Majority of companies expect new or replacement hiring in July-Dec period: Survey

Majority of companies plan to recruit people, including as new and replacement hires, in the second half of 2023, a survey.

Mumbai: Majority of companies plan to recruit people, including as new and replacement hires, in the second half of 2023, a survey said on Monday.

The Naukri Hiring Outlook Survey also showed that most recruiters expect business development, marketing, and operation roles to lead hiring during the July-December period.

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Over 1,200 recruiters and consultants took part in the survey, which is conducted twice a year to gauge recruitment trends in companies and industries across the country.

Around 92 per cent of the recruiters expect companies to hire professionals. About 47 per cent of the recruiters predicted new and replacement hiring while 26 per cent expected new job creation, it said.

As per the findings, about 20 per cent of the recruiters said they would maintain their headcount during the six months and only 4 per cent foresaw layoffs or downsizing during this period.

Nearly 70 per cent of the recruiters surveyed expect attrition rates to remain below 15 per cent, suggesting employees will look to hold on to their current jobs amid the current job market uncertainties, the survey said.

Mid-level professionals were expected to remain in demand, followed by those at the entry-level.
The highest attrition rates are expected across business development, marketing, operations, and HR roles. Mid-level professionals were the most likely to switch jobs during this period, the survey said.

About 42 per cent of the recruiters surveyed said their companies gave less than 10 per cent increment in the last appraisal cycle while 31 per cent said the hike was between 10 and 15 per cent.

“With 92 per cent of recruiters forecasting hiring activity, and a return to normalcy in hiring practices anticipated by more than half of those surveyed, the survey manifests an optimistic white-collar hiring landscape in the second half of 2023,” Naukri.com Chief Business Officer Pawan Goyal said.