IT-Software, Pharma/Biotech/Clinical Research and Insurance Industries see a lesser decline in hiring activity as compared to other key industries.
New Delhi, India: The Naukri JobSpeak Index for April’ 2020, at 951, marks a decline of 62% in hiring activity as compared to April’ 2019 at 2,477, led by the nation-wide lockdown due to the COVID-19 crisis.
The April’ 2020 decline in hiring is led by industries like Hotel/Restaurant/Travel/Airlines (-91%), Auto/Ancillary (-82%), Retail (-77%) and Accounting/Finance (-70%). The job market across cities registered a double-digit dip in hiring. The decline was led by metros wherein Delhi declined by 70% followed by Chennai (-62%), Kolkata (-60%) and Mumbai. (-60%). There was an across the board decline in hiring at varied experience levels with the entry-level experience bands (0 to 3 yrs exp) witnessing the sharpest decline of 67%.
Referring to the report, Pawan Goyal, Chief Business Officer, Naukri.com said, “The disruption caused by the COVID-19 pandemic continues to impact the hiring activity leading to a 62% decline in April’ 2020. While Hotel/Restaurant/Travel/Airlines have been significantly impacted, industries like IT-Software/Software Services, Pharma/Biotech/Clinical Research and Insurance have been less impacted. To help jobseekers and recruiters facilitate career progression and hiring in these tough and uncertain times, we, at Naukri, have recently launched the ‘Step-Up’ initiative. For recruiters, in critical industries like Medical, Healthcare, Pharma and Telecom, our very first offering is a free bouquet of hiring services. On the jobseeker front, we are prioritizing access and discovery of recently ‘laid off & immediately available to join’ jobseekers to the recruiters. Also, there is a complete guide on career progression during these tough times with upskilling courses, hiring insights, CV assessment tools etc.”
Key Highlights of Naukri JobSpeak for April 2020 vs April 2019
Hiring Trends – Industry
Besides de-growth in hiring in Hotel/Restaurants/Travel/Aviation by 91%, other key industries that showed a decline in hiring activity in April’ 2020 versus last year same time were – Auto/Ancillary (-82%), Retail (-77%), Accounting/Finance (-70%), BFSI (-67%), BPO/ITES/CRM/Transcription (-60%) and IT-Hardware (-60%).
However, hiring activity in Pharma/Biotech/Clinical Research (-54%), IT-Software/Software Services (-49%) and Insurance (-42%) was less impacted as compared to other industries in April’ 2020.
Hiring Trends – Functional Area
New jobs for professionals in the Ticketing/Travel/Airlines, Hotel/Restaurants and HR/Administration sectors witnessed a dip of 95%, 89% and 78% respectively. Functional roles in Purchase/Supply Chain (-70%), Marketing/Advertising (-69%), Sales/Business Development (-69%) and Accounts/Finance (-68%) also witnessed a steep decline.
However, new jobs for professionals in the IT-Software (-51%), BPO/ITES/KPO (-54%), Pharma/Biotech/Healthcare (-57%) and Teaching/Education (-56%) sectors were less impacted as compared to other sectors in April’ 2020.
Hiring Trends – Experience
Hiring across experience levels was also impacted in April’ 2020. The hiring for entry-level executives (0-3 yrs. exp.) and senior-level executives (4-7 yrs. exp.) saw a dip of 67% and 62% respectively. The middle management roles (8-12 yrs. exp.) roles declined by 55%, senior management roles (13-16 yrs. exp.) declined by 53% and leadership roles (16+ yrs. exp.) declined by 50%.
Hiring Trends – City
Recruitment across cities saw a double digit dip during the month of April’20. Some of the hiring trends observed across key cities are as follows –
- Delhi/NCR: Hiring activity in the capital city witnessed a decline of 70%. The Hospitality and FMCG industries saw a dip in hiring by 96% and 81% respectively. Recruitment activities across all experience levels saw a negative growth. The demand for professionals in Hospitality (-97%), Accounting (-78%) and Banking (-64%) sectors marked a substantial negative growth.
- Chennai: Recruitment activities in Chennai dropped by 62%. The demand for professionals in the Hospitality, IT-Hardware and IT-Software industry saw a decline of 98%, 81% and 62% respectively. Hiring across all experience bands saw a double-digit decline with hiring for the entry level executives (0-3 yrs exp) seeing the sharpest decline of 70% in April’ 2020.
- Kolkata: The city saw a dip of 60% in recruitment activity. The Hospitality (-99%) and Auto/Ancillary (-89%) industries contributed to the downfall in industry hirings. All experience bands recorded a negative growth. The demand for professionals in the Hospitality and Accounting sector saw a decline of 91% and 77% respectively.
- Mumbai: Recruitment in Mumbai decreased by 60% in April’ 2020. Hiring in the Hospitality and Auto sectors saw a dip of 94% and 84% respectively. The recruitment activity across experience levels saw a dip of an average 61%. The demand for professionals in roles across the Hospitality and Banking sectors decreased by 96% and 70% respectively.
- Hyderabad: Hiring in Hyderabad decreased by 57%. Hospitality (-94%), Auto (-86%) and Accounting (-79%) industries contributed to the overall decline in industry hirings. Hiring across experience levels saw a dip of an average 51%.The demand for professionals in the Hospitality and Accounting sector witnessed a decline of 91% and 77% respectively.
- Bangalore: Overall hiring activity in Bangalore witnessed a drop of 57%. There has been a dip in hiring across all experience levels. Hiring in the Hospitality and Accounting sectors saw a decline of 91% and 74% respectively. The demand for professionals in the Hospitality, Banking and IT-Software sectors saw a steep decline of 89%, 66% and 56% respectively.
- Pune: The city saw a dip in recruitment activity by 55%. The Auto/Ancillary (-88%) and Hospitality (-78%) sectors contributed to the downfall in industry hirings. The demand for professionals in the IT-Hardware and Pharma industries recorded a decline of 74% each. Amongst experience bands, Pune saw a negative growth across experience levels of an average 48%.
The Naukri JobSpeak is a monthly Index which calculates and records hiring activity based on the job listings on Naukri.com website month on month. The objective of Naukri JobSpeak is to measure the hiring activities in various industries, cities, functional areas and experience levels. The data is compiled from the website wherein jobs posted by clients on Naukri.com are considered. Thus, the job speak index includes jobs that might be for replacement hiring. December 2008 is taken to be the base with an index value of 1,000 and the subsequent monthly index is compared with the data for December 2008. The jobs analyzed for the monthly Index are qualified on the basis of white-collar, urban, belonging to organized corporate sector jobs with the main focus on service industries. The report shows hiring trends across industry sectors, geography, experience level, and functional areas. More than 76,000 clients use Naukri.com, leading to the high reliability of data. The report does not cover gig employment, hyperlocal hiring or campus placement. Over a long period of time, the Naukri JobSpeak was impacted by the increase in the Naukri traffic share, internet penetration, Naukri pricing strategy and job listing drives.