Optimism In Job Market: Naukri Survey
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Last year, same time, things were a bit gloomy as far as the Indian job market is concerned. However, year 2014 proved to be the harbinger of hope and the hiring picked up. The boom is still on and is reflected in the Naukri Hiring Outlook Survey.
According to the survey conducted amongst 800 recruiters, a profusion of jobs is the key sentiment which is floating in the market. 70 per cent of the recruiters in the IT sector anticipate creation of new jobs in the second half of 2014 while 64 per cent expect new jobs to be on the horizon in the Construction & Engineering sector.
The increments too were in line with the expectations. 40 per cent of the recruiters had given an increment of 10-15 per cent in 2014 while 28 per cent have doled increments in the range of 5-10 per cent. Only 17 per cent of the recruiters handed out a pay hike in the bracket of 15-20 per cent.
The survey also showed that 42 per cent consultants say that 5-10 per cent job seekers were accepting the offer extended to them but not joining it whereas 21 per cent quoted the figure to be in the range of 10-15 per cent whereas 18 per cent of the consultants have put this figure in the range of 15-20 per cent.
In India, talent crunch has always been a major concern for the top recruiters. The first half of year 2014 heralded good news with recruiters expressing an improvement in talent availability with 59 per cent of them quoting that talent crunch has improved in the last six months while 41 per cent opined that talent crunch has intensified in the same time period.
Hitesh Oberoi, Managing Director and CEO Info Edge (India) Ltd said, “The survey is a barometer of the hiring sentiment running amongst the recruiter community. This year we have also included a section on job seeker behavior so as to understand what drives their job search. Economic sentiment is looking upwards and recruiter’s confidence has improved in the previous six months. We expect a further amelioration in hiring activity as global economic prospects turn the corner. Overall, we are upbeat about the hiring outlook in the country".