December 8 2010
- In Nov-10, barring Telecom and Pharma which witnessed an upward swing in hiring, the festive season decline impacted all other leading sectors
- Kolkata saw strong hiring trends with the index surpassing the July-08 levels and moving up by 8% in Nov-10 when compared to Oct-10
- The festive season dip this year is in line with what was witnessed in the earlier years as well
The Naukri Job Speak index for Nov-10 was at 922 as compared to 949 in Oct-10, thus indicating a marginal decline of 3% month on month. Traditionally, this fluctuation is a seasonal decline every year owing to the Diwali and Dusshera festivities where companies generally scale back their recruitment plans. Therefore, although November witnessed lower hiring figures across cities and industries, the stable three month moving average indices indicates sustained growth in hiring activity.
Hitesh Oberoi, CEO and MD, Info Edge India said "With new budgets and plans kicking in from Jan onwards in many companies hiring should start looking up again in the next quarter".
Industry Sector Analysis:
An in-depth analysis of the indices shows that barring Telecom and Pharma which registered 5% and 4% growth respectively in Nov-10 over Oct-10, all other key industry sectors registered monthly declines. When we look at the three month moving average indices all core sectors maintained stable levels thus confirming that this dip was due to the festive season.
After attaining all time high indices in the past months, the index for IT- Software and Auto sector dipped by 6% respectively in Nov-10 over Oct-10. Nevertheless, on a year on year basis the IT sector is up by 26% and Auto by 30% in Nov-10 over Nov-09. Both BPO and Construction sectors edged down by 4% respectively in Nov-10, while the Banking and Financial services sector maintained steady hiring levels.
Functional Area Analysis:
The hottest skill sets for the month of Nov-10 were HR and Admin where the index moved up by 2% in Nov-10 as compared to Oct-10. All other key functional areas like Software Development, ITES, Sales and Marketing witnessed monthly dips within the range of 2% and 5%. However the three month moving average index indicates stability in the hiring scenario.
City Wise Analysis:
In Nov-10, Kolkata and Delhi saw the index surpassing July-08 levels, with growth of 8% and 2% in Nov-10 as compared to the previous month. Chennai also maintained steady hiring levels while Bangalore and Mumbai witnessed 5% dip in the index respectively when compared to the previous month. The festive season had greater impact on both Pune and Hyderabad which registered monthly declines of 20% and 11% in Nov-10 over Oct-10.
Overall, the index seems to have stabilized at an elevated level indicating a positive hiring sentiment across most markets and industry sectors for the coming months.
About Naukri.com
Naukri.com, India's No. 1 job site and the flagship brand of Info Edge revolutionized the concept of recruitment in India. Since its inception in 1997, Naukri.com has seen continued growth while outperforming its competitors in every sphere. Info Edge is the first internet Company to be listed in India.
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, and Response Management tools and its services include Job Postings, and recruiter branding solutions on the site. With 200000 jobs live at any point, Naukri.com serviced over 35500 corporate clients in 2009-2010.
The company has over 1700 people operating through 49 offices in 32 cities in India and overseas offices in Dubai, Riyadh and Bahrain.
Send to a Friend
Print This Page
