearly e-mail survey which is sent out to the registered clients of Naukri.com. The results are compiled using statistical and analytical techniques.
About Naukri.com
Naukri.com, India&rsquos No. 1 job site and the flagship brand of Info Edge introduced the concept of e-recruitment in India. Since its inception in 1997, Naukri.com has seen continued growth while outperforming its competitors in every sphere. Info Edge was the first internet Company to be listed in India. The site enjoys a traffic share of 69% as per recent ComScore data. Naukri.com is a recruitment platform that provides hiring-related services to corporates/ recruiters, placement agencies and to job seekers in India and overseas. It offers multiple products like Resume Database Access, listings and Response Management Tools. With 1, 25000 jobs live at any point and over 38 million CV&rsquos, Naukri.com serviced over 48000 corporate clients in 2013-2014. The company employs over 3100 people operating through 56 offices in 42 cities in India and overseas offices in Dubai, Riyadh, Abu Dhabi and Bahrain.
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