The grim global macro economy is yet to see any significant effect on the overall recruitment scenario in India, but some sectors like ITES and Banking have started witnessing dip in the index thus indicating caution in the environment. The Naukri Job Speak index for Sep-11 shows steady hiring trends with the job index moving up marginally by 0.6% from 1087 in Aug-11 to 1094 in Sep-11. However, a yearly comparison shows that the index moved up 16% in Sep-11 when compared to the same time last year.
Hitesh Oberoi, CEO and MD, Info Edge said “Corporate India is likely to see a deceleration in hiring activity in the coming months as both employers and employees adopt a "wait and watch" approach amid global economic slowdown and volatile markets.”
Industry Sector Analysis:
Telecom, Insurance and BPO sectors saw dips in their monthly hiring activity. The index for Telecom and BPO sectors dipped by 9% respectively in Sep-11 when compared to Aug-11, while hiring activity in the Insurance sector saw 11% dip during the same period. IT- Software, Banking and Oil and Gas sectors witnessed marginal 3% dips in their monthly hiring activity. The three month moving average index also show a dip in hiring activity for IT, ITES and Banking sectors. However, yearly comparison shows positive growth figures for all sectors barring ITES and Telecom.
Functional Area Analysis:
A month on month analysis of key functional areas shows that the demand for professionals in Production, Marketing and Project Management moved up by 8%, 6% and 3% respectively in Sep-11 over Aug-11. Mirroring the monthly hiring trends of the IT- Software and ITES sector, Software and BPO professionals saw their hiring activity dip by 3% and 11% respectively during the same time period. The demand for Sales and HR professionals remained steady in Sep-11 when compared to Aug-11.
City Wise Analysis:
Among the top metros of the country Delhi, Chennai and Bangalore witnessed dips in hiring activity by 6%, 4% and 2% respectively in Sep-11 when compared to Aug-11. Mumbai and Kolkata saw steady hiring levels, while Hyderabad and Pune witnessed 5% and 3% upward movement in hiring activity.