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Hiring activity recovers steadily by 12 percent in August 20:Naukri JobSpeak


New Delhi:The Naukri JobSpeak Index for August20, at 1413, marks an improvement of 12% in hiring activity as compared to July20, at 1263. The M-O-M improvement indicates that hiring activities are in sync with the unlock measures that are aimed at reviving the economic activity. However, at a Y-O-Y level, hiring is still down by 35% in August20.

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Naukri JobSpeak Index (M-O-M)



There seems to be no respite for the Hospitality & Travel (-80%) industries as they continue to be the most impacted sectors. Oil & Gas/Power (-59%), Retail (-54%) and Accounting/Taxation/Finance (-46%) sectors witnessed steep decline in hiring activity in August20 Y-O-Y. Industries such as Medical/Healthcare (-1%), Telecom (-9%), IT-Hardware (-25%), and BPO/ITES (-26%) remained less impacted in hiring. Being at the forefront in battling the pandemic, the Pharma/Biotech (+15%) sector witnessed a positive demand for professionals in August20 Y-O-Y. Interestingly, the demand for roles in the Banking/Insurance segment remains stable.

Given the intensity of the pandemic in metros, the hiring activity in metros declined more than the national average (38% vs 35%) in August20 Y-O-Y. Mumbai (-44%), Chennai (-41%) and Delhi NCR (-40%) led the decline in hiring in metros. However, smaller cities such as Jaipur (-23%), Vadodara (-23%) and Chandigarh (-15%) were least impacted. Recruitment across the board declined at varied experience levels with the entry-level experience bands (0 to 3 yrs exp) witnessing the sharpest decline of 38% in August20 as compared to last year same time.

Referring to the report,Pawan Goyal, Chief Business Officer, Naukri.comsaid,It is encouraging to see the month on month progressive growth in hiring from the past three months as a result of the nation-wide unlocking. While the Pharma/Medical, IT and BPO/ITES sectors continue to spearhead hiring, other key sectors like Telecom, Retail and Real Estate are also signaling strong recovery in August20 as compared to July20. We are hopeful that the recoveries will become more robust in the coming months.

M-O-M Hiring Deepdive|August20 versus July20

Sectors such as Telecom (57%), Retail (53%), Real Estate (34%), and Insurance (21%) saw an uptick in M-O-M hiring as industries begin to function because of the unlock guidelines. Hiring in key industries such as Recruitment/Employment (19%), Auto (17%), BPO/ITES (16%) and IT-Software (14%) continues to improve while FMCG (1%) and Hotels/Restaurant/Travel (2%) sectors were flat versus last month. Further, the Oil and Gas/Power sector remains severely impacted and declines by 10% even at a sequential level.

Hiring across experience levels also grew by an average of 10% in August20 as compared to July20. This was led by a 14% increase in hiring for entry-level executives. (0-3 yrs. exp.) Even the leadership hiring (>16 yrs. exp.) grew by 11% sequentially.

From a city perspective, there is sequential growth in hiring across all metro cities led by Kolkata (27%) and Bengaluru (22%). Tier 2 cities such as Chandigarh (8%) and Kochi (7%) continue to see growth in recruitment activities in August20 as compared to July20. However, Coimbatore saw a decline of 11% in sequential hiring.

Additionally, demand for professionals in Marketing/Advertising (20%), ITES/BPO (19%), HR/ Administration (18%) and Pharma/Healthcare (15%) saw an uptick in M-O-M hiring. It is also interesting to see hiring pick-up for roles in the Teaching/Education sector (14%) in August20, which was significantly impacted in earlier months.


Methodology

The Naukri JobSpeak is a monthly Index that 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. December 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 December 2008. The jobs analyzed for the monthly Index are qualified based on white-collar, urban, belonging to organized corporate sector jobs with the 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, the Naukri JobSpeak was impacted by the increase in the Naukri traffic share, internet penetration, Naukri pricing strategy and job listing drives.