India's annual hiring rate grows at 43%, exceeds pre-pandemic levels by 19%: Report

India’s hiring activity has been scaled up in 2021, as the Indian economy moves on the path of continuous revival. A survey conducted by Naukri.com, under their Naukri JobSpeak initiative, shows that the growth in the current annual hiring rate in India is 43%.

The observations are based on various parameters, as the survey measured the hiring activity across various industries, cities, and over different experience levels. The major findings of the survey reveal that the overall hiring trend is moving upwards across the nation, across all top fields and industries.

India's annual hiring rate grows at 43%, exceeds pre-pandemic levels by 19%

The report shows that last year, in October 2020, the hiring activity was recorded at 1759, which has now risen to 2523 in October 2021, showing a tremendous 43% growth. As per the survey, the job market has again surpassed pre-pandemic levels, showcasing a 19% improvement, as compared to October 2019. 

Speaking on the same, Pawan Goyal, Chief Business Officer, Naukari.com, said, "Overall hiring activity in India once again surpassed pre-pandemic levels on Oct, 21; Trending at 2523, the JobSpeak Index marked a 19% growth as compared to Oct, 19 indicating continuous revival and recovery.

Sectors like Hospitality/Travel and Retail, which were most impacted during peak pandemic, have outperformed all the other sectors bringing cheer to jobseekers across the country."

Other major highlights of the survey

The hiring trends across sectors, cities and experience levels were mentioned by the survey, comparing the numbers of October 2020 and October 2021. 

1. Hiring trends across different sectors, were as follows: IT-Software - 85%, Telecom/ISP - 84%,  Retail - 51%, Hospitality/Travel - 48%, Education/Teaching - 41%, Banking/Financial Services/ Broking - 39%, Insurance - 36%, Real Estate - 32%. This depicts that the IT and Telecom sectors have done massive recruitment as most of the people have been hired in these two sectors.
    
2. Hiring trends across the metropolitan cities were as follows: Bengaluru - 84%, Hyderabad - 80%, Pune - 69%, Chennai - 57%, Delhi/NCR - 51%, Mumbai - 46%, Kolkata - 26%. Bengaluru witnessed maximum hiring and Kolkata recorded the least.
    
3. Hiring trends across emerging cities were as follows: Ahmedabad - 72%, Coimbatore - 37%, Jaipur - 31%, Chandigarh - 17%,  Vadodara - 17%,  Kochi - 6%.
    
4. Hiring trends across experience levels depicts that majorly, people with 8-12 years of experience have been hired across sectors - a whopping 55%. Next to this, people with 4-7 years of experience were among the top picks of the employers, as around 45% of all hired candidates belonged to this experience level category. Freshers (0-3) years and people with experience over 13-16 years, had the same hiring percentage - 36%.

The data taken into consideration in the survey was compiled from the Naukari.com website wherein jobs posted by their clients, and the candidates hired from the website were considered. As per the report, to calculate the findings, July 2008 has been taken as the base with an index value of 1,000 and the subsequent monthly index is compared with the data for July 2008.

Indian economy on track

The Indian economy is getting back on track too, with several indicators and reports pointing towards India’s scaling growth trajectory. According to a recent report by Swiss brokerage UBS Securities India, "The Indian economy is likely to register a 9.5 per cent growth this fiscal over 7.3 per cent contraction last year, as the ongoing recovery is faster and more credible than earlier foreseen."

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