Latest News

Hiring activity picks pace across six key industries amidst a tough job market

COVID-19 has proven to be a wave-maker for most of the Indian industries. The global pandemic has drastically changed the employment scenarios in India and forced many companies to realign their business goals. As India begins to re-open in fits and starts, we see definitive indicators of recovery, especially in the job market.

The overall hiring activity increased by 33% in the month of June 2020 sequentially as per the Naukri JobSpeak Report, a monthly Index that calculates and records hiring activity based on the job listings on Naukri.com website month on month.

Lets take a closer look at the hiring trends across some key sectors that show improvements in jobs in the last month.

https://www.businessmanager.in/uploads/1595398366pasted_image_0.png

1)Pharma / Biotech -According to Naukri.com JobSpeak report, the Pharma/Medical sector, which has been at the forefront of fighting the global pandemic, has been least impacted in hiring activity. The sector saw a substantial improvement of 27% in creating jobs in June20 as compared to May20. The city of Hyderabad, a hub for medication supplies to the country, along with Kolkata were the two cities that saw the least decline in hiring activity for the sector. Interestingly, the industry was seeing a decline in hiring post December 2019, reaching its lowest in April 2020, at -54%, still better than the national average of -62%.

https://www.businessmanager.in/uploads/1595398397image2_(1).png

Pharma/Biotech: Y-O-Y Hiring Trends

2)IT-Software- IT-Software sector continues to contribute to the growth of overall hiring activities as the leading job creator in the country. The sector, which had been growing strongly in terms of hiring since the last year, remains one of the least impacted sectors as well when it comes to the current global crisis. The last month of the quarter saw an uptick of 19% in hiring sequentially. Delhi-NCR and Ahmedabad are the two cities leading the revival of the sector recording positive sequential growth. The demand for IT professionals also grew by 21% in the month of June versus previous month. The industry is still down by 42% in hiring Y-O-Y though.

https://www.businessmanager.in/uploads/1595398384image1.png

3)BPO & ITES -Acting as auxiliary functions for many industries, primarily ITES, BPOs have suffered under this lockdown from challenges faced in translating desk to WFH jobs. An estimated number of job losses translate to about 0.68% of the 43.6 lakh employed by the Indian IT and BPO sectors as per the NASSCOM Quarterly Report. With Unlock 1.0 coming into force, the industry has seen a 48% growth in job listings on Naurki.com in June20 versus the previous month, with Bangalore and Pune showing the fastest signs of recovery.

https://www.businessmanager.in/uploads/1595398423image3.png

4)Hospitality / Travel -Being one of the most adversely affected industries, hiring was at its lowest in April20 and May20. The hiring activity in the last year has been declining for the sector and we saw a steep decline of over 90% in April and May due to the pandemic. However, the relaxations through Unlock 1.0 have indicated an improvement of 107% in June20 versus last month. Chennai and Delhi

NCR have seen an improvement in hiring for hospitality roles for the month of June20 sequentially.

 https://www.businessmanager.in/uploads/1595398435image4.png

5)Retail -According to Naukri.com JobSpeak report, another industry that was most impacted amid the pandemic was the Retail industry. The industry has been seeing low Y-O-Y growth rates in hiring over the last year. The sector picked up momentum in hiring in the month of June20 by 77% and we can expect improvements in upcoming quarters. The retail industry faced many challenges due to the nation-wide lockdowns and underwent several changes in its functioning. What is noteworthy here is that in 2020, the retail industry saw a decline beginning in January 2020 (-8%) compared to December 2019 (3%) and hit its lowest in May 2020 (87%).

https://www.businessmanager.in/uploads/1595398462image6.png

6)Auto/ Ancillary -The series of events has put the Auto/Ancillary industry under the spotlight in the second quarter. Inspite of fighting multiple battles from production to export/import of raw materials, the industry saw 77% M-o-M growth in the hiring activities in June20. The cities that contributed to the growth were Pune and Bengaluru. In the last year, the industry witnessed a decline in the hiring index starting March19 and has been declining ever since.

https://www.businessmanager.in/uploads/1595398448image5.png

Methodology

The Naukri JobSpeak is a monthly Index, which calculates and records hiring activity based on the job listings on Naukri.com website month on month. The objective of Naukri JobSpeak is to measure the hiring activities in various industries, cities, functional areas and experience levels. The data is compiled from the website wherein jobs posted by clients on Naukri.com are considered. Thus, the job speak index includes jobs that might be for replacement hiring. November 2008 is taken to be the base with an index value of 1,000 and the subsequent monthly index is compared with the data for November 2008. The jobs analyzed for the monthly Index are qualified on the basis of white-collar, urban, belonging to organized corporate sector jobs with the main focus on service industries. The report shows hiring trends across industry sectors, geography, experience level, and functional areas. More than 76,000 clients use Naukri.com, leading to the high reliability of data. The report does not cover gig employment, hyperlocal hiring or campus placement. Over a long period of time, the Naukri JobSpeak was impacted by the increase in the Naukri traffic share, internet penetration, Naukri pricing strategy and job listing drives.