The year 2022 is off to a flying start with a hiring spree across industries, according to the Naukri JobSpeak index, which recorded 41% year on year growth in Jan’22. The country’s premier index was trending at 2716 in Jan’22 vs 1925 in Jan’21. The upswing of hiring activity was observed in multiple sectors with IT-Software, Retail, and Telecom leading the charts.
Hiring activity shoots up in all major sectors
With the beginning of 2022, the hiring sentiment reflected a resilience to the third wave as the corporate world geared up for growth. Outpacing 2021, hiring activity saw strong growth signs in major sectors. Apart from the ones mentioned above, other sectors that observed an uptick in hiring trend compared with last year are Pharma (29%), Medical/Healthcare (10%), Oil and Gas/Power (8%), Insurance (8%), FMCG (7%), and Manufacturing (2%). Auto/Auto Ancillary remained flat in Jan’22 vs Jan’21.
Hiring activity in metros outperforms tier-II cities due to growth in tech hubs
The upswing in hiring in IT-Software and BFSI sectors have enabled metro cities to outperform their tier- II counterparts in the Y-O-Y growth charts. IT hubs of India i.e. Bengaluru (+79%), Hyderabad (+66%), and Pune (+63%) recorded the highest growth in Jan’22. Other metro cities like Mumbai (+58%), Chennai (+54%), Kolkata (41%), and Delhi/NCR (+35%) also witnessed a spike in the hiring trajectory.
Among the non-metros, Ahmedabad (+50%) witnessed highest growth in Jan ‘22 followed by Coimbatore (+43%), Kochi (+27%), Vadodara (+12%) and Jaipur (+8%).
8-12 yrs band once again records highest growth
Hiring across all experience bands was positive in Jan’22 when compared with Jan’21 with demand for senior professionals belonging to the 8-12 yrs (+48%) experience bracket receiving maximum traction. Demand was also high for professionals in the 0-3 yrs (+37%), 4-7 yrs (+42%), 13-16 yrs (+46%), and above 16 yrs (+31%) brackets.
Commenting on the report, Pawan Goyal, Chief Business Officer, Naukri.com said, “2022 has started on a resilient note with hiring sentiment improving across all sectors and cities, despite the third wave. While we saw spurts of growth during the year 2021, the first month of this year has kicked off with a bang as industries across India are gearing up for growth and getting past the previous year.”
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 activity in various industries, cities, and experience levels. The data is compiled from the website wherein jobs posted by clients on Naukri.com are considered. July 2008 is taken as the base with an index value of 1,000 and the subsequent monthly index is compared with the data for July 2008. The report shows hiring trends across industry sectors, geography, and experience level. 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. Data on functional area hiring has been retired due to changes in the nomenclature. Over a long period of time, Naukri JobSpeak could be impacted by factors like internet penetration, Naukri market share, Naukri pricing and job listing drives.