‘Firms to step up hiring by June’
Premium- Hiring will be back to pre-pandemic levels in the first half of this year led by openings in IT, marketing: Naukri.com
MUMBAI : Higher attrition rates and talent shortage will drive hiring across sectors in 2022, with 40% employers ready to offer an average increment of more than 15%, according to estimates by job portal Naukri.com.
According to Naukri’s Hiring Outlook Survey 2022, hiring will be back to pre-pandemic levels in the first half of this year with a bulk of the fresh hiring expected in information technology (59%), business development (43%) and marketing (36%).
As much as “57% recruiters indicated both new and replacement hiring till June, vis-a-vis 51% in last year’s survey", the survey said.
Naukri surveyed 1,879 companies and consultants, out of which 62% expected hiring to return to pre-pandemic levels by June. An uptick in campus placements is another indicator of positive market sentiment.
Besides, companies need to brace for higher attrition, with 67% recruiters saying employees with 3-5 years of experience to be the most sought after, followed by those with 1-3 years of experience and middle management with 5-8 years.
“The anticipation of returning to normalcy by companies is fuelling a strong hiring sentiment as there has been a pent-up demand across sectors," said Pawan Goyal, chief business officer, Naukri.com.
“The survey corroborates this narrative as 57% recruiters indicated a surge in both new and replacement hiring in their organizations. Only 2% recruiters foresee a hold on hiring, while just 1% indicated layoffs for coming months which indicates re-stabilization after a turbulent period," he added.
While 40% of the recruiters surveyed expect increments to exceed 15%, only 6% are expected to roll out an increment of less than 5%. In February, Deloitte Touche Tohmatsu India LLP said India Inc. will give 9.1% hike in 2022, up from 8% in 2021.
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According to Deloitte, the salary increases are happening at a time average attrition has jumped from 15.8% in 2020 to 19.7% in 2021, with voluntary attrition going up by more than 5% between 2020 and 2021.
Though India Inc. is considering a hybrid work model, 42% of the recruiters said work from home is equally productive as working from office, while around 14% said they will have smaller teams working from office, going ahead.
On Tuesday, skill assessment and talent acquisition firm Mercer|Mettl released a study estimating that covid-19 was the biggest deterrent in employee upskilling plans and it severely dented learning and development initiatives of Indian companies.
“...nearly 64% of respondents said covid-19 had the greatest impact on employee reskilling and upskilling strategies, indicating lack of clarity on future skills," it said in The State of L&D (learning and development) Report 2022.
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