The Naukri Job Speak index for Dec-11 grew by 16% year on year but dipped by 10% when compared to Nov-11 in an extreme volatile economic and hiring scenario
- The end of year holiday season has impacted month on month hiring activity in the IT- Software, ITES, Telecom and Oil and Gas sectors
- Year on year hiring activity has picked up across all industry sectors and functional areas
The Naukri Job Speak index for Dec-11 was at 1072 as compared to 1203 in Nov-11, thus indicating a 10% dip in hiring activity month on month however a year on year comparison of the index indicates positive movement. Traditionally, December has always been a month where recruitment across sectors have been impacted owing to the end of year holiday season, as most companies put their hiring plans on hold.
Hitesh Oberoi, CEO and MD, Info Edge India said "There has been sluggishness in the hiring sentiment towards the end of 2011 and most firms had adopted a cautious optimistic wait and watch approach. A similar trend is likely in the first quarter of 2012 as well."
Industry Sector Analysis:
An in-depth analysis of the
index shows that the hiring activity in the Auto sector has
been upbeat with the index moving up by 6% in Dec-11 when
compared to Nov-11. The index for ITES sector at
731 dipped to an all time low in Dec-11 with the job index
moving down by 20% when compared to Nov-11. This could be due
the ongoing end of year holiday season as well. The index for
Telecom and Oil and Gas sectors saw dips within the range of
20% and 27% in Dec-11 over Nov-11. Construction and
Engineering sector witnessed stable hiring during the month,
while IT- Software witnessed 13% dip in hiring activity in
Dec-11 over Nov-11. A yearly comparison of the index,
however shows positive growth figures for all sectors barring
ITES.
Functional Area Analysis:
Barring Banking and Insurance,
all functional areas witnessed negative growth figures in
Dec-11. Professionals in Software and BPO sector
witnessed their hiring activity dip by 15% and 21%
respectively in Dec-11 over Nov-11. The demand for
professionals in Sales, Project Management and Accounts
dipped by 11%, 17% and 12% respectively in Dec-11 over
Nov-11. However, the three month moving average index does
indicate stability.
City Wise Analysis:
On a monthly basis, Kolkata,
Bengaluru and Delhi saw indices dip by 19%, 15% and 14%
respectively in Dec-11 over Nov-11. Hiring activity in
Chennai, Mumbai and Hyderabad dipped within the range of 8%
and 14% during the same time period. Barring Chennai
which witnessed a 4% upward movement in hiring activity
in Dec-11 when compared with Dec-10, all the other metros saw
double digit percentage growth figures.
The volatility in the monthly index values can be attributed to the uncertain economic environment and holidays on account of festivals (October/December) which sees a lull in hiring activity.Therefore on a three month perspective, Dec-11 has maintained steady hiring levels when compared to Sep-11, after two months of seasonal highs and lows.
About Naukri.com
Naukri.com, India's No. 1 job site and the flagship brand
of Info Edge revolutionized the concept of recruitment in
India. Since its inception in 1997, Naukri.com has seen
continued growth while outperforming its competitors in every
sphere. Info Edge is the first internet Company to be listed
in India.
Naukri.com is a recruitment platform that provides hiring-related services to corporates/ recruiters, placement agencies and to job seekers in India and overseas. It offers multiple products like Resume Database Access, and Response Management tools and its services include Job Postings, and recruiter branding solutions on the site. With 200000 jobs live at any point, Naukri.com serviced over 35500 corporate clients in 2009-2010.
The company has over 1700 people operating through 49 offices in 32 cities in India and overseas offices in Dubai, Riyadh and Bahrain.
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